Daily Times

Planning and Development Minister Ahsan Iqbal did not wait to land back home before declaring the ongoing visit of Prime Minister Shahbaz Sharif a milestone in the development of Pakistan-China relations.

Rightly so, as Islamabad must have weighed its options before deciding upon the timing of this crucial visit. That the premier has chosen to pay Pakistan’s longstanding ally a visit only days before his government is to present its annual budget hints at some closed-room talks to leverage a way out of the biggest chunk of its debt (almost 13 percent), which would ultimately determine the next phase of discussions to procure at least $6 billion from the IMF. Press releases about a string of MOUs and at-length talks with China’s President Xi Jinping have raised hopes, setting the stage for potential collaborations. But while the expansion of bilateral trade and Chinese resolve to build upon the CPEC may suggest there is immense potential for significant developments to occur as a result of this visit, it cannot be ignored that we’ve been down this road numerous times before.

Amidst the optimism, some challenges and concerns need to be addressed. It is essential for the government to ensure transparency, accountability, and inclusivity in all agreements to avoid any pitfalls or controversies in the future. The unfulfilled potential of Lahore’s Orange Metro whose ticket prices fail to reflect the operating costs should serve as a wake-up call for the authorities to do due diligence before seeking new investment. Additionally, Pakistan must prioritize the welfare of its citizens and safeguard national interests while pursuing closer ties with China.

No qualms about China’s growing influence in the region and beyond, but if Pakistan actually wishes to leverage its relationship with the world’s second-largest economy for mutual benefit, it would do well to think beyond short-term rollovers and work on a lasting development agenda. Although increased by 16 per cent in the last year, exports to China are still a work in progress. China may be open to a higher import volume but the trade balance would only improve if the Sharif-led government pays special attention to Pakistan’s productive capacity and value addition. *