Pakistan to follow Chinese development model

Ahsan Iqbal says economic development only possible with political stability, social solidarity and economic policies

ISLAMABAD:

Federal Minister for Planning Development and Special Initiatives Professor Ahsan Iqbal on Thursday said Pakistan would follow the Chinese model of economic development, which he said was a miracle of modern times.

According to the Chinese, modern economic development is possible only with the continuation of political stability, social solidarity and economic policies, the minister said while addressing China Pakistan Economic Corridor (CPEC) Green Development, High Level Dialogue organised by Sustainable Development Policy Institute (SDPI) here.

He noted that Pakistan had always lacked political stability and continuity in economic policies due to which economic development has not been possible.

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He said China’s industrial relocation was to take place in the year 2020 and “We did not have the infrastructure to benefit from this change.”

During this period, China’s industrial units were shifted to Vietnam and the Association of South-East Asian Nations (ASEAN) countries, he added.

Iqbal maintained that in 2013, the government had started work on nine Special Economic Zones (SEZs) under CPEC but during the previous regime,” We could not complete even one of them”.

“If these SEZs were completed, China’s industrial relocation would have taken place in Pakistan today.”

He said Pakistan and China were starting work on several green energy projects which would help in improving the environment, adding that most of the solar and wind energy projects would start a new era of sustainable economic development in the country.

He said anti-environment industrial development had also played a role in spoiling the environment in the world and Pakistan had also suffered from this. “Today Pakistan Is among the five major countries affected by environmental crises.”

Talking to media persons on the occasion, Iqbal criticised the CPEC Authority, saying not a single dollar had been invested in the project after the creation of the body.