ISLAMABAD: Renowned Economic, Energy, and Business Leadership came together for highlighting and exploring trade and strategic ties with the regional countries for boosting National and Regional Economies, through the development of infrastructure of Roads and Rail links, Energy Corridors, and Digital Connectivity.
Speaking at the “Thought Leaders Dialogue - The Next Great Infrastructure Connector,” organized at a local hotel recently, by Nutshell Group and CORPORATE PAKISTAN GROUP, the speakers emphasized the need for a national consensus of all political parties on the core issue of the continuity and consistency of long-term policies. The roadmap of economic recovery is only possible under a comprehensive charter of the economy which is honored by all stakeholders.
Muhammad Azfar Ahsan, Founder & CEO, Nutshell Group and CORPORATE PAKISTAN GROUP and Ex-Minister of State & Chairman Board of Investment, opened the session with his brief overview of the necessity to address the concern for regional connectivity as a pillar for the economic development of Pakistan. He stated the need for a strong policy structure that should be long-term. He hoped to have this session become an effective platform for highlighting the same.
Senator Dr. Musadik Malik, Minister of State (Petroleum Division), shared his affirmation of the same by stating that ‘’Countries do not grow in isolation, rather regions grow, together like ASEAN, NAFTA, and GCC.’’ He said the economic growth of the region can only be sustainable with ties and development of projects of trade and energy infrastructure regionally. Lack of consistency and sustainability has already impacted the GDP negatively, up to 2 to 2.5% per the World Bank’s study. A small example of LNG can go a long way. Pakistan can import and become an exporter to the landlocked Central Asian states through Gwadar. He mentioned that TAPI and IP gas pipeline projects are very good projects but the regional instability remains the hindrance. Pakistan has to mitigate the security risk and diversify its energy mix.
Also read: Lucky Cement wins the 8th International Environment, Health and Safety Award 2022
Dr. Moeed W. Yusuf, the Former National Security Adviser of Pakistan, commented on the 92% of border sharing with 3 important countries, India, Iran, and Afghanistan yet due to geopolitical challenges the trade has potentially suffered. Geo-economy is the combination of regional connectivity, partnership, and collaboration. Most Pakistan maintains fences with Iran and Afghanistan and the movement of the trade should be streamlined in a way that the fence should be a facilitation rather than a hindrance to the regional trade.