Ayesha Saba

The government is actively engaged in discussions with its European and Chinese counterparts to propose Gwadar as a viable route for safe transportation of gas from Central Asian countries. This initiative has been taken in view of the Ukraine crisis and the changing global energy landscape, reports WealthPK. Sharing his views with WealthPK, Adnan Khan, a research associate at the Centre of Excellence-China Pakistan Economic Corridor (CoE-CPEC), said, “The changing geopolitical conditions have shifted the alignment patterns from politics to economy as a priority. Pakistan may therefore create links and generate wealth to lessen the upcoming challenges and pressures by enhancing economic activities within the region and beyond.” “From such collaborations, Pakistan can benefit economically through transit fees, trade opportunities, and enhanced regional connectivity.

These initiatives can spur economic growth, create employment opportunities, and foster stronger diplomatic relations with partner countries,” he said. “Owing to the ever-increasing importance of China in the international arena, the Gulf states are gradually gravitating toward Beijing. Furthermore, since China is the net importer of oil, the Gulf states see Gwadar as an opportunity to export their precious resource to Chinese manufacturing units,” he said. “Similarly, the Gulf states, in their bid to diversify their economies and decrease their over-dependence on the oil revenues, are looking towards China for help in setting up manufacturing hubs in the region. They will benefit greatly from having a direct connection to a manufacturing giant through the Pakistani port of Gwadar,” Adnan said.

“To address the prime issues in Gwadar, the government has started many projects over the years. Coastal Highway from Karachi to Gwadar has been constructed. N-85 has been completed, while fast-track work on M8, from Khushab to Awaran, is under construction to ensure road connectivity of Gwadar. The China-Pak Friendship Hospital, China-Pak Technical and Vocational Institute in Gwadar, Gwadar East-bay Expressway Project, Gwadar Free Zone, and Gwadar Port, are poised to transform the region into a vibrant economic hub,” he added. “There has been a recent influx of government imports of bulk cargoes at the port as three consecutive vessels, each carrying 90,000MT urea, have already arrived at the port.

This influx of cargo will lead to increased economic activity in the Gwadar region, creating job opportunities and boosting the local economy,” he said. According to Secretary of Planning Zafar Ali Shah, the New Gwadar International Airport is all set to become functional in September 2023 and the government is putting more focus on increasing commercial activities at the Gwadar port, which will not only create additional jobs for locals but also help increase other economic activities in the region.

Credit: INP-WealthPk