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Consultative Session on converting Transport Corridors into Economic Corridors

News Desk by News Desk
October 19, 2024
in CPEC, Pakistan
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Consultative Session on converting Transport Corridors into Economic Corridors
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A consultative session on converting transport corridors into economic corridors led by Ahsan Iqbal was held.
A high-level consultative session focused on transforming transport corridors into economic corridors was held today, led by Professor Ahsan Iqbal, the Federal Minister for Planning, Development, and Special Initiatives.

In his opening remarks, the minister underscored the necessity of leveraging Pakistan’s current transport infrastructure as a foundation for broader economic development. He asserted that the nation’s future hinges on converting these corridors into vibrant economic zones. “Our vision is to utilize our transport networks to stimulate industrial growth, foster regional integration, and promote sustainable development. These corridors should serve as the lifeblood of our economy, not just for transportation, but for facilitating trade, investment, and regional collaboration,” Professor Ahsan Iqbal stated.

The session included participation from senior officials at both federal and provincial levels, along with experts from urban planning, tourism, civil society, and the private sector, all of whom aimed to devise business plans to realize this vision. Professor Ahsan Iqbal explained that “Transport corridors involve more than just constructing roads and railways—they are about establishing economic zones that connect industrial and commercial activities. We need to ensure these corridors evolve into centers of industrial growth, promoting sectors like manufacturing, agriculture, and services.”

He further stressed the significance of infrastructure in this transformation, mentioning, “Our road and rail networks are already reshaping connectivity in Pakistan. The China-Pakistan Economic Corridor (CPEC) exemplifies how transport infrastructure can stimulate economic growth by linking us to global markets and enhancing regional cooperation.”

Necessity of comprehensive business planning

A major theme of the session was the necessity for comprehensive business planning. The minister noted, “It’s essential to develop detailed business plans that outline a clear strategy for creating economic zones along these transport corridors. Conducting thorough feasibility studies, pinpointing potential industrial hubs, and creating financial models to attract both domestic and international investment are crucial steps in fostering sustainable economic opportunities.”

In discussing tourism and agri-processing potential, he stated, “With strategic planning, we can unlock substantial value along these routes, particularly by integrating tourism, agriculture, and agri-processing activities. This approach can enhance the value-added output of our agricultural products and improve our competitiveness in global markets.”

Professor Ahsan Iqbal also emphasized the importance of developing human capital, pointing out that infrastructure alone is insufficient. “We must ensure our workforce possesses the necessary skills to excel in these emerging industries. That’s why we are focusing on establishing vocational training centers and technical education programs along these corridors, enabling local communities to benefit directly from economic growth.”

Further, regarding regional integration, the minister remarked, “Pakistan’s strategic location at the crossroads of Central Asia, South Asia, and the Middle East makes us a key player in regional trade and economic cooperation. Improving our connectivity with neighboring countries like China, Afghanistan, and Iran will unleash significant economic potential. We must take advantage of this by strengthening our trade relations and fostering cross-border cooperation.”

In closing, Minister Professor Ahsan Iqbal called for a united effort, stating, “This is a national initiative that demands close collaboration between federal and provincial governments, private sector partners, and international stakeholders. Only by working together can we turn our transport corridors into dynamic economic corridors that will propel Pakistan’s development for generations to come.” Lastly, he highlighted the session as a critical moment in Pakistan’s journey toward achieving sustainable, inclusive economic growth through the strategic development of its transport infrastructure.

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