ISLAMABAD, October 18,2024: Federal Minister for Planning, Development, and Special Initiatives on Friday underscored the critical role of leveraging the country’s transport infrastructure to drive economic growth.
A high-level consultative session focused on transforming Pakistan’s transport corridors into economic corridors was held today, led by Professor Ahsan Iqbal, the Federal Minister for Planning, Development, and Special Initiatives.
Iqbal said that our vision is to harness the power of our transport networks to drive industrial growth, regional integration, and sustainable development. He called for these corridors to become economic lifelines that enhance trade, investment, and regional collaboration.
The session brought together senior officials from federal and provincial governments, urban planning experts, representatives from civil society, and the private sector. Together, they discussed strategies for creating business plans that would bring this vision to fruition.
He highlighted the need to integrate transport with industrial development, saying, He emphasized the importance of establishing industrial hubs to support sectors such as manufacturing, agriculture, and services.
He cited the China-Pakistan Economic Corridor (CPEC) as a successful model, illustrating how transport infrastructure can stimulate economic growth by connecting Pakistan to global markets.
A major theme of the session was the necessity for detailed business planning. Professor Iqbal noted. This includes conducting feasibility studies, identifying potential industrial hubs, and developing financial models to attract both domestic and international investment.
The minister also addressed opportunities in tourism and agri-processing. He highlighted the potential for increasing the value-added output of agricultural products and enhancing competitiveness in global markets.
Professor Iqbal further emphasized the importance of developing human capital, stating that infrastructure alone is not enough. He announced plans to establish vocational training centers and technical education programs along the corridors to equip local communities with the necessary skills to benefit from economic growth.
Concluding the session, he remarked on Pakistan’s strategic location, noting, “Our position at the crossroads of Central Asia, South Asia, and the Middle East makes us a vital player in regional trade and economic cooperation. Enhancing connectivity with neighboring countries like China, Afghanistan, and Iran will unlock immense economic potential.”
