Political Stability Path To Economic Progress In Pakistan: Ahsan

Minister for Interior Prof Ahsan Iqbal Tuesday here said economic progress in Pakistan could be ensured with political stability and by forging a closer partnership with China

ISLAMABAD, (UrduPoint / Pakistan Point News - 29th Aug, 2017 ) : Minister for Interior Prof Ahsan Iqbal Tuesday here said economic progress in Pakistan could be ensured with political stability and by forging a closer partnership with China.

Speaking at a seminar on "Establishment of CPEC Consortium of Business Schools" at National University of Science and Technology (NUST), he said if the country lacked political stability, no kind of policies could ensure economic progress.

He said China had created prosperity and became engine of economic growth by maintaining political stability. The minister said CPEC was not just projects of roads and energy but it would help Pakistan graduate to another level of industrialization and development.

"Aim of CPEC is to bring structural transformation in the economy of Pakistan. Pakistan must graduate from an agrarian economy to industrial economy." He said consortium of business schools of Pakistan and China was another step towards realization of CPEC that would start a new era in the region.

Ahsan called China the most trusted friend of Pakistan. "In the last 70 years, China has never disappointed Pakistan. China has approval rating of 91 per cent in Pakistan, which is the highest in the world.

Chinese have similar sentiments towards Pakistan." Ahsan said in 2013, the world was shy of Pakistan as its economy was under stress, energy shortages were 20 hours long and its security situation was bleak.

However, he said since 2013, the government worked hard and considerably reduced the energy shortages and broke the back of terrorists and brought peace to the country. He said $36 billion worth of CPEC projects were energy projects based on hydel, coal, solar and wind energy, adding coal projects were based on super critical technology that was clean technology.

The energy projects could not only be environmentally friendly but would also bring down the cost of electricity, he added. Ahsan said in 1980, China had a per capita income of $ 200 while Pakistan had per capita of $ 300 but now China leapt to per capita of $ 8,000 while Pakistan was left behind at $ 1,500.

The minister said China was not only the world's biggest exporter but also the second largest importer with imports of $ 1.3 trillion and Pakistani entrepreneurs and businessmen could avail trade opportunities by learning more about the Chinese economy.

Pakistan could be the world's 25th biggest economy by 2025 and this fact was validated by PricewaterhouseCoopers, he said, adding Pakistan could be the world's 20th largest economy by 2030 by continuing with the right set of policies.

He said Gwadar port could be an alternative to China's South China Sea route and could also provide trade routes to Central Asian states and become part of new supply chains.