Development in Gwadar: Private sector should be involved, laments business community
LCCI, other officials want govt to trust locals in developing country
In Gwadar, China plans to invest some $1.62 billion under CPEC. PHOTO: FILE
LAHORE:
Ever since China and Pakistan signed the $46 billion China-Pakistan Economic Corridor deal for different projects in April 2015, Gwadar has become the most alluring destination for local and international investors.
There was also hope that the working groups of both countries would also meet deadlines to complete the key infrastructure projects.
CPEC: Will the Baloch be victim to the Pakistani state’s deceitful tactics again?
But contrary to expectations, a year has passed and there is plenty of room for improvement, much to the dismay of the business community of Punjab, which is now urging the government to involve the private sector in developing the city.
“Let Chinese do the key projects for Gwadar city, but as far as the transformation of the city as per international standards is concerned the Government of Pakistan (GoP) should devise a mechanism to facilitate the private sector for potential investment,” said Lahore Chamber of Commerce and Industries (LCCI) Executive Committee Member Raja Adeel Ashfaq while talking to The Express Tribune.
According to Ashfaq, the pace of work on key projects in Gwadar was not satisfactory and currently the development works were stalled, along with abundant smuggled Iranian products in the area.
“Talks of import of 1,000MW electricity from Iran is under way, for which Iranians have even installed the supply towers but I think Chinese don’t like the Iranian influence and they want to set up their own power plants,” he said, adding that the Pakistani government seemed hesitant to take a decision regarding the matter as the locals had deep relations with the Iranians and families were divided on both sides of the border.
PM inaugurates Gwadar-Hoshab (M-8) portion of CPEC
In Gwadar, China plans to invest some $1.62 billion under CPEC. Key projects include construction of an eastern expressway linking the harbour and coastline, an international airport, breakwater, 300MW coal-fired power plant and eight other projects, to be complete in three to five years.
The business community said that it was ready to work on different projects as consortiums, and invest in the energy sector but the government should at least direct financial institutions to give services in Gwadar for this purpose.
“Why does the Nawaz government not want to rely on Pakistanis to change and turn around the country, why are they always looking for international investors,” questioned Syed Nabeel Hashmi, another Lahore-based businessman. “The government focuses on either China or Turkey for economic development, they should also consider the local private sector, which is already playing a significant role in the economy,” he added.
Gwadar port to be operational by 2017: Chinese official
Shah was of the view that the government, as well as the private sector, was not proactively looking into the development activities in Gwadar. “The government should direct the State Bank of Pakistan to compel banks to start operations in Gwadar. There is also need to involve Baloch companies and the local people,” he added.
Published in The Express Tribune, May 6th, 2016.
Ever since China and Pakistan signed the $46 billion China-Pakistan Economic Corridor deal for different projects in April 2015, Gwadar has become the most alluring destination for local and international investors.
There was also hope that the working groups of both countries would also meet deadlines to complete the key infrastructure projects.
CPEC: Will the Baloch be victim to the Pakistani state’s deceitful tactics again?
But contrary to expectations, a year has passed and there is plenty of room for improvement, much to the dismay of the business community of Punjab, which is now urging the government to involve the private sector in developing the city.
“Let Chinese do the key projects for Gwadar city, but as far as the transformation of the city as per international standards is concerned the Government of Pakistan (GoP) should devise a mechanism to facilitate the private sector for potential investment,” said Lahore Chamber of Commerce and Industries (LCCI) Executive Committee Member Raja Adeel Ashfaq while talking to The Express Tribune.
According to Ashfaq, the pace of work on key projects in Gwadar was not satisfactory and currently the development works were stalled, along with abundant smuggled Iranian products in the area.
“Talks of import of 1,000MW electricity from Iran is under way, for which Iranians have even installed the supply towers but I think Chinese don’t like the Iranian influence and they want to set up their own power plants,” he said, adding that the Pakistani government seemed hesitant to take a decision regarding the matter as the locals had deep relations with the Iranians and families were divided on both sides of the border.
PM inaugurates Gwadar-Hoshab (M-8) portion of CPEC
In Gwadar, China plans to invest some $1.62 billion under CPEC. Key projects include construction of an eastern expressway linking the harbour and coastline, an international airport, breakwater, 300MW coal-fired power plant and eight other projects, to be complete in three to five years.
The business community said that it was ready to work on different projects as consortiums, and invest in the energy sector but the government should at least direct financial institutions to give services in Gwadar for this purpose.
“Why does the Nawaz government not want to rely on Pakistanis to change and turn around the country, why are they always looking for international investors,” questioned Syed Nabeel Hashmi, another Lahore-based businessman. “The government focuses on either China or Turkey for economic development, they should also consider the local private sector, which is already playing a significant role in the economy,” he added.
Gwadar port to be operational by 2017: Chinese official
Shah was of the view that the government, as well as the private sector, was not proactively looking into the development activities in Gwadar. “The government should direct the State Bank of Pakistan to compel banks to start operations in Gwadar. There is also need to involve Baloch companies and the local people,” he added.
Published in The Express Tribune, May 6th, 2016.