P-JMR http://polaris.bahria.edu.pk/index.php/ojs <p>The Polaris – Journal of Maritime Research (P-JMR) is produced by National Centre for Maritime Policy Research (NCMPR), Pakistan. The Centre was established as Karachi Chapter of National Institute of Maritime Affairs (NIMA) in 2007 to provide a seat of excellence for maritime policy research and serve as a Think Tank for multidisciplinary study and analysis of maritime affairs. For details please visit National Centre for Maritime Policy Research. The journal is HEC recognized in Y category.</p> <p><strong>Brief about Polaris</strong></p> <p>Polaris – Journal for Maritime Research (P-JMR) is a multi-disciplinary social science journal which aims to promote and highlight the information and knowledge about maritime affairs. P-JMR is an international peer-reviewed, ISSN registered academic journal which focuses on the maritime dimensions of economic, social, environmental, historical and legal subjects. The journal is supported by the centralized funds of Bahria University.</p> <p><strong>Scope of Journal</strong></p> <p>We welcome academic contributions from all fields which have relevant and insightful analysis and events of regional and international significance. The research scholars are encouraged to submit their original, unpublished contribution in form of research articles, policy papers and book reviews which covers the broad spectrum of maritime subjects such as:</p> <ul> <li>Geo-Politics and Strategic Maritime Environment</li> <li>Maritime Security</li> <li>Maritime Trade and Economy</li> <li>Ports and Logistics</li> <li>Environmental Issues and Oceans Governance</li> <li>Maritime Laws &amp; Policies</li> <li>Maritime Technology</li> <li>Maritime Training and Education</li> <li>Sustainable Utilization of Marine Resources</li> </ul> <p><strong>Aims and Objectives of PJMR</strong></p> <ul> <li>Enhance maritime awareness amongst masses.</li> <li>Promote finding and research on Maritime subjects at national and international level.</li> <li> Increase scope of maritime studies amongst academia policy and research institutes in Pakistan.</li> <li>Encourage students, researchers, and maritime stakeholders to produce academic research on tangible problems and challenges of the field.</li> <li>Support objectives of NIMA in all relevant domains through promoting literary work/research.</li> </ul> National Institute of Maritime Affairs en-US P-JMR 2519-1772 Unfolding Black And White Of China’s Bri In The Indian Ocean: Narratives, Perceptions And Public Diplomacy http://polaris.bahria.edu.pk/index.php/ojs/article/view/35 <p><em>In 2015, China released its “Vision and Actions on Jointly Building Belt and Road”, describing a “Silk Road Spirit” characterized by “peace and cooperation, openness and inclusiveness, mutual learning and mutual benefits”. However, with China’s economic growth and increasing global influence, China’s BRI practices have encountered such criticisms as ‘debt trap’. This presentation explores the narrations and perceptions of Indian Ocean littoral states and of western media on China’s BRI and provides a Chinese perspective responding to these perceptions. The China-US geopolitical competition in Indian Ocean will also be discussed in the context of United States’ own initiative, the Blue Dot Network, as the counterweight that will compete with China’s spreading global influence through the BRI</em>.</p> Nong Hong Copyright (c) 2021 https://polaris.bahria.edu.pk/index.php/ojs 2021-12-12 2021-12-12 3 1 1 24 Effects Of Asymmetric Information On Decision Dilemma In Formulating Maritime Financial Strategy And Sensitive Capital Investments http://polaris.bahria.edu.pk/index.php/ojs/article/view/36 <p><em>Cash flow has been major determinant of investment in the most of the studies conducted in the area of finance. So have the studies related to financing of ships related investment projects within the maritime industry. However, the exact role of cash flow to determine the investment specially in the maritime sector remained ambiguous.&nbsp; </em><em>This research has been conducted mainly to investigate the relationship between investment and internal generated fund while the information is asymmetric in the maritime and financial realms of Pakistan.&nbsp; The Q model of investment has been used to investigate this relationship. The GMM model has been applied to test the hypothesis by using the balanced panel annual data of Pakistani listed non-financial KSE 100 index firms for the period 2009 to 2018.&nbsp; The empirical analysis includes 100 sample firms with 600 observations.&nbsp; The five measures of asymmetric information </em><em>(i.e. Tobin’s Q, ownership concentration, firm size, profitability and the financial leverage)</em><em> have been used in this study.&nbsp; The results derived by using all five measures of asymmetric information confirm the positive and statistically significant relationship between internal finance and firm’s investment when firms have information which is asymmetric in nature. This study contributes to the investment decisions in maritime markets as well as other capital markets that are imperfect, consisting of information asymmetries. </em></p> Shoukat Ali Ayesha Shoukat Shahid Aslam Mirza Copyright (c) 2021 https://polaris.bahria.edu.pk/index.php/ojs 2021-12-12 2021-12-12 3 1 25 58 Strategic Impact Of Submarines In Indo - Pak Wars A Comparative Analysis http://polaris.bahria.edu.pk/index.php/ojs/article/view/37 <p><em>A lot has been written on the conduct of 1965 and 1971 wars by both Indian and Pakistani sides but most literature focuses on land warfare. Naval aspects of these wars are covered in the official histories and other books mainly written by Indian authors. No dedicated literature is available focusing on submarine operations. In 1961, the quest for submarines was commenced simultaneously by both Indian and Pakistani navies. The first submarine PNS/M GHAZI was acquired by Pakistan in 1964 whereas the first Indian submarine INS/M KALVARI was commissioned as late as 1967. The disadvantage of not having a submarine by IN was glaring in the 1965 war when IN was mostly confined to its own waters. In the 1971 war, both sides possessed submarines. Pakistani submarines created strategic cum tactical effects in both eastern and western theatres. PNS/M GHAZI’s over 3000 miles long voyage to the Indian east coast restricted IN aircraft carrier to Andaman Islands. PNS/M HANGOR’s sinking of&nbsp; INS KHUKRI on 9 December 1971 with 18 officers and 176 men on board changed the balance of war after IN’s devastating attacks on PN ships and Karachi on 4<sup>th</sup> and 8<sup>th</sup> December 1971. This article is an endeavour to analyse the roles played by submarine arms of IN and PN in Indo-Pak wars. The article also examines as to why PN submarines were more effective at the strategic and tactical levels vis a vis their counterparts in IN. Due to dearth of credible sources, PN submarines’ narrative is built upon eye witness accounts whereas IN events have been taken from credible Indian sources. </em></p> Naveed A Khan Copyright (c) 2021 https://polaris.bahria.edu.pk/index.php/ojs 2021-12-12 2021-12-12 3 1 59 80 The Strategic Maritime Environment Of The Indian Ocean: An Analysis Of The Challenges And Prospects For Pakistan http://polaris.bahria.edu.pk/index.php/ojs/article/view/39 <p><em>Strategic maritime environment of the Indian Ocean (IO) is rigorously changing in the course of last two decades. &nbsp;Regional focus has sharply shifted from territorial to maritime borders, largely impacting transnational ties in wake of defense and security measures. &nbsp;This insight covers background of strategic maritime environment of the Indian Ocean along with shifting trends after the launch of China’s “Belt Road Initiative”. The discourse also covers impact of COVID crisis on maritime environment of IO and recent tactical reorientation of global powers in the region. Furthermore, Strategic analysis of maritime power in the Indian Ocean is done in calibration of the various political narrative. USA, China, India, Australia, and Pakistan are taken under keen sight of policy analysis. Opportunities and challenges for Pakistan in lieu of this discussion is penned down categorically. Development of Maritime Security Strategy of Pakistan (MSSP) with commensurate needs is brought focus under as a result of the deliberate policy and maritime environment study of IOR. Cogent recommendations are offered to Pakistan Navy and the Government to fill the lapse on way to emerging naval power of the Western Indian Ocean. It is a qualitative research, employing descriptive chronological discussion, based on targeted theme in the larger perspective. </em></p> Sehrish Qayuum Copyright (c) 2021 https://polaris.bahria.edu.pk/index.php/ojs 2021-12-12 2021-12-12 3 1 81 118 The Us Free And Open Indo-Pacific Strategy: Implications For China (2017-Present) http://polaris.bahria.edu.pk/index.php/ojs/article/view/40 <p><em>The Indo-Pacific region is becoming the focal point of strategic competition in the 21<sup>st</sup> century. The region, previously limited to the Asia-Pacific, has evolved into a wider geographical and geopolitical realm, thanks to the unparalleled economic, political, military, and diplomatic growth of China over the past three decades. Since 2006-07, the region is receiving wider attention from the United States and its regional allies – Japan, Australia, and India. While the term Indo-Pacific has been developing into a geopolitical discourse since then, it came to the surface in the United States in 2017 as Trump administration assumed power. The United States views the rise of China as a threat to its liberal rules-based order and global hegemony. This article deals with the US Free and Open Indo-Pacific Strategy (FOIP) formulated by Trump administration in November 2017 and reformulated by Biden administration in February 2021 to counter growing China’s assertiveness in the region, which China calls its ‘peaceful rise’. To achieve its goals, the United States heavily relies on its strategic partners, each of which has a different interpretation of the Indo-Pacific. Ineffectiveness of various bilateral and multilateral engagements along with the implemental limitations of the Indo-Pacific strategy itself has, so far, failed to bring negative implications for China. This puts the future regional order of the Indo-Pacific in a jeopardy. The regional actors are not willing to become a tool of the US or China in balancing each other’s threats indirectly. This leaves us to assuming that the Indo-Pacific region is most likely to observe a multilateral order in years to come. Given the criticalness of the situation, both the United States and China should opt for a cooperation mechanism rather than containment strategies to ensure peace and stability in the Indo-Pacific. </em></p> Maheera Munir Aiysha Safdar Copyright (c) 2021 https://polaris.bahria.edu.pk/index.php/ojs/ 2021-12-12 2021-12-12 3 1 119 140 Exploring The Role Of Blue Economy In Sustainable Development: A Perspective From Pakistan http://polaris.bahria.edu.pk/index.php/ojs/article/view/41 <p><em>Being covered by oceans around 71%, Planet Earth is a blue planet. More than three billion people depend on this natural capital for the sustenance of their lives and livelihoods. Given its twin objectives of securing growth and sustainability, the blue economy (BE) has become a pivotal policy discourse. Pakistan is a bonafide maritime nation. Despite making reasonable efforts, the country is not making headway towards sustainability. Keeping in view the country’s BE potential, the extant study aims to explore the role of BE in the sustainable development (SD) of Pakistan.</em></p> <p><em>&nbsp;</em></p> <p><em>Drawing upon Triple Bottom Line (3BL) Theory, this qualitative study utilizes an interpretive paradigm to illustrate the insights of the BE experts (n=15) selected through purposive sampling. The researchers performed a thematic analysis (TA) of the primary data and discussed the identified themes.</em></p> <p><em>&nbsp;</em></p> <p><em>The study confirms that the BE and SD are compounding, and Pakistan can’t afford their mutual exclusivity. While calling attention to several socio-economic, political, institutional, legal, security, and environmental challenges, the study informs that Pakistan’s geostrategic location and BE potential enables it to turn the tide towards SD. To this effect, the country needs to put in titanic efforts across all spheres to bear out its national and international commitments towards BE and SD.</em></p> <p>&nbsp;</p> <p><em>The present study contributes to the budding literature on BE and SD. With an improved understanding of the nexus between BE and SD, the study stimulates advanced research and backs the national and international SD and BE policy discourse. The study also notifies the future research agenda with limitations and policy implications</em>.</p> Shahzad Ali Gill Jawad Iqbal Copyright (c) 2021 https://polaris.bahria.edu.pk/index.php/ojs/ 2021-12-12 2021-12-12 3 1 141 192