Balochistan uplift: BEF calls for reducing reliance on federal divisible pool
Lays stress on spending resources on human development
A general view of the port before the inauguration of the China Pakistan Economic Corridor port in Gwadar, Pakistan November 13, 2016. PHOTO: REUTERS
QUETTA:
The Balochistan Economic Forum (BEF) has issued an advisory to the provincial government, asking it to spend budgetary provisions on human resource development and laying the foundation of future economic development of the province.
The BEF, a non-government organisation working for economic uplift of Balochistan, has highlighted that the provincial government must find new and dependable sources of income to reduce its dependence on the federal government for its financial needs.
It says the financial problems in Balochistan should be an eye opener for the political leadership and economic planners of the province.
Progressive development planning: Balochistan prepares for a paradigm shift
“It is high time they drew a comprehensive strategy that might facilitate tackling of the economic challenges requiring urgent attention of the leadership, and also consider preparing a strong economic foundation to get rid of total dependence on the federal divisible pool,” it says.
According to the BEF, Balochistan’s share in the country’s tax income has spiked by almost eight times from Rs29 billion in 2009-10 to Rs220 billion in the estimated provincial revenue receipts for the next fiscal year following the implementation of the 7th National Finance Award in 2010-11.
“Balochistan government should widen its revenue base by encouraging foreign direct investments in the province and seeking international economic aid agencies and multilateral institution’s support in the socio-economic development of the province with the cooperation of the federal government,” it says.
The advisory urges the current political leadership in Balochistan to strongly support foreign direct investment, and more importantly, ensure that the message is reflected in bureaucratic policies and procedures.
It says Balochistan has now occupied the centre stage in the national narrative due to its centrality in the China Pakistan Economic Corridor (CPEC).
Gwadar port will be game-changer for people of Balochistan: PM
“Surely, success of the CPEC hinges on the successful development of the Gwadar port, which would be very difficult to achieve without the support of the locals. Seen purely through the lens of realpolitik, the CPEC is not just a game changer for Pakistan, but also a game changer for the historically-neglected province of Balochistan,” it adds.
The province has countless prospects for economic growth under the sphere of the CPEC, while the strategic importance of Gwadar Port is to open new vistas for economic development of Balochistan, as it would help the province become a strategic business hub of the region.
The advisory notes that under the Federal Budget 2017-18, Gwadar has received better attention in terms of allocation of more resources and funds for its development as well as a reasonable share in the Rs120 billion allocated for the CPEC projects.
“However, there is a dire need to complete the Gwadar Port projects earlier so that the port becomes operational in the shortest possible time. The government has to create a more conducive environment in the Gwadar Port city for development so that investors can look beyond real-estate business,” it says.
It mentions that Chinese investments have given confidence to the local tribes and now local and International investors are considering their direct participation in the economic development of the province.
“Gwadar has an immense strategic lure; the Balochistan Economic Forum believes that the government would announce without further delay special incentives for declaring Gwadar a free zone,” it adds.
The advisory, however, highlights the absence of basic infrastructure for future development and scarcity of water, power, gas, roads and other means of communication – particularly water deficiency – in every human settlement of Balochistan.
“The political leadership of Balochistan will have to wage an economic war at all possible fronts to bring economic and industrial revolution and improve the quality of life in the province,” says the BEF.
The Balochistan Economic Forum (BEF) has issued an advisory to the provincial government, asking it to spend budgetary provisions on human resource development and laying the foundation of future economic development of the province.
The BEF, a non-government organisation working for economic uplift of Balochistan, has highlighted that the provincial government must find new and dependable sources of income to reduce its dependence on the federal government for its financial needs.
It says the financial problems in Balochistan should be an eye opener for the political leadership and economic planners of the province.
Progressive development planning: Balochistan prepares for a paradigm shift
“It is high time they drew a comprehensive strategy that might facilitate tackling of the economic challenges requiring urgent attention of the leadership, and also consider preparing a strong economic foundation to get rid of total dependence on the federal divisible pool,” it says.
According to the BEF, Balochistan’s share in the country’s tax income has spiked by almost eight times from Rs29 billion in 2009-10 to Rs220 billion in the estimated provincial revenue receipts for the next fiscal year following the implementation of the 7th National Finance Award in 2010-11.
“Balochistan government should widen its revenue base by encouraging foreign direct investments in the province and seeking international economic aid agencies and multilateral institution’s support in the socio-economic development of the province with the cooperation of the federal government,” it says.
The advisory urges the current political leadership in Balochistan to strongly support foreign direct investment, and more importantly, ensure that the message is reflected in bureaucratic policies and procedures.
It says Balochistan has now occupied the centre stage in the national narrative due to its centrality in the China Pakistan Economic Corridor (CPEC).
Gwadar port will be game-changer for people of Balochistan: PM
“Surely, success of the CPEC hinges on the successful development of the Gwadar port, which would be very difficult to achieve without the support of the locals. Seen purely through the lens of realpolitik, the CPEC is not just a game changer for Pakistan, but also a game changer for the historically-neglected province of Balochistan,” it adds.
The province has countless prospects for economic growth under the sphere of the CPEC, while the strategic importance of Gwadar Port is to open new vistas for economic development of Balochistan, as it would help the province become a strategic business hub of the region.
The advisory notes that under the Federal Budget 2017-18, Gwadar has received better attention in terms of allocation of more resources and funds for its development as well as a reasonable share in the Rs120 billion allocated for the CPEC projects.
“However, there is a dire need to complete the Gwadar Port projects earlier so that the port becomes operational in the shortest possible time. The government has to create a more conducive environment in the Gwadar Port city for development so that investors can look beyond real-estate business,” it says.
It mentions that Chinese investments have given confidence to the local tribes and now local and International investors are considering their direct participation in the economic development of the province.
“Gwadar has an immense strategic lure; the Balochistan Economic Forum believes that the government would announce without further delay special incentives for declaring Gwadar a free zone,” it adds.
The advisory, however, highlights the absence of basic infrastructure for future development and scarcity of water, power, gas, roads and other means of communication – particularly water deficiency – in every human settlement of Balochistan.
“The political leadership of Balochistan will have to wage an economic war at all possible fronts to bring economic and industrial revolution and improve the quality of life in the province,” says the BEF.