Asian tiger in the making faces threat from power politics
Iqbal says next round of Chinese investments will focus on industrial zones
Interior Minister Ahsan Iqbal PHOTO: EXPRESS
KARACHI:
Unelected power corridors are trying to destabilise the country’s economy, which has achieved a 10-year high growth and is set to turn Pakistan into an Asian tiger by 2025, Federal Minister for Interior Ahsan Iqbal said on Friday.
“If we choose to set up a non-elected government, (then) it will be tantamount to murdering the economy,” Iqbal remarked at a conference on “CPEC: An Opportunity for Economic Transformation” organised by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI).
“We should tell the world loud and clear that Pakistan is rising, thanks to the reforms we have undertaken and thanks to CPEC (China-Pakistan Economic Corridor),” he said.
“Pakistan would have achieved a higher economic growth rate of 6% had Panama drama not taken place,” he said.
“There is a brigade consisting of a few thousand failed politicians, retired servicemen and media persons. They keep crying that Pakistan is losing,” he said, adding the reality was contrary to their propaganda.
Pakistan to emerge as new Asian Tiger: PM Nawaz
Despite all obstacles including sit-ins and conspiracies against the present political setup, the country achieved a gross domestic product (GDP) growth of 5.3% last year and has targeted 6% expansion for next year.
“Pakistan has become a stable county. It has achieved macro-economic stability. It is rising. It is standing on the runway and ready to take off for high economic growth targets,” he said.
“PricewaterhouseCoopers (PwC), which is the world’s leading economic institution, has ranked Pakistan among top 20 economies in the world by 2030,” he said.
World Bank has recently reported that Pakistan achieved a 10-year high economic growth rate of 5.3% last year.
$27b spent on CPEC
Iqbal said China had so far spent $27 billion on Pakistan’s infrastructure and power houses under CPEC. It has allocated over $60 billion for the corridor which would expand roads and railway networks for transporting import and export goods via Gwadar Port to China from across the world.
“The corridor has helped Pakistan become an energy-secured state,” he said, adding it had helped in completely overcoming power outages at industrial zones nationwide, which otherwise endured up to 12 hours of load-shedding.
The availability of electricity is helping ensure higher industrial output which is contributing to the constantly growing local economy.
Economic uplift: ‘Pakistan will soon become an Asian tiger’
He asked local industrialists to form joint ventures with the Chinese under CPEC as they had the necessary capital and technological knowhow to invest, which would help Pakistan create job opportunities.
He said China was relocating 85 million jobs to countries along the One Belt, One Road programme with most of them going to Vietnam, Cambodia and Myanmar. “Pakistan can also benefit from this and it is up to us as to how many jobs we can attract.”
In the next round of development under CPEC, China would develop several industrial zones in Pakistan and help its economy to transform into a true industrial economy from an agricultural economy at present.
CPEC for peace
Iqbal said CPEC was securing peace and harmony in the country and at regional level as well. “This is not against any country. If India takes off its biased glasses, it will find CPEC is earning peace,” he said.
He pointed out that they had asked the Chinese to transform Gwadar into a smart city on the standards not less than those of Singapore and Hong Kong. Gwadar as a city and as an international port is developing fast. “It has become the pride of Pakistan,” Iqbal said.
Published in The Express Tribune, October 28th, 2017.
Unelected power corridors are trying to destabilise the country’s economy, which has achieved a 10-year high growth and is set to turn Pakistan into an Asian tiger by 2025, Federal Minister for Interior Ahsan Iqbal said on Friday.
“If we choose to set up a non-elected government, (then) it will be tantamount to murdering the economy,” Iqbal remarked at a conference on “CPEC: An Opportunity for Economic Transformation” organised by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI).
“We should tell the world loud and clear that Pakistan is rising, thanks to the reforms we have undertaken and thanks to CPEC (China-Pakistan Economic Corridor),” he said.
“Pakistan would have achieved a higher economic growth rate of 6% had Panama drama not taken place,” he said.
“There is a brigade consisting of a few thousand failed politicians, retired servicemen and media persons. They keep crying that Pakistan is losing,” he said, adding the reality was contrary to their propaganda.
Pakistan to emerge as new Asian Tiger: PM Nawaz
Despite all obstacles including sit-ins and conspiracies against the present political setup, the country achieved a gross domestic product (GDP) growth of 5.3% last year and has targeted 6% expansion for next year.
“Pakistan has become a stable county. It has achieved macro-economic stability. It is rising. It is standing on the runway and ready to take off for high economic growth targets,” he said.
“PricewaterhouseCoopers (PwC), which is the world’s leading economic institution, has ranked Pakistan among top 20 economies in the world by 2030,” he said.
World Bank has recently reported that Pakistan achieved a 10-year high economic growth rate of 5.3% last year.
$27b spent on CPEC
Iqbal said China had so far spent $27 billion on Pakistan’s infrastructure and power houses under CPEC. It has allocated over $60 billion for the corridor which would expand roads and railway networks for transporting import and export goods via Gwadar Port to China from across the world.
“The corridor has helped Pakistan become an energy-secured state,” he said, adding it had helped in completely overcoming power outages at industrial zones nationwide, which otherwise endured up to 12 hours of load-shedding.
The availability of electricity is helping ensure higher industrial output which is contributing to the constantly growing local economy.
Economic uplift: ‘Pakistan will soon become an Asian tiger’
He asked local industrialists to form joint ventures with the Chinese under CPEC as they had the necessary capital and technological knowhow to invest, which would help Pakistan create job opportunities.
He said China was relocating 85 million jobs to countries along the One Belt, One Road programme with most of them going to Vietnam, Cambodia and Myanmar. “Pakistan can also benefit from this and it is up to us as to how many jobs we can attract.”
In the next round of development under CPEC, China would develop several industrial zones in Pakistan and help its economy to transform into a true industrial economy from an agricultural economy at present.
CPEC for peace
Iqbal said CPEC was securing peace and harmony in the country and at regional level as well. “This is not against any country. If India takes off its biased glasses, it will find CPEC is earning peace,” he said.
He pointed out that they had asked the Chinese to transform Gwadar into a smart city on the standards not less than those of Singapore and Hong Kong. Gwadar as a city and as an international port is developing fast. “It has become the pride of Pakistan,” Iqbal said.
Published in The Express Tribune, October 28th, 2017.