New Chinese investment, stability & CPEC

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Naveed Aman Khan

AS many as fifty five heads of different small and medium size Chinese companies recently assured Prime Minister Imran Khan for their investment worth five billion dollars in Pakistan during next three to five years. Prime Minister Imran Khan has welcomed the interest of Chinese Companies from the core of his heart. The investment and transfer of industrial set-up by Chinese Companies will generate over fifty thousand jobs in Pakistan during the first year. In economic crisis-like situation it is not less than a blessing that the Chinese corporate leaders with their businesses in multiple areas, including small and medium enterprises, have shown keen interest to invest in Pakistan. The meeting was the follow-up of Prime Minister IK’s visit to China in April 2019 where the leadership of the two countries agreed to strengthen bilateral relationship in key areas, particularly trade and investment. Inspired by the strategy of Chinese leadership on peace, governance and poverty alleviation, Government of Pakistan is learning from these experiences to achieve the goals of national prosperity. China always has sided with Pakistan in tough times, adding that the two peoples are tied with a strong bond of friendship.

On China-Pakistan Economic Corridor (CPEC), the project would prove a game changer in exploring the true potential of bilateral small and medium level trade relations ahead. These small and medium size investors will definitely change the mindset of investors from different parts of the world. This tendency of investors will surely help alleviate poverty in parts of Pakistan. Implementation of CPEC-related initiatives is a priority of Pakistan. China would extend full cooperation to Pakistan in promoting business activities and establishing strong trade links for Pakistan’s economic stability. In fact government’s lucrative incentives will attract foreign as well as local investors to invest in Pakistan. Economic policy makers and revenue collectors will set the future lines of economy of Pakistan.

As a matter of fact economic development of any country is based on political stability. Politically stable countries send positive indicators to the foreign investors. Investors all over the world invest in those countries where incentives regarding duties and taxes are made lucrative and procedures are made simple. Stable conditions ensure protection of their businesses. During 2013-18, procedural matters of Government of Pakistan have been quite easy and accommodating but now the situation is not the same. Government of Pakistan needs to review its working style with the foreign investors. The minimum the investors face difficulties in any country the maximum they focus on the development and production.

During Premier IK’s official visit to America suicidal attack by a young girl in Dera Ismail Khan has once again jolted the roots of already fragile economy of Pakistan. This attack has sent strong negative message to the foreign investors. Terrorists have designed this attack keeping in mind the positive tendency of the investors of China and America. After meeting Chinese investors in Islamabad, Premier IK has been meeting with American and Canadian investors. The recent terrorist attack in D I Khan has dented image of secure Pakistan once again. Foolproof security is the dire need of foreign investors. It is true that Pakistan has controlled terrorism up to maximum extent but it is not controlled completely. This suicidal attack also indicates that politically the country is still unstable. Terrorism flourishes in unstable countries. It also indicates that enemies of Pakistan are still very strong. Government of Pakistan needs to review its political working style and policies so that terrorists could not find any loose passage to get in. Government will have to pay attention on all corners around to cordon tight security. It will have to address all reasons of terrorism. Our enemies are very strong and professional. Government needs to be more vigilant than the terrorists. Vigilance of the security forces will get control over still shaky situation. If this unfavourable situation continues, it will push Chinese investors back. If Pakistan is willing to make itself one of the leading economic powers of the region, it will have to focus on political stability and foolproof security. After the achievement of these factors no one can stop Pakistan from making gigantic matchless development.