–Experts urge to learn from China for economic development
KARACHI: Veteran economist Dr Ashfaq Hassan said on Wednesday that leadership, policy and reforms would determine the size of benefits that the country would reap from China Pakistan Economic Corridor (CPEC).
He was speaking at a seminar organised by Inter-Services Public Relations (ISPR) in collaboration with Federation of Pakistan Chambers of Commerce and Industry (FPCCI).
According to ISPR, he said China wanted to relocate its industries in Pakistan. He was also of the view that serious efforts were required for the betterment of higher education in Pakistan.
He dismissed that China was likely to become the East India Company. He also rejected that the CPEC was passing through the disputed territory and in order to prove his point he described the history of Karakoram Highway and Mangla Dam.
He was of the view that details of CPEC should be shared with the public or at least the stakeholders.
FPCCI chairman Zubair Tufail said that Pakistan should follow the footsteps of China in order to become economically stronger.
He highlighted the FPCCI’s role in country’s economy. He said, the private sector, by providing jobs could play a vital role for the strong economic position of the country. Pakistan should also allow the third world countries to invest here. He added China should also be asked to open more markets for Pakistan. He lauded the role of Pakistan Army and Rangers for eradicating the menace of terrorism from across the country.
Analyst Dr Aynul Hassan while talking on Asia’s transition into the 21st century presented comparisons of Pakistan’s economy with rest of the of the Asian countries. He also discussed important role played by traditional economic theories in the economic well-being of countries.
Social sector investment is a long-term and continuous proposition, he said. Economist Dr Salman Shah while talking on the importance of CPEC and making Pakistan a global powerhouse said that an economic corridor generally connects regional economic centres in the most efficient and convenient manner. The software of CPEC was more important than hardware. China is now the world’s largest economy and it can be a big source of investment capital, technology and know-how for Pakistan’s economic progress, he said.
He added Pakistan should learn from China how to manage and maintain economy adding, “CPEC creates economic and trade connectivity within Pakistan.”
Dr Farrukh Saleem, another economist and analyst on the occasion talked about threats to economic security within national security matrix. He said that Pakistan needed to focus on economic growth capitalising on improved security environment.
