AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad: Federal Minister for Maritime Affairs, Qaiser Ahmed Sheikh, underscored China’s economic and social strides as a blueprint for development during his remarks at the Chinese Spring Festival New Year Celebrations hosted by China Media Group (CMG). He lauded China’s efforts in reducing economic disparities and improving living standards through a robust welfare system.
According to a statement by Press Information Department, the Minister pointed out China’s economic transformation, attributing its $3.5 trillion export achievement to high-quality, affordable products and a business-friendly climate. He stressed that China’s focus on education and technical training has propelled its industrial and technological sectors, fostering rapid economic growth and global competitiveness.
Despite its potential, Pakistan faces economic hurdles, holding a 9-10% share in global poverty. However, the government is initiating steps to enhance living standards and has curbed inflation’s rise. The Minister highlighted a $35 billion remittance target set to stabilize the economy.
Reflecting on Pakistan’s economic past, he noted that from 1947 to 1990, Pakistan experienced robust growth, with its GDP outpacing India’s by 50%. Yet, post-1990, India’s economy expanded 12 times faster due to consistent policies and reforms. The Minister referenced his educational contributions, drawing from China’s emphasis on technical skills and innovation.
He reaffirmed the strong Pakistan-China relationship, crediting China’s support through the China-Pakistan Economic Corridor (CPEC) for transforming Pakistan’s connectivity and energy sectors. The CPEC investment has improved infrastructure, created jobs, and stimulated industrial growth. He also highlighted Pakistan’s strategic location with deep-sea ports like Gwadar, poised to enhance regional trade.
The Minister concluded by advocating for policy consistency, educational investment, and industrial growth to emulate China’s progress, asserting that adopting China’s strategic policies could yield similar success for Pakistan.
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