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Group efforts required for economic development

Group efforts required for economic development

FAISALABAD: The economic bloc comprising Pakistan, China, Afghanistan, Iran, Turkey and Russia, has 20% of the world resources and their collective efforts can make this bloc the focal point of future economic development.

This was said by the Golden Ring Economic Forum President Husnain Raza Mirza, while presenting a documentary on the emerging economic bloc.

Terming the China-Pakistan Economic Corridor (CPEC) as a blessing for Pakistan, he said that regional countries of this proposed economic bloc should share their resources for collective benefits of the region.

“In this connection we need proper, well considered and futuristic policies,” said Mirza, adding that policies should be finalised in consultation with the stakeholders and any attempt to enforce such policies from top bureaucracy should be discouraged.

“We must prefer joint ventures with Chinese investors with proper value addition in the existing sick industry.”

Moreover, such industries should be preferred in which local raw material could be used. Similarly, we should demand proportionate share of Pakistani and Chinese workers in new industrial units proposed to be set up under CPEC-related projects. He also indicated that food and water challenges are looming and we must pool our energy to effectively face these issues.

Also present in the meeting, Faisalabad Chamber of Commerce and Industry (FCCI) Vice President Ahmed Hassan said that they will fully cooperate with the Pakistani think tank, Golden Ring Economic Forum, for the preparation of Structural Economic Policy Framework (SEPF) specifically in view of CPEC and the emerging economic bloc.

He said that CPEC has increased the geopolitical and economic importance of Pakistan manifold, adding, “We are not fully prepared to exploit its maximum potential as no proper policy has yet been finalised to give a quantum jump to the Pakistan economy.”

He claimed that FCCI is the first chamber in Pakistan that has established first CPEC cell to critically analyse its pros and cons and suggest necessary remedial measures to effectively deal with the emerging challenges.

Courtesy : Express Tribune

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