Hidden Potentials of Pakistan

Pakistan is strategically located in the crossroads of Asia with China as its neighbor in the north, India in the east, and Iran and Afghanistan in the west. Thus its strategic location allows Pakistan to become an important trade, energy and transport corridor. Most importantly, Pakistan is a gateway to energy rich States of Central Asia, the Gulf States and far Eastern countries. This unique feature of Pakistan’s strategic location along with its hidden potentials makes it a place of endless possibilities.

Pakistan’s tourism sector has enormous potential. It has some of the world’s highest mountains, lakes, and natural sceneries and is a popular destination for adventurers from inside and outside the country. Pakistan is a developing nation where tourism has recently been pushed to promote economic growth and improve the quality of life for its citizens. Pakistan is now seeing the fastest growth rates in tourist arrivals globally, and it is stated that tourism should be considered a vital part of Pakistan’s growth strategy. However, even though Pakistan’s tourism sector seems to be on the rise, the country’s overall economic and social progress has not been as fruitful as it may be.

As per the government estimates, the development of the tourism industry in Pakistan may contribute to the national economy may reach as much as Rs. 1 Trillion by 2025. In this regard countries like Sri Lanka, Maldives, Thailand, and others may be looked up as sustainable models for tourism development. Over the past many years, the law and order situation in the country has significantly improved. The terrorism activities in the country are down by over 90%, which has already resulted in a 300% growth in domestic and international tourists visiting various parts of the country; especially the spectacular North. The untamed natural landscapes spread wide across the country are especially attractive for foreign tourists, who in recent years have shown great zeal to visit these exotic places.

From the majestic valleys of Hunza, Nagar, Nelaam, Kalash, the lush green forests of Swat, Kalam, Kumrat, the vast untouched coastal areas, mesmerizing deserts, the oldest civilizations remnants, and a rich cultural heritages all makes Pakistan as one of the top travel destinations in the world. Tourism which contributes to various economic sectors of the country including; Hoteling and accommodation, Food & Beverage, Railway Transport, Road Transport, Air Travel, Water Transport, Travel & Tour Agencies, Sports & Recreational Activities, Cultural Events & Activities, Country specific Tourism Activities, Transport Equipment Rental, and Others.

Pakistan has failed to realize even one-fifth of the China-Pakistan Economic Corridor (CPEC) potential and the country’s biggest failure is its inability to increase exports, which is required to finance debt and investment related obligations, the event was arranged to look back at first 10 years of CPEC.

“We failed to realize even one-fifth of the potential offered by the Belt and Road Initiative (BRI). He went on to say that what was in the pipeline in the shape of incomplete projects had been there since 2013. Under the BRI banner, over 3,000 projects worth $1.2 trillion have been signed by China with various countries. Out of this amount, $800 billion worth of projects have been put into action and Pakistan got only $25 billion in investment. So far, $25 billion has been invested under CPEC in over 20 projects and 68% of the investment was in the power sector.

China had committed $62 billion in investment that could not materialize because of Pakistan’s own follies. China gave Pakistan a solution that the country needed to increase its exports by an additional $20 billion to $25 billion. “Our biggest failure was that we could not increase exports by putting together Special Economic Zones” under CPEC. Pakistan and China had agreed to set up five SEZs but none is still functional.

The brave blue world is an insightful documentary that portrays a realistic picture of how mankind is embracing innovative technological procedures, to reassess the management of water resources. There are 7.837 billion people living on Earth, 1.1 billion of whom on a global scale, lack access to clean water and a total of 2.7 billion find water scarce. The value added by oceans to the global economy is estimated by the OECD to be $1.5 trillion yearly, with a potential increase to $3 trillion by 2030.

One of the most significant international marine routes links Europe and the Far East through the Indian Ocean. Nearly 40% of the world’s energy is thought to be transferred via its waterways from the Persian Gulf to Europe and Asia. Blue Economy is an appendage of the green economy. The green economy particularly focused on the sectors like energy, transport, agriculture, and forestry.

With its ports in Karachi, Qasim, and Gwadar, Pakistan, a prominent coastal state in the middle of the Indian Ocean, conducts more than 95% of its trade by sea. In addition, Pakistan makes the most of its 290 000 sq. km Exclusive Economic Zone and Continental Shelf for a variety of activities such as fishing, mining, exploration, and marine research. Every day, almost 15 million barrels of crude oil are transported from the Gulf States to Pakistan via the Persian Gulf. In addition, Pakistan provides the quickest maritime access to China, Afghanistan, and the Central Asian States. Marine ecosystems promote up to 11.5 billion USD to global tourism. Over and above that, it serves to preserve our coasts from natural disasters like storms and floods, bestowing habitat for biodiversity.

With regard to the global economy, approximately 90 percent of all traded goods are shipped by sea, internationally. Furthermore, the market value of marine and coastal resources and industries is estimated at US$3 trillion per year. Hence, biodiversity-based tourism opportunities can be developed to explore an eco-tourism in the coastal belt of Pakistan.

Pakistan has many untapped mineral resources but cannot make use of them. Pakistan has huge gas and oil reserves but cannot do away with gas and oil shortages. The current crisis shows a gloomy picture of poor or inefficient management. There are numerous causes of poor management. These include corruption, lack of technical expertise and political will, and interprovincial conflicts.

There is a dire need to revisit the policies made by our previous leaders and there should be an across-the-board accountability in the country. Other natural resources include an extensive natural gas supply, some oil, hydro power potential, coal (although not high quality), iron ore, copper, salt, and limestone. Agricultural products are wheat, cotton, rice, sugarcane, eggs, fruit, vegetables, milk, beef, and mutton. Primary industry includes textiles, food processing, pharmaceuticals, construction materials, shrimp, fertilizer, and paper products.

Major exports are textiles, rice, leather goods, sports goods, carpets, rugs, and chemicals. Pakistan imports petroleum, machinery, plastic, edible oil, iron, steel, tea, and paper. Now the government of Pakistan has invited foreign investors to play their due role in exploring the hidden reserves of Pakistan and to fully utilize this potential as the country is blessed with rich mineral resources. There are vast mining opportunities in Pakistan which will be realized through joint efforts. Pakistan has been one of the countries known as homes to archeological sites around the globe.

The remains of civilizations and their living patterns depict the image back to thousands years ago. To see these words in a face of reality, hit a ride with us for an archaeological journey. Archaeological Ruins at Mohenjo-Daro, Harappa, Buddhist Ruins of Takht-i-Bahi & Neighboring City Remains at Sahr-i-Bahlol, Taxila, Rohtas Fort, Monuments of Makli Thatta, Fort and Shalimar Garden, Lahore, Kot Diji Fort, Mehrgarh, Baltit Fort

Any study of human development is incomplete without considering demographic transition; a
phenomenon likely to have a profound impact on Pakistan’s future, given its young population. Currently, 64 percent of the nation is younger than 30 and 29 percent of Pakistanis are between 15 and 29 (an age group which we define as the youth). Pakistan now has more young people than it has ever had, and this is forecasted to continue to increase until at least 2050. Because the youth have the power to transform a country’s future. They could be the engines of development. Or their disillusionment could lead to social unrest. Pakistan’s National Human Development Report 2017 studies the hopes, dreams, aspirations and fears of young Pakistanis to gather insights for transforming the “youth bulge” into a demographic dividend. It analyzes young people’s voices by consulting more than 130,000 people across Pakistan, of which 90 percent were youth, including marginalized and underprivileged young communities. Pakistan has always proved to be the home of most resilient nation awaiting its overdue rise. It has all the requisites of being a major economic player in the region and Asia. Its economic potential is immense. According to a recent World Bank Report, with sound economic policies, Pakistan economy could reach US$ 2 trillion by 2047. Government is well aware of the challenges Pakistan is currently confronting with and hence adopted comprehensive set of economic and structural reforms to lay the foundation of sustainable development and transforms Pakistan into an equitable land of endless opportunities.