According to newspaper reports, the Asian Development Bank is awaiting a formal request from the federal government to invest in the development projects in Gwadar as work on the construction of a free industrial zone has already started in the city. The ADB and various other financial institutions are keen to invest in the China-Pakistan Economic Corridor (CPEC) and the proposed industrial zones in the country. As a matter of fact, Gwadar is the future of Pakistan’s economy which will not only create jobs but will also dawn in an era of industrial development in the country. Various investors from China, Middle East and European countries are ready to invest in 300 factories which are proposed to be set up in Gwadar to manufacture different products. However, it seems the government is unprepared to take urgent steps which are required to keep up pace with the fast changing economic environment.
According to an ADB official, the bank is ready to investment not only in economic corridor and special economic zones, but also in various other projects which are jointly launched by Pakistan and China. The bank has already cooperated in various sectors of Pakistan and has lent $27 billion loans over a period of 50 years. Both Pakistan and China want the Gwadar port to be operational by 2017 and investment of the world financial institutions in the projects will speed up the process of development. The new city of Gwadar needs transportation, water supply and road and rail links with other parts of the country. A Chinese firm is engaged in construction of roads, water supply, electricity, gas and other facilities in the free industrial zone at a cost of $2 billion. The industrial zone will spread over an area of 10 square kilometer. The western route of the CPEC will be completed by 2018.
The country is facing political unrest, border tension with Afghanistan and strained relations with various friendly countries, including the United States. The country has been left on the mercy of the official machinery which cannot do anything on its own without any advice from the chief executive of the government. The officials need clear cut instructions from the government. Despite all odds, the country’s economy is expanding and the government must understand the situation and take steps to save the interests of the country whether those are related to economy or politics. Pakistan has achieved macroeconomic stability despite challenges and the government must consult the world financial institutions and private investors to avail opportunities in Gwadar