Former president of the State Bank of Pakistan (SBP) Dr. Ishrat Hussain has said that the China Pakistan Economic Corridor is a good strategic option for progress.
Delivering a talk on “Economy of Pakistan; past and future” at a day-long seminar on Interplay of Economy and Security on Wednesday, he discussed three possible scenarios: optimistic, pessimistic and emerging through.
He also highlighted the wastage of civil resources. “Anything new is glamorous and attractive but because of poor maintenance and indifference, operation of existing policies bring lots of losses in the country,” he said.
The seminar has been organized by the Inter Services Public Relations (ISPR), in collaboration with Federation of Pakistan Chambers of Commerce and Industry.
The seminar was earlier scheduled on 31 August but postponed due to weather hazard, according to the ISPR.
Senator Mushahid Hussain Sayed, in his talk, said that crafting a new narrative is the way forward.
He further said that we need a collective approach and that there should be zero tolerance for corruption.
Dr. Ashfaq Hassan while speaking about the CPEC said that leadership, policy and reforms will determine the benefits Pakistan will reap from the plan. Hassan said that China wants to relocate its industries in Pakistan, according to ISPR.
In his address, Dr. Hassan said that the details of the CPEC should be shared with the public and the stake holders.
While dismissing general suspicions that China is likely to become the East India Company and the project passing through disputed territory, Hassan said described the history of Karakoram Highway and Mangla Dam.
Other speakers to address the seminar include Dr. Farrukh Saleem, Dr. Ainul Hassan, Dr. Salman Shah and Frontier Works Organization DG Lt Gen Muhammad Afzal.
ISPR DG Maj Gen Asif Ghafoor gave the welcome address at the seminar.