Economic crises in Pakistan can sometimes be a good thing. It forces all of us to take, and accept hard decisions. Such a crisis can lead to transformation through a handful of policies, both short-term and long-term.
In the short term, we need to reduce prices instead of imposing daunting price controls. Price controls are being administered both directly and indirectly through the use of restrictions on imports and exports. We should discourage unwanted pressure to pay for customs duties to recover revenues. As the number of imported products is a huge requirement for our business, the removal of customs duties will give a boost to the buying power of the consumer which will result in a better Pakistan economy.
You can grow a country’s GDP by encouraging consumers to buy goods. Pakistan’s economy might not be stronger but with all the upcoming mega projects in Pakistan, the future looks brighter for our beloved country.
Currently, Pakistan’s GDP stands at 5.97% in the fiscal year 2021/2022. With promising Pakistan Projects, the crisis could be ending soon.
Promising Government Projects in Pakistan
Pakistan is a country that holds a lot of potentials to grow but unfortunately due to corruption in our country, we fail to make it stand where it deserves. We are too busy or concerned about the baseless case about teenagers running away from home to get married to the love of their life or so it seems.
For once there are some product developments taking place as the following Pakistan Projects are under construction.
Gwadar Airport- This is one of the many upcoming mega projects in Pakistan. Gwadar is one of the most promising cities in Pakistan. It has various projects in its pocket to flourish Pakistan’s Economy. Its new Greenfield airport which is operated by Pakistan Civil Aviation Authority (PCAA) is a jewel in the crown of our country. It is said to be completed by October 2023.
Initially, it was supposed to open by November 2022 but unfortunately, it faced delay due to the pandemic. Gwadar airport has put the port city on the fast track and promising progress in 2022. Witnessing new waves of development and new job opportunities showcases the great potential for Gwadar to grow.
Another promising development in Gwadar which will help to boost our country’s economy is a venture of Pak-China called the vocational training institute. It will provide technical training to the youth of the port city and nearby areas. This aims to make them skilled and trained to work in the industrial and trade sector of Gwadar. The design of the institute will accomplish all the needs of students in mind. The government will train to fulfill the requirement of the industrial sector. People of Balochistan will get a promising chance to get training and prepare for professional lives.
Last but not least the water treatment plant is another astounding advantage in the list of development projects in Gwadar. It will be the first city in Pakistan that will reprocess sewerage water for plants as the infamous port city is a derelict place.
Chinese scientists are working hard to produce new plants that can adapt to the harsh weather and survive. There are quite a few water resources including a few dams to store and gather rainwater. It seems like the right time to invest in the city as it would be a good chance of a healthy future. Its strong infrastructural foundation shows potential for the country’s bright future.
Mohmand Dam- Among all the Pakistan development projects this project holds the possibility to provide potable water to the natives of Peshawar. Mohmand Dam was earlier known as Munda Dam. It is located on the swat river and is currently under construction. The construction of the dam was inaugurated by Ex-Prime Minister Mr. Imran Khan.
The Islamic Development Bank (ISDB) has signed financing agreements for up to US $ 180 million for the development of the dam.
The List of Projects in Pakistan that Sounds too Good to be True
Sindh Resilience Projects- The main goal for this project is to focus on disaster management which includes risk reduction in development, budgeting, support restoration, and improvement of high-risk sites. It will also support the construction of rainwater dams and drought regions.
Karachi Neighborhood Improvement- The motive for this project is to create usability of community spaces to increase movement, and traffic safety and provide better city management.
The Polio Eradication Project- Along with Nigeria and Afghanistan, Pakistan is still battling cases of Polio in the country. With the increasing ratio of polio cases, the National Emergency Action Plan was announced in order to overcome the polio-Pandemic. Bill and Melinda Gates Foundation has agreed to provide $43 million in order to distribute polio vaccines and bring awareness around the country.
Ranolia Hydropower Project- Renewable Energy Development Sector had planned to invest $10 million in constructing of hydropower plant to fuel the Indus river which can generate more electricity to meet Pakistan nation’s needs.
Living on the Edge
For any country to develop well, its citizens need to be motivated and passionate about benefiting their country and playing a part in creating a better future. The “jo Hoga Dekha Jaye Ga” attitude won’t help in the progress of the country or make us successful in any aspect of our lives. Living on the edge seems good but only when you are young and don’t have to bear the responsibility of anyone. Once you grow up, you need to realize the reality that your hard work is not only required for your family but for your country as well.
Behind every country’s success is its youth who plan their future in a way that they can benefit their country with good resources, job opportunities, and business investments.
As mentioned earlier Pakistan has the capability to grow and have a golden future. To boost the economy further we need to make sure we create more job opportunities and platforms where people are attracted to invest their money and start promising businesses.
Businessmen can help to grow Pakistan’s GDP as they have money to invest and they can fund more Pakistan Development Projects like the ones mentioned above. A country cannot solely rely on some projects to flourish. It needs support from the industrial sector as well as from the consumer sector. We all play a part in making our country’s economy strong.
Let’s hope we can make our country’s future brighter in 2022.