Joining CPEC offers a platform for significant economic growth through investment in infrastructure and industrial projects. The corridor promises enhanced connectivity, opening up new market accesses, particularly for landlocked regions. By Qamar Bashir The arrival of Chinese Vice Foreign Minister Sun Weidong in Islamabad to attend the 4th meeting of the CPEC-Joint Working Group on International Cooperation and Coordination marks a significant milestone in the China-Pakistan Economic Corridor (CPEC) initiative. Co-chaired by Pakistan’s Foreign Secretary Muhammad Syrus Sajjad Qazi, this meeting is set to evaluate significant strides in key development areas: rural revitalization, industrialization, green development, and science...
January 22, 2024 at 2:50 pm | Economic Affairs
Panacea to Economic Renaissance SIFC can contribute significantly to inclusive economic growth and sustainable development through CPEC. This involves ensuring that the benefits of CPEC are evenly distributed, addressing regional disparities, and fostering inclusive growth. By Qamar Bashir Like many other Pakistanis, I have also been pondering why the CPEC, touted as a game changer and harbinger of development and prosperity, has almost completed its first phase and launched its second phase, but inversely, the country is in deep financial and economic difficulties, the country is faced with the worst form of inflation, investment is almost negligible, and GDP growth is even worse. Hopes for growth and development in the coming ye...
January 21, 2024 at 12:23 am | Economic Affairs
China has become the largest foreign investor in Pakistan. Under the CPEC it has invested almost $30 billion and is committed to invest more in the future. By Prof. Engr. Zamir Ahmed Awan China and Pakistan are closet friends and with relations covering political, diplomatic, economic, and defense dimensions. Irrespective of whatsoever happening in the region or geopolitics, the ties between the two countries have remained undeterred. On the economic front, China has become the largest foreign investor in Pakistan. Under the CPEC it has invested almost $30 billion and is committed to invest more in the future, particularly focusing on investment in the power sector and infrastructure development. The next stage of the CPEC is focu...
January 19, 2024 at 2:29 pm | Economic Affairs
In a historic event marked by grandeur and significance, the Qatar National Museum in Doha witnessed the spectacular launch of four international companies – Fang-da Partners, Belt and Road Trading and Contracting, Gallery Five International, and SW International. Hosted by The Belt and Road Trading and Contracting, this momentous occasion brought together distinguished figures from various sectors to celebrate the spirit of unity and collaboration.The launch showcased each partner's narrative as a tapestry of innovation and shared aspirations, laying the foundation for transformative collaboration. The captivating live creation "One World, Peaceful World" served as an evocative testament to the shared pursuit of global harmony. The conv...
January 10, 2024 at 12:02 pm | Economic Affairs
Either the IMF advice has a problem or Pakistan has failed to implement the economic reforms under the IMF policy guidelines? By Prof. Engr. Zamir Ahmed Awan Pakistan’s current economic model is not working since it has fallen behind its peers, significant progress in poverty reduction has now started to reverse, and the benefits of growth have accrued to a narrow elite, observes World Bank Country Director Najy Benhassine. “There is a broad consensus that action is needed to change policies that have plagued development, benefitted only a few, and led to very volatile and low growth,” Benhassine stated in a Policy Vision article, published in the latest UNDP publication. It is true that Pakistan is not performing well in...
January 8, 2024 at 11:34 am | Economic Affairs
The "New Era of Diplomacy" paints China as a nation standing tall, its voice confident, its actions assertive, yet its hand outstretched in friendship. By Qamar Bashir Amidst the echoes of Chinese success in every realm – from economic summits to cyberspace frontiers, from military might to diplomatic triumphs – President Xi during a meeting of the Central Committee of the Communist Party of China (CPC) discussed the work relating to foreign affairs (on December 27-28, 2023) unleashed a new wave of global engagement for Beijing. This "New Era of Diplomacy" paints China as a nation standing tall, its voice confident, its actions assertive, yet its hand outstretched in friendship. Here, aggression finds purpose, not malice; stre...
January 2, 2024 at 4:48 pm | Economic Affairs
Based on traditional wisdom, Chinese visionary leadership has launched unique approach in the geopolitics, which is gaining momentum globally. By Prof. Engr. Zamir Ahmed Awan While news of wars, tensions, confrontations, killing, bloodshed, massacre and genocide are coming from Western world. China is a unique country talking about peace, developments, and prosperity. Beijing has launched several initiatives like global security, global development, global prosperity, poverty eradication, global health, and shared. China is an old civilization and having passed several ups and downs in the history, especially being victim of the Western imperialism, Beijing has learned bitter lessons. The Opium War I & II, and Japanese aggress...
January 2, 2024 at 4:43 pm | Economic Affairs
The IMEEC project carries substantial political and economic significance. It seeks to strengthen trade and investment ties between India and the rapidly growing economies of the Middle East and Europe. By Qamar Bashir The India-Middle East-Europe Economic Corridor (IMEEC) stands as a visionary proposal aimed at creating a robust trade and investment network that would seamlessly link India, the Middle East, and Europe. This ambitious undertaking holds immense promise in terms of bolstering economic growth, fostering regional cooperation, and serving as a counterbalance to China's expansive Belt and Road Initiative (BRI). In the following discussion, we delve into the origins, significance, and potential impact of the IMEEC projec...
September 21, 2023 at 1:43 pm | Economic Affairs
In the near future, Pakistan may benefit from a harmonious alignment of government, Senate, judiciary, and the military—a formidable force that aims to combat entrenched mafias and steer the nation toward justice and prosperity. By Qamar Bashir These are undoubtedly extraordinary times in Pakistan, marked by an unprecedented alignment of leadership in all three branches of the state, all of which are now being led by individuals from Balochistan. This represents a significant shift in the landscape of governance and the vision for the nation. Muhammad Sadiq Sanjarani, who has served as the Chairman of the Senate since his inauguration on March 12, 2018, is known for his amiable and straightforward demeanor. He excels in building...
September 21, 2023 at 1:38 pm | Economic Affairs
The skyrocketing prices of basic necessities directly contribute to a decline in the purchasing power of individuals, exacerbating poverty levels and food insecurity. By Qamar Bashir High inflation in Pakistan is having a profound impact on both the nation's economy and its citizens. This ongoing inflationary trend is steadily eroding the purchasing power of the people, making it increasingly difficult for them to afford essential goods and services. Additionally, it is placing significant pressure on businesses, which are grappling with rising operational costs and shrinking consumer demand. While the crackdown on illegal currency hoarders provides immediate relief, it is imperative to implement long-term solutions to mitigate th...
September 21, 2023 at 1:30 pm | Economic Affairs
Pakistan Rupee Exchange Rate