Frontline state counts on building peace, prosperity
With elections looming, the people of Pakistan are determined to triumph over adversity and continue with successful economic reforms
As the war against terrorism unfolds, the world has seen Pakistan suffer heavily. It would therefore surprise many outside the country to learn how upbeat about the future the nation's leaders and people are.
On this, the 60th anniversary of Pakistan independence, the nation remains steadfast in its commitment to defeating terrorism in all its forms. Alongside this there is a growing confidence among the people of Pakistan in the values of democracy and the opportunity to create a more prosperous future.
With general elections due, Pakistan is looking forward to further strengthening its democratic traditions.
'We are a country where foreign investors want to invest - at no other time was Pakistan's future as bright as it is today,' Omar Ayub Khan, Minister of State for Finance, said in his recent budget speech to Parliament. 'Today we can give our new generation the promise of a better future.'
As a frontline state in the war against terrorism, Pakistan occupies an important position in the international community. 'Its role in fighting terrorism has been acknowledged by all peace-loving nations of the world,' a government spokesman said.
'With the concept of enlightened moderation sunk deep into the society, Pakistan is set to present, before the world, a balanced and progressive model of Islam.'
Mr Khan added that ending poverty in Pakistan was one of the government's stated aims and that the incidence of poverty rates were reduced from 34.4 per cent in 2001 to 23.9 per cent in 2005. The minister said 12.7 million people were able to escape the poverty trap as a result of government measures.
Economic growth accelerated to 7 per cent in 2006-07 on the back of robust growth in agriculture, manufacturing and services. 'Pakistan's growth performance over the past five years has been striking,' the report stated. 'Average real GDP growth during 2003-07 was the best performance in many decades, and it now seems that Pakistan has decisively broken out of the low-growth rut that it was in for more than one decade.'
Mr Khan said reserves now stood at US$14.5 billion compared to US$200 million previously.
'Today we are not a nation with a begging bowl in our hands, but a strong and proud nation that helps others also.' Mr Khan also pointed to the special economic zone which is being set up near Lahore exclusively for Chinese companies to invest in.
Hong Kong ranks as the sixth-biggest export market for Pakistan with trade volume steadily growing. Trade between Pakistan and Hong Kong rose to US$8.4 million in 2006-2007 and Pakistan officials say this will increase fourfold in the next three years.
A large number of firms owned by Pakistanis and based in Hong Kong carry out their manufacturing operations in southern China. All this represents the newest phase in links between Hong Kong and Pakistan that stretch back to the 1840s when the first Pakistanis settled here. Today a 25,000-strong community is represented in every walk of Hong Kong life, from business and academia to banking and public service. Cultural links are growing with more agreements on academic and student exchanges being signed.
China and Pakistan have successfully completed a huge construction and development project for Gwadar deep-sea port which has great potential as a hub for trade between South Asia, Central Asia and the Middle East. Neighbouring provinces in China are closer to Gwadar than their own eastern or southern ports.
'Given Pakistan's fast growing economy and Hong Kong's continued importance as a trading hub, we believe the future holds a lot of promise for the economic interaction between Hong Kong and Pakistan.'
