Latest News
CPEC 2nd phase boosts “Pakistan 12th 5-year plan “2018-23”
Last Updated: 2019-11-13 11:32 | CE.cn
 Save  Print   E-mail
by Yasir Habib Khan
 
With rebooting Pakistan economy, CPEC 2nd phase has put Pakistan into strong position to achieve its own 12th 5-year plan 2018-2023.
 
Vision 2018-2023 has been designed by Ministry of Planning, Development and Reforms, Government of Pakistan.
 
From first phase to second phase, journey of CPEC remains uncompromised and this momentum has charged up Pakistan to meet national targets and international goals.  
 
Last week, Pakistan and China held 9th JCC meeting that rolled out CPEC second era with positive note. It covered the areas of industrialization, SEZs, Agriculture socio-economic cooperation, skill developments, rail, road and port’s infrastructures.  All these priorities are directly in conformity with 12th 5-year plan 2018-2023. 
 
The National Economic Council (NEC) also agreed 12th five-year plan in chair with Prime Minister Imran Khan. Attendees were Adviser Finance Dr. Abdul Hafeez Sheikh, Planning Minister Makhdoom Khusru Bakhtiar, Adviser Commerce Mr. Abdul Razzak Dawood, Governor KP Mr. Shah Farman, Chief Minister Punjab Sardar Usman Buzdar, CM Sindh Syed Murad Ali Shah, CM Khyber Pakhtunkhwa Mr. Mehmood Khan, CM Balochistan Mr. Jam Kamal Khan, Finance Minister Punjab Makhdoom Hashim Jawan Bakht, Mr. Nisar Ahmed Khuhro, Ms. Naheed S. Durrani, Finance Minister KP Mr. Taimur Saleem Khagra, Mr. Jan Muhammad Jamali, PM Azad Jammu & Kashmir Raja Farooq Haider, Chief Minister Gilgit-Baltistan Hafiz Hafiz-ur-Rehman and others.
 
12th Five Year Plans involve regional development; resource mobilization, social protection; connectivity, promoting knowledge economy and Clean and Green Pakistan. PSDP 2019-20 suggests priority initiatives in the field of agriculture, information technology, higher education, science & technology and technical education and training.
 
Keeping in view targets of 12th 5 years plan 2018-2023, Federal Minister for Planning, Development and Reform Makhdum Khusro Bakhtyar headed Cabinet Committee on China-Pakistan Economic Corridor (CPEC) and deliberated ML-1 railway project besides formation of a high level financing expert group to deliberate on loan modalities.
 
Insightful analyses of CPEC publication falling issue volume 3 under the aegis of Pakistan ministry for planning, development and reforms, manifest that vision 2018-2023 conforms with six major areas that are to be concentrated for the expansion of CPEC. These areas are Trade & Market Access; Industrial Development & Global Value Chains; Socioeconomic Development & Poverty Alleviation; Agriculture Modernization & Marketing; Gwadar Oil City & Blue Economy; Regional Connectivity & Third Country Participation along with the ongoing projects/ areas. 

Trade and Market Access
 
In tune with 12th 5-year Plan that emphasizes trade and market access, CPEC 2nd phase pivots the same. The variety of projects in the areas of trade and market access under CPEC originates a plethora of opportunities in different spheres of life. In this connection, collaborative bond with China will be the rich source of promoting trade, facilitating market access, elevating the standard of living and achieving sustainable inclusive growth in Pakistan. In addition, through CPEC, Pakistan will be able to open its doors to the world by expanding its trade and transport links, as well as boosting economic influence across Central Asia, South Asia, Middle East, Africa and Europe. Special Economic Zones (SEZs)/Export Processing Zones (EPZs) under CPEC are being developed keeping in view the objectives of fast-track industrial growth and export promotion through diversified products. Furthermore, while developing SEZs/EPZs, due consideration may also be given to the fact that the exports could be boosted by ensuring value addition in existing exports through manufacturing processes. China is the second largest economy in the world and is the leading exporter of the world with $2.2 trillion and the second largest importer worth $1.8 trillion. Pakistan is currently exporting goods and services worth $1.5 billion to China which could be enhanced manifolds through cooperation between both the countries and an increased market access to the Chinese markets. In this regard, the China Pakistan Joint Chamber of Commerce and Industry could be instrumental.
 
Industrial Development and Global Value Chain
 
Under the fold of Industrial development and global value chains, there is consensus to boost industrial cooperation and import substitution with China in various sections including food packaging and processing, agriculture, technology, iron and steel, marble and granite, textile and petrochemicals and light engineering sector supported by industrial relocation and investment of the Chinese industries and other investors (locals and diaspora). The process is expected to increase export and create import substitution.
 
Socio-Economic Development and Poverty Alleviation
 
The socio-economic development and poverty alleviation are on the top of the agenda of the CPEC projects in the second phase of development. Pakistan highly acknowledges the importance of social sector development for the prosperity of the country. In this regard, a Joint Working Group is established under CPEC for socio-economic development and poverty alleviation, addressing issues such as housing, relocation of labour-intensive industries, skill training, off-grid solar household solutions, job creation, clean drinking water, education, healthcare, forestry, technology transfer etc. It will further consolidate the bilateral relationship between the two countries under CPEC and enhance cooperation in socio-economic development and poverty alleviation in less developed areas of Pakistan (given below), as well as establish a mechanism of knowledge sharing and experience exchange through friendly cooperation between both the countries. During the next five years, CPEC will focus on improving the basic public services for people of Pakistan, all-round cooperation through different CPEC projects would show a preference for local residents in employment, and the exchange and cooperation in different areas concerning people's livelihood would lead to the socio-economic development and poverty alleviation in Pakistan.
 
Agriculture Modernization
 
Agriculture is one of the key labour-intensive sectors of the economy. More than half of the population particularly the rural population depending upon the agriculture for livelihood thus contributing towards poverty alleviation. The sector contributes 19% to GDP and expected to double by 2030. Over the last years, a noticeable growth of 3.81% has been witnessed that surpassed the targeted growth of 3.55%. It shares 20% in total exports and target is set to increase its share in total exports by 2.5% in the next five years. The sector absorbs 43% of labour force and providing livelihood to 64% of the rural population. Livestock is the dominant sector as it contributes 59% in agriculture and shares 11.11% to GDP, whereas, crops, forestry and fishing performed well and witnessed a significant growth of 3.81%, 7.17% and 1.63% respectively. China and Pakistan, in 2nd the phase, will give full play to their own comparative advantages to strengthen agricultural activities within the CPEC portfolio and would play their active roles in agricultural exchanges and cooperation to promote the systematic, large-scale, standardized and intensified the development of the agricultural sector. Some of the recommendations in this regard include: ? Sharing of Remote Sensing Technologies for Land Fragmentation, Land Consolidation and Land Zoning ? Joint research on Conventional and Genetically modified seed varieties ? Collaborative Development of Agro-Ecological Zones ? Jointly establish laboratories for testing, monitoring and management of crops, horticulture, livestock, aquaculture and poultry ? Encourage the Mutual Recognition Agreement (MRA) to boost trade ? Jointly establish Vocational Training Institutions to uplift Agriculture Sector Productivity ? Mutual Development of a Platform to conduct Trade dialogues on Agriculture Sector ? Co-Branding the Agro products and boosting the multi-lateral trade ? Establishment of Agriculture Machinery Production and Demonstration zones in the BRI countries In addition, both China and Pakistan would promote the transition from traditional agriculture to modern agriculture in the areas along the CPEC to actively boost the development of the local agricultural economy.
 
Gwadar Oil City and Blue Economy
 
Under the CPEC portfolio, Gwadar holds the key importance. The strategic focus on simultaneous development of Gwadar port and city — in the form of a new smart port city master plan —. Gwadar has the potential to attract domestic and foreign investments in the region and develop it in an integrated regional manufacturing and energy hub/oil city. The strategies for Blue Economy in the context of Gwadar will be adopted during the next five years to promote activities in coastal areas of Gwadar. Efforts would be made for sustainable fisheries initiatives and to harness ocean and coastal-related resources like building fish stocks, enhancing fishing capacities, and implementing the controlled harvest mechanisms. Innovative methodologies would be used for expansion in eco-friendly services in Gwadar and at other coastal areas of Pakistan. The next phase of development under CPEC will address the potentials and key issues related to the energy potential, blue economy and to maximize the gains. In addition, during the next phase, the blue economy concepts would be governed by processes that are based on: mutual trust and respect, inclusiveness, allows equitable sharing of mutual benefits, marked by stakeholder participation; scientifically sound information; accountable and transparent; holistic and cross-sectoral; and innovative and proactive. Active cooperation and partnerships would be ensured within and amongst public and private sectors to steer the concept of blue economy in Gwadar with special recognition of the needs of the local people, and in line with existing international, regional and national commitments. One-third of the petroleum imports of Pakistan are in the form of refined oil, which is substituted with the crude oil could save around $3-3.5 billion a year for which a couple of oil refineries would be required to be established in Gwadar.
 
Yasir Habib Khan, special correspondent of China Economic Net, President of Institute of International Relations and Media Research (IIRMR).  
 

(Editor:Agnes)

Share to 
0
Related Articles:
BACK TO TOP
  • Sports
  • Soccer
  • Basketball
  • Tennis
  • Formula One
  • Athletics
  • Others
  • Entertainment
  • Celebrity
  • Movie & TV
  • Music
  • Theater & Arts
  • Fashion
  • Beauty Pageant
Edition:
Link:    
About CE.cn | About the Economic Daily | Contact us
Copyright 2003-2024 China Economic Net. All right reserved
CPEC 2nd phase boosts “Pakistan 12th 5-year plan “2018-23”
Source:CE.cn | 2019-11-13 11:32
Share to 
0