by Khalid Aziz

 

ISLAMABAD, Jan 20 (China Economic Net)- A research paper published by Islamabad-based think tank, Centre for Global and Strategic Studies, states that Pakistan should follow China in carving out an economic model based on indigenous wisdom in accordance with its own ground realities.

 

Instead of relying on foreign growth models, China tailored one according to her own specific dynamics and national aspirations, the paper tells. The Chinese economic model was based on gradual reforms and was modified at every stage according to the new circumstances, it says.

 

The paper, titled Grand Economic Reset and Economic Agenda 2047, has been authored by Shakeel Ahmad Ramay, CEO Asia Institute of Eco-civilisation Research and Development, and Shafin Waqar, a student of Carnegie Mellon University, USA.

 

The paper also advocates China-like land reforms to boost the agriculture sector and highlights the areas where Pakistan can seek Chinese collaboration for economic uplift. Pakistan has already signed MoUs with China regarding agriculture cooperation. One area, among many, is soybean cultivation, which is in high demand in China, the paper suggests. The authors also urged Pakistani authorities to develop its tourism sector to attract Chinese tourists. Around 150 million Chinese tourists visited the world in 2018, the paper states. Pakistan can also attract religious tourists from China, it notes.

 

The paper stresses collaboration with China for promotion of tourism in Pakistan, suggesting that China’s Guizhou and Pakistan’s Gilgit-Baltistan should be awarded sister provinces status for that purpose. The paper notes that the hassle-free roads network being developed under the China-Pakistan Economic Corridor (CPEC) initiative would prove as a booster for Pakistan’s tourism sector.

 

The paper also asked Pakistani authorities to fast track development of the CPEC Special Economic Zones to attract investments from Chinese as well as other companies. Like China, the government should incentivise investment in remote, less-developed and troubled areas, the paper argued. Similarly, small and medium enterprises still hold a special place in China’s development policy. Pakistan should also follow China in this regard to tackle the issue of poverty and unemployment in villages and small towns, the paper states.

 

Moreover, Chinese enterprises invest in skill development to produce high-quality manpower for the industry. Pakistan should also bind industrialists to invest in human resources for speedy development, the paper states.