KARACHI: The steel cutting ceremony of 600 tonnes patrol vessel being built for Pakistan Maritime Security Agency (PMSA) was held at Karachi Shipyard and Engineering Works (KSEW) on Tuesday. Minister for Planning, Development and Reforms, senior officers of Pakistan Navy, KSEW, China Shipbuilding Trading Company (CBTC), Karachi Port Trust, Port Qasim Authority, government representatives and members of cooperate sector also attended the ceremony. In his welcome address, KSEW managing director said that construction of 600 tonnes patrol vessel at KSEW signifies the trust and confidence of the government reposed in Karachi Shipyard. He said the ship would be fully equipped to enforce maritime security, search and rescue mission in maritime exclusive economic zone of Pakistan. This year, he continued, KSEW would launch two more ships. Speaking as the chief guest, Ahsan Iqbal said the induction of maritime patrol vessels (MPV) will go a long way in protecting national sovereignty and safeguarding rich natural resources of the area. He said the government was committed to developing maritime infrastructure along the coast to prepare for trade expansion. He congratulated Karachi Shipyard and CSTC for timely achievement of this construction milestone. This project would fulfill the need for upgrading the ageing fleet of PMSA, he said. He was also appreciative for KSEW on being awarded contract of four new generation AIP submarines and described it as a landmark achievement. Referring to the upcoming development in the maritime sector, he said that the ship lift and transfer system would enhance the capacity of KSEW, whereby repair of 13 ships would be possible at one time. The minister said the KSEW was the only shipyard in the country which provided the facility of indigenous shipbuilding and repairs. He assured to support Karachi Shipyard in upgrading and maintaining its infrastructure and make Pakistan a leading shipbuilding country in the region. He informed the gathering that with the acceptance of Pakistan’s claim by United Nations for extension of its continental shelf, its sea-bed territory had increased by 50,000 sq kms taking it to 290,000 sq kms. Now, this sea area is larger than that of combined area of Sindh and Khyber Pakhtukhwa, he said, adding it would no wrong to call this area as fifth province of Pakistan. Referring to the China-Pakistan Economic Corridor (CPEC), the minister said the corridor would care for land silk route and sea silk route between China and Pakistan. “Gwadar would be an international port facility in this region and there was dire need for full security of our ports, sea and marine resources,” he added. He articulated that 21st century was the century of economic ideology based on scale of productivity, innovations and competitiveness. Now, he asserted, strong economy was must for an independent and sovereign nation. “We would have to make all possible efforts on this account,” he asserted. He cited the example of Soviet Union of Russia which dismembered due to weakening of its economy despite strong defence system. In the past, he mentioned, Pakistan lost many opportunities and “it would be very unfortunate for us if we could not take full benefits of the CPEC”. “We should make Pakistan as the fastest growing economy in Asia,” he said, adding that wealth generation was must for better infrastructure and jobs creation.