Skip to main content

Pakistan’s economic woes five-month ahead of elections: Global Times

https://fp.brecorder.com/2018/03/20180301348104/

 RECORDER REPORT  MAR 1ST, 2018  BEIJING

Pakistan's economic woes have worsened five months before national polls, according to a report by Bloomberg. China will likely be willing to offer more assistance to help its neighbour improve economic conditions, but the question is how to find an effective way, reports Global Times on Wednesday. Pakistan's trade deficits are hitting records while its foreign exchange reserves continue to fall, Bloomberg reported. Pakistan's economy is facing chronic problems for many reasons, but the fact that Pakistan's GDP grew 5.3 percent in fiscal 2017 - the fastest pace in a decade - can't be ignored.

Quoting official sources, the report says, the two countries will move ahead with the China-Pakistan Economic Corridor (CPEC), which has become a driving force for Pakistan's economic growth. The question is how its investment-driven growth can be transformed into internal momentum for economic expansion. While the first phase of the CPEC concentrated on infrastructure projects, the second part should focus on setting up special economic zones and establishing mutual connectivity to support economic integration.

Pakistan's strategic location is a major attraction for companies to invest in and obtain lucrative returns. Now, the nation must give full play to its advantages. The most important maritime trade route that China has now is through the South China Sea and the Strait of Malacca. The CPEC is designed to connect Gwadar Port in Southwest Pakistan with China's inland areas, offering another route for Chinese importers and exporters.

Improvements in Pakistan's trade-related sectors, such as warehousing, logistics, integrated services and e-commerce, can turn the nation into a new transhipment point for exports to China. Efforts to upgrade the bilateral free trade agreement will also help realize economic potential. Trade and financial deficits have long been seen by some observers as the thorniest issues faced by the South Asian country. Making Pakistan a new transhipment point will help the nation boost exports and slash its trade deficit with China. This situation may also help Pakistan conserve its foreign exchange reserves.

China is expected to continue to encourage outbound investment, but investors should also be reminded to exercise caution. The CPEC is one of the flagship projects in China's Belt and Road initiative. The Chinese government should give more guidance to companies with an eye to the South Asian country to reduce the risk of inefficient investment

Comments

Popular posts from this blog

Balochistan to establish first medical university

https://www.dawn.com/news/1366135

The Newspaper's Staff CorrespondentOctober 25, 2017QUETTA: The provincial cabinet on Tuesday approved the draft for establishing a medical university in Balochistan.Health minister Mir Rehmat Saleh Baloch made the announcement while speaking at a press conference after a cabinet meeting.“The cabinet has approved the draft of the medical university which would be presented in the current session of the Balochistan Assembly,” he said, adding with the assembly’s approval the Bolan Medical College would be converted into a medical university.Published in Dawn, October 25th, 2017

5 Shia Hazara community members gunned down in Pakistan

http://m.hindustantimes.com/world-news/5-shia-hazara-community-members-gunned-down-in-pakistan/story-CHWR4lYByRHzf2KjHjMloI.html



Five members of the minority Shia Hazara community, including two women, were killed on Sunday in an attack by unidentified gunmen in Pakistan’s restive Balochistan province.This is not the first time that members of the Hazara community have been targeted in Quetta and other parts of Balochistan.(Reuters File Photo)Updated: Sep 11, 2017 00:20 ISTBy Press Trust of India, Press Trust of India, KarachiFive members of the minority Shia Hazara community, including two women, were killed on Sunday in an attack by unidentified gunmen in Pakistan’s restive Balochistan province.The gunmen targeted a car in Kuchluck area of Quetta while it was coming from the Chaman border crossing area, police said.The firing took place when the travellers had stopped at a filling station to refuel their vehicle. Five people of the Shia Hazara community, including two women, died in …

China’s 'Digital Silk Road': Pitfalls Among High Hopes

https://thediplomat.com/2017/11/chinas-digital-silk-road-pitfalls-among-high-hopes/


Will information and communication technologies help China realize its Digital Silk Road?By Wenyuan WuNovember 03, 2017In his speech at the opening ceremony of China’s 19th Party Congress, President Xi Jinping depicted China as a model of scientific and harmonious development for developing nations. Xi’s China wants to engage the world through commerce but also through environmental protection and technological advancement. This includes Beijing’s efforts to fight climate change with information and communication technologies (ICTs) that it plans to export along its “One Belt One Road” initiative (OBOR). Xi may have ambitious plans, but could China be throwing up obstacles in its own way?In his speech, the Chinese president emphasized the need to modernize the country’s environmental protections. The Chinese state is taking an “ecological civilization” approach to development and diplomacy, with a natio…