The decision to release the boats came after instructions from Prime Minister Nawaz Sharif.
A nine-member Indian delegation visited Karachi from July 18-20 to inspect the boats and discuss modalities for the release with officials of the Pakistan Maritime Security Agency (PMSA).
While every effort is made by the PMSA to keep the boats in good condition, however, some minor repairs are still required before the boats could be physically handed over, Pakistan Foreign Office said in a statement.
Indian fishermen and boats are often apprehended by the PMSA for allegedly violating Pakistan territorial waters.
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"Usually the boats are not in seaworthy condition and are not returned. However, following instructions from the Prime Minister to return these boats, hectic efforts were undertaken by the PMSA to ensure that the boats are returned to their rightful owners," the statement said.
The move came following the release of 150 Indian fishermen as a goodwill gesture in May.
It called upon India to adhere to the Consular Agreement of 2008 and recommendations of the Judicial Committee on Prisoners to ensure that all those Pakistani prisoners are released whose sentences have been completed.