An Asian Development Bank (ABD) mission led by Peter Turner, on Wednesday visited Lahore Transport Company (LTC) Headquarter to inspect transport projects started by the provincial government.
It was discussed during the meeting between the LTC officials and ADB representatives that development in the transport sector is considered essential for a robust economy of any country. Taking the public-private partnership model into perspective, Pakistan possesses an enabling environment for the foreign investors and potential to unleash the available investment opportunities, the LTC officials said. The LTC officials also talked about the National transport policy master plan, national road safety programme, road assets management which is vital for enabling economic corridors through sustainable transport sector development for realising the Pakistan’s vision 2025. The purpose of visiting various government departments is to discern the views and priorities of the provinces, the ADB member’s delegation stated.
The meeting was attended by Peter Turner, Trade Facilitation Specialist David Hunter, LTC CEO Khawaja Haider Latif, Mott McDonald Deputy Team Leader Mahboob Elahi, CFO Mariam Khawar, COO Zafar Qureshi and DM Communication Nasir Hussain.
The ADB delegation was also briefed by the LTC CEO in regards to the new initiatives and existing projects of public interest in respect of public transportation improvement in the city. He highlighted that the LTC was suggesting new projects in upcoming development programme such as drivers training simulator programme, school buses project, provision of installing new bus sheds for public transport infrastructure.
The ADB mission also called on LCCI President Abdul Basit and a number of issues were a matter of discussion during the meeting including the National Transportation Policy, Economic development of Pakistan, the business climate in the country and china Pakistan Economic Corridor (CPEC).
Turner highlighted that the success of transportation systems is directly linked to the trade and economic activities of a country. He also mentioned that because of inefficiencies in the performance of the transport sector of Pakistan it costs the economy by 4pc to 6pc of the GDP annually. He also stated that Asian Development Bank has been aiding Pakistan in addressing this problem but investment in transportation infrastructure must be also be upheld by the institutional improvement.
Turner while talking about the China-Pakistan Economic Corridor (CPEC), mentioned that it is an important project that would help connect Iran, Turkey, Central Asian States and Afghanistan etc. He also added that to achieve a good outcome from CPEC, having a good transportation system is a must for the movement of trading goods.
