Latest news with #CPEC-linked
Business Recorder
4 days ago
- Business
- Business Recorder
Poor connectivity, security issues hinder Gwadar Port usage: PDP
KARACHI: Though the lack of road and rail connectivity and suboptimal security are amongst the main issues hindering proper usage of Gwadar Port, but to make this key port fully functional it needs to develop an industrial and manufacturing near it on top priority, said Pasban Democratic Party (PDP) Chairman Altaf Shakoor here Sunday. He said Gwadar Port could really be made a game-changer for regional trade under the China-Pakistan Economic Corridor (CPEC), if the government is serious about working in this direction instead of lip service. He said despite being operational since 2007, Gwadar handles very little cargo compared to other ports like Karachi and Port Qasim. He said the lack of industrial and commercial infrastructure around Gwadar has hindered its growth as a trade hub. He said foreign-backed terrorists and insurgents have plagued Gwadar, with frequent attacks on workers and infrastructure projects. Security threats have discouraged foreign investors and shipping companies from using the port. He said many CPEC-linked projects like roads, railways, power plants meant to support Gwadar's development have been delayed or stalled. The promised Gwadar Free Zone has not attracted significant investment yet. The poor road network had limited logistics growth. Altaf Shakoor regretted that Chinese companies have been reluctant to invest heavily in industries around Gwadar. The government's inability to provide reliable electricity, water, and security has also deterred investors. He said while Gwadar has potential due to its deep-sea port and strategic location, it has so far failed to deliver on its economic promises. Unless Pakistan and China address security, infrastructure, and investment challenges, Gwadar may remain an underperforming asset rather than the 'next Dubai' it was hyped to be. He said that to make Gwadar Port the next Dubai, the government must speed construction of the ML-1 Railway (Peshawar-Karachi) and link it to Gwadar for seamless cargo movement. It should expand the Eastbay Expressway and connect it to the national highway network for better inland freight transport. It should develop a dedicated freight corridor from Gwadar to China (via Khunjerab Pass) to boost trade. It should build power plants (solar, wind, or coal-based) to ensure uninterrupted electricity for industries, besides setting up desalination plants to solve Gwadar's chronic water shortage. He said that unlike Karachi, Gwadar has no major industrial or urban center nearby to drive demand. He said no port succeeds without economic activity. Ports like Dubai (Jebel Ali) and Singapore thrive because they have industries, warehouses, and exports feeding them. Gwadar needs factories, refineries, and logistics hubs to generate cargo demand. He said ships will only dock at Gwadar if there's enough cargo and industries guarantee that. Negotiations with China to use this port for their supply chain will not only make this port fully operational but will also boost industrial development. Copyright Business Recorder, 2025
Arab News
07-03-2025
- Business
- Arab News
Pakistan PM congratulates China on annual political meetings, invites President Xi to visit
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday congratulated China on convening two major annual political meetings, where Beijing set an ambitious economic growth target and announced a substantial increase in defense spending amid a changing geopolitical environment, while also inviting Chinese President Xi Jinping to visit. China's 'Two Sessions,' comprising the National People's Congress and the Chinese People's Political Consultative Conference, began on March 4 and 5, respectively, shaping the country's policy direction for the year. The meetings upheld a GDP growth target of approximately 5 percent for 2025, as Beijing navigates global trade uncertainties following the return of Donald Trump's administration in Washington. China also announced a 7.2 percent increase in defense spending, underscoring its commitment to military modernization and national security amid rising regional and global tensions. 'I extend my warm congratulations to President Xi Jinping, Premier Li Qiang and the Chinese people on the successful convening of the 'Two Sessions' in Beijing,' Sharif said in a social media post on X. 'China is making remarkable progress in achieving its national development goals,' he continued. 'We are particularly impressed by China's modernization under President Xi's visionary leadership.' The prime minister reaffirmed that Pakistan and China would continue to work together to strengthen bilateral cooperation and achieve the 'shared objectives of peace and development.' Pakistan and China have long collaborated on infrastructure development and regional connectivity, with the China-Pakistan Economic Corridor (CPEC) serving as the flagship project of their strategic partnership. As both nations move toward the next phase of CPEC, their focus has shifted to business and industrial cooperation, aiming to boost investment, manufacturing and technology transfer. Bilateral cooperation, however, faces challenges, particularly security threats to Chinese personnel and projects in Pakistan. Attacks on CPEC-linked infrastructure and Chinese nationals by militant groups have raised concerns. Additionally, delays in project execution, financial constraints and bureaucratic hurdles have slowed some CPEC initiatives, requiring both countries to enhance policy coordination and implementation efficiency. The Prime Minister's Office also issued a statement on Friday, saying China's Ambassador Jiang Zaidong met Sharif earlier in the day. Among other things, they discussed 'progress on security and counter-terrorism cooperation between both countries.' The prime minister also noted this year marked the tenth anniversary of President Xi Jinping's visit to Pakistan in 2015, as he renewed his invitation for the Chinese leader to visit the country again.
