Pakistan may not be there yet, but slowly yet surely, it will be
The phenomenal economic prosperity and industrial development in Asian countries such as China, South Korea, Singapore and Malaysia during the last three decades is a ranting testimony of the reality that attainment of high level growth needs industrialisation and lessening dependence on the agriculture sector.
Unfortunately Pakistan has failed to achieve such rapid industrialisation due to successive governments. However it is heartening to note that, by becoming part of the CPEC, Pakistan is poised to not only make up for the lost opportunities but also to become an economic power house within the next two decades. Apart from radically changing the dynamics of regional connectivity and trade it is going to act as a catalyst in the process of transition from an agricultural economy to an industrial economy.
Development of physical infrastructure under the CPEC will lay a firm foundation for industrialisation. The road infrastructure will ensure access to markets for producers and consumers besides affording an opportunity to manufacturers in Pakistan to export to Central Asian countries and China.
The focus of the PML-N government on the development of infrastructure during all its tenures, notwithstanding the criticism of its detractors stemming from their narrow political ends, undoubtedly was a right.
Gawadar port, three routes of the corridor energy projects are the engines of growth. Hopefully the special industrial zones to be set up at Balochistan, KP, Sindh, Punjab, GB, AJK, and in FATA besides two projects of the federal government at Islamabad and Port Qasim, would nudge the process of rapid industrialisation in the country. The stream of the energy producing projects by the end of 2018 and the plans to generate another 30000 MW of electricity by 2030 will not only help to overcome the present energy crisis but would also cater to the future requirements of country. It is pertinent to point out that the sites of the special industrial zones have been finalised in consultation with the provincial governments.
The scope of the CPEC was further widened at the sixth meeting of the Joint Coordination Committee (JCC), including Bhasha Dam, Peshawar-Karachi railway line, Karachi Circular Railway, Orange Line Train, Keti Bander, special economic zones and three more energy projects in Sindh.
With this development CPEC has surely become a national rallying point, above the partisan lines for which credit goes to the vision and sagacity shown by the government as well as the positive response given by the provinces. It is a win-win situation for all. CPEC admittedly is an inclusive undertaking that mirrors a new source of unity and strength in Pakistan.
It is also gratifying to note that as a result of the policies pursued by the PML-N government there has been a tremendous economic turn-around, duly acknowledged internationally. Pakistan’s stock exchange has been ranked as the fifth best in the world. Rating agencies have also improved country’s ratings. Transparency International has indicated a nose-dive in corruption in Pakistan. No major corruption scandal has been reported in the media. The security environment has also improved significantly as a result of operation Zarb-e-Azb and the implementation of NAP. These are all positive portents in regards to kick-start the process of sustained economic growth in the country.
The civil and military leadership have an unswerving commitment to implementing CPEC ensuring the safety of Chinese workers and securing the developed infrastructure. A special security division comprising 15000 personnel has been created in this regard. Work on development projects at Gawadar is in full swing and FWO has already completed construction of 850 Km of roads in Balochistan as part of the western route. It is estimated that with the completion of CPEC there will be nearly 3% jump in GDP growth. That indicates how big a stake Pakistan has in the timely implementation of CPEC.
The economic situation in the country requires national consensus on the economic policies based on vision and pragmatism, bidding adieu to politics of self-aggrandisement, negativity and spreading despair and frustration among the masses. Detractors of the present government need to see the realities in their true perspective and play their role in the advancement of the country, in conformity with the demands of their profession as the fourth pillar of the state.
Ambassador's intention well take but are we putting too many eggs in CPEC basket? The development of infrastructure certainly helps in boosting economic output and I sincerely think that this may happen but there are several other varialbles that also play a vital role in the industrialization process. I wish that may also happen.
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