Pakistan To Follow Chinese Model Of Economic Development: Ahsan Iqbal
Sumaira FH Published August 18, 2022 | 03:00 PM
ISLAMABAD, (UrduPoint / Pakistan Point News - 18th Aug, 2022 ) :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;Federal Minister for Planning Development and Special Initiatives Professor Ahsan Iqbal said this while addressing China Pakistan Economic Corridor (CPEC) Green Development, High Level Dialogue organized by Sustainable Development Policy Institute (SDPI) here.
The Minister said that Pakistan has always lacked political stability and continuity in economic policies due to which economic development has not been possible.
Ahsan Iqbal said that in the year 2020 China's industrial relocation was to take place 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 SouthEast Asian Nation (ASEAN) countries.
The Minister said that in 2013, the government of Pakistan started Special Economic 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.
Ahsan Iqbal said that in 2013, China Pakistan Economic Corridor (CPEC) was started by the former prime minister Nawaz Sharif for bringing the $46 billion investment in infrastructure and energy projects.
On this occasion, he said that China and Pakistan have agreed to work together on a green economy.
He said that the current leadership of China believes in environment-friendly industrial development and in the future they were giving special importance to environment-friendly policies in new projects.
He said that Pakistan and China were starting work on several green energy projects which would help in improving the environment.
Ahsan said that most of the solar and wind energy projects would start a new era of sustainable economic development in the country.
He said that 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", he said.
Talking to media persons on the occasion, Ahsan Iqbal criticized the CPEC Authority and said that not a single Dollar had been invested in this project after the creation of this authority.
Earlier, an investment of $29 billion Dollars had come in the CPEC project.
That is why now "we are going to the mechanism followed from 2013 to 2019 so that this project can be implemented in a good way."He said that China had agreed to bring more investment in this project.
Related Topics
Recent Stories
Under training officers visit Special Branch Headquarters Roberts Club
Industries promotion can help eliminate unemployment : Sindh Minister for Indus ..
Step afoot to ensure durable peace in Balochistan: Ziuallah
PML-N office torching cases: ATC summons PTI leaders, others for indictment on M ..
Oman, UAE deluge 'most likely' linked to climate change: scientists
CRBC tender to be floated by June; Chief Minister Khyber Pakhtunkhwa Sardar Ali ..
122 cases registered against accused involved in drug trafficking
Models, poster and quiz competition held at AIOU
Passco GM, deputy visit wheat procurement centers in Burewala
Non-Muslim Pakistanis enjoy freedom, state patronage: Kundi
Dengue Control Committee gathers in Jhang
BHP launches $38.8 billion takeover bid for rival Anglo American
More Stories From Business
-
Higher taxes, awareness help decrease cigarettes sale in Pakistan
1 hour ago -
Ahsan Iqbal chairs CPEC JWGs, 13th JCC review-meeting
1 hour ago -
Industries Minister recommends urea fertilizer import to stabilize prices and supply
1 hour ago -
Honda announces US$11 bn EV battery and vehicle plant in Canada
1 hour ago -
Zhao Shirin calls on Punjab Industries Minister
2 hours ago -
CEO APM Terminals calls on Finance Minister
2 hours ago
-
SACM visits GTVC checks attendance register
2 hours ago -
CEO APM Terminals meets Commerce Minister
2 hours ago -
RTO destroys huge quantity of non-duty paid cigarettes
2 hours ago -
Pakistan's total liquid foreign reserves reach $ 13.28 billion
2 hours ago -
RDA inflows rise to $7.660 bn in March 24
2 hours ago -
FPCCI welcomes direct flights between Pakistan-Azerbaijan
2 hours ago