(Karachi P.R. 26th Sep, 2016) Shaikh Khalid Tawab, Acting President Federation of Pakistan Chambers of Commerce and Industry appreciated the Prime Minister for taking significant interest in the implementation and completion of China Pakistan Economic Corridor (CPEC) project well in time and its constant monitoring. He stated there is no doubt that this is a mega project which will benefit the whole region of Asia and bring prosperity and development in the region. He indicated that this project will revive the historical trade route (silk route) and provide transit to the landlocked Central Asian countries from Pakistan in term of short route and low cost of trade.
He underscored that CPEC is the strongest pillar of economic, commercial and cultural connectivity between Pakistan and China and its regional impact will be very positive and adding that the network of roads, railways and industrial parks will herald a new era of development and prosperity to benefit all the provinces of Pakistan. Despite some provincial reservations, the corridor has the potential to add a lot to the economy of Pakistan if it is properly materialized, wisely managed and geopolitically realized, he added. Local products and producers should be protected against the inflow of raw material that would be allowed to Chinese investors at duty free rate otherwise promotion of new industries will flourish at the cost of established local goods and producers, he suggested.
He further added that many of the energy related projects (coal and wind) are included in the CPEC project. He also urged the Government to early development of Thar Coal project which can change the life of impoverish peoples of Thar and will generate economic activity which improves socio-economic indicators of Thar area. He also urged the government to take significant measures with the development of Thar Coal for reducing the impact of carbon emission as Pakistan is already affected with the global warming and climate changes. While quoting the statistics, he told that in world, 40.6% of world’s electricity is being generated from coal, which is the single largest contributor to world electricity generation. Most of the developed nations use coal to produce electricity, in which Poland, South Africa, China, Australia, India, Czech Republic are significant who produce more than 70 percent of their electricity through Coal. Unfortunately, there is an insignificant use of coal in Pakistan in production of electricity and Pakistan generates only 0.1 percent of its electricity through coal despite reserves of more than 200 billion tons, he added. He added that the utilization of coal for power generation will bring the electricity prices lower by replacing expensive oil and reduction in average cost and will play a dominant role in the energy mix of Pakistan reaching up to 30% by 2030.
Maher Alam Khan
Acting Secretary General