ISLAMABAD:The Chinese enterprises have increased logistical options for Pakistan under the China-Pakistan Economic Corridor (CPEC), which increases the strategic position for transit trade in the region, reports WealthPK.
Pakistan’s logistics sector is growing rapidly, making it an excellent investment time for Chinese enterprises. Efficient logistical procedures are essential to reduce costs and maintain and increase efficiency.
The country’s economy relies on a functional and well-developed transportation system. Currently, the government is working to build a modern network of links that will help Pakistan become a regional hub.
A strong inward and outward linkage would make the private sector more efficient, attract foreign investment, increase exports, create employment, and enhance prospects for long-term, inclusive prosperity.
Talking to WealthPK, Professor Zahid Mehmood Akhter, a lecturer at the National University Modern Languages (NUML), said CPEC was improving the country’s transportation infrastructure and will help eliminate regional inequities, and bring prosperity to the country. Although CPEC has made significant progress in the past two years, more efforts are needed to achieve a well-balanced transport model, he added.
Pakistan has embarked upon various infrastructure development programmes to enhance regional connectivity, and improve the efficiency of transport and trade and logistics for the socio-economic growth of the country. China’s expansion in logistical choices will draw investors to Pakistan since there will undoubtedly be a favourable atmosphere for foreign direct investment in Pakistan when there is infrastructure development and facility expansion.
“CPEC is a huge investment and requires highly specialised labour for the economic operations. For instance, if we need industry, we will also need a skilled workforce. Therefore, the Chinese logistical help will play a crucial role in monetizing our skills. In the long run, it will be advantageous to us and we will be sufficiently specialised to reap the greatest rewards from it, i.e. increased efficiencies, lower costs, increased knowledge and experience, and facilitation in market expansion and business growth.
The integration of computer techniques and automation in infrastructure will allow simultaneous achievement of logistical effectiveness goals. In addition to developing the infrastructure, we will also be able to transform our economy into a sort of industrialised economy by creating economic zones related to CPEC.”
According to Prof Akhter, the expansion of logistical options will strengthen the country’s efficiency, which will ultimately have a favourable impact on the national debt, currency value, international competition, availability of investment capital, and economic growth, thus raising employment and living standards.
