Islamabad: — A high-level delegation of Chinese experts attended an event organized by the Pakistan Institute of Development Economics (PIDE), which is a major step towards strengthening China-Pakistan economic cooperation. The event titled “Pakistan’s Economy and Growth: Learning from the Chinese Experience” aimed to facilitate the exchange of knowledge and best practices between the two nations.
For VC Dr. Durre Nayab of PIDE emphasized the importance of such interactions in promoting growth and development. She emphasized the need to adopt strategies that propelled China to economic success, tailored to Pakistan’s unique context.
The event included a detailed presentation by Dr. Nadeem ul Haque, PIDE Vice-Chancellor, who discussed the critical need for policy reforms, investment in human capital and promotion of an innovation-based economy. Dr. Haque noted that the objective of the event was to explore the lessons Pakistan can learn from China’s economic transformation, which provides insights into growth strategies, infrastructure development, industrialization and political reforms applicable to Pakistan.
Dr. Haque emphasized that Pakistan is poised for a new era of economic growth and regional connectivity through the dynamic framework of the China-Pakistan Economic Corridor (CPEC). He emphasized that with a young, growing population and a rapidly developing middle class, Pakistan presents a compelling case for significant investment and development.
Pakistan’s demographic profile, with a median age of just 20.6 years and a labor force expanding by more than 3 million annually, is the cornerstone of its growth potential. Dr. Haque noted that a projected growth rate of 7-8% per annum is within reach with strategic reforms, positioning Pakistan as a future market leader. By 2030, Pakistan is expected to become the 7th largest consumer market in the world, underscoring its huge potential.
Dr. Nadeem further said that CPEC is not just an infrastructure project but a framework for regional connectivity. It aims to strengthen geographical ties through people-to-people contacts, academic and cultural exchanges and strong trade and business flows. The initiative promises to transform Pakistan into a logistics hub that will lead to industrial, agricultural and financial cooperation along with human resource development and tourism.
He pointed out that Pakistan is undergoing significant reforms to create a more investment-friendly environment. Moving from a permit-based economy to a rules-based economy, the government is addressing regulatory issues that have historically held back growth. The implementation of Regulatory Impact Assessments (RIAs) and the reduction of redundant permits are essential steps towards this transformation.
Dr. Haque noted that apart from infrastructure, CPEC opens up various opportunities for investment. Leading global corporations such as Pepsi-Cola, Coca-Cola, General Electric and Procter & Gamble have already established a strong presence in Pakistan, where they have collectively invested over $1.5 billion and generated revenues of $3 billion. The Special Economic Zones (SEZs) under CPEC offer further investment prospects, particularly in the technology and manufacturing sectors.
He highlighted that Pakistan’s emerging electric vehicle (EV) market represents a significant area of growth. With more than 50% of households owning motorcycles and the growing demand for cars, the market for 2- and 4-wheeled EVs will expand rapidly. Initiatives to promote EVs and public transport in Islamabad are already underway, strategically positioning Pakistan as a hub for EV production for both local and export markets.
By learning from China, Pakistan can develop strategies to overcome economic challenges and achieve sustainable growth. The seminar at PIDE provided a platform to discuss these lessons and adapt them to the Pakistani context, paving the way for a prosperous future.
The leading expert of the Chinese delegation provided invaluable insights into the Chinese economic model and highlighted lessons that Pakistan can use for its own growth. He described China’s strategic investments in infrastructure, technology and education and showed how similar initiatives could bring significant benefits to Pakistan. The expert emphasized that China’s economic rise from a developing country to the world’s second-largest economy offers crucial lessons in various fields, including economic policy, infrastructure development, industrialization, education, innovation and governance. By strategically investing in these sectors, Pakistan can replicate China’s success and drive its own economic growth.
In this context, a Chinese delegation comprising experts from various fields such as economy, industry, agriculture, technology, health, education, environmental science, urban planning and others will visit Pakistan. These experts bring a wealth of knowledge and experience from their respective fields to foster deeper collaboration and mutual growth. Their insights and recommendations are expected to play a key role in shaping the next phase of Pakistan’s development under CPEC.
Leading Chinese experts have praised the Pakistan Institute of Development Economics (PIDE) for its outstanding efforts in identifying and addressing critical issues facing Pakistan. Through rigorous empirical research and the involvement of top specialists, PIDE explores innovative solutions to these problems. This esteemed national think tank is undeniably instrumental in charting the course for Pakistan’s success and prosperity.
Effective governance and institutional reforms, including streamlining the bureaucracy and anti-corruption measures, have been essential to China’s development. Pakistan can adopt these reforms to improve governance, strengthen institutions and increase transparency. Emulating Chinese policies, infrastructure investment, SEZs, human capital development, technological innovation, export promotion and governance reforms can pave the way for Pakistan’s prosperity.
The seminar was attended by representatives of all leading think tanks from all provinces of Pakistan and highlighted the importance of skill development, industrial linkages and technology transfer between China and Pakistan. In fact, this is a great initiative by PIDE to create a mind-bending link with China. We need more research collaboration and sharing of ideas. China has a lot to teach us about policies and reforms. CPEC-II should include a component for shared and collaborative research.
During the event, the Chinese delegation engaged in meaningful discussions with representatives of Pakistani academia and think tanks. Discussions covered a wide range of topics, including economic policy, industrial development and sustainable development
