Janbaz
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ISLAMABAD (March 19 2007): The Planning Commission has given final shape to the 'Vision 2030' for final approval by National Economic Council (NEC). It foresees Pakistan as a regional hub for industry, trade and education in the next two decades.
Planning Commission Deputy Chairman Dr Akram Shaikh presided over the 6 hours long meeting which gave the final shape to the 'Vision' for the NEC meeting. Earlier the NEC was scheduled to meet on March 22, but it was deferred on Saturday and now it is likely to meet on March 27. Prime Minister Shaukat Aziz would preside.
The working draft of the 'Vision' says that by 2030 Pakistan will be the world's fifth most populous country (around 230 million people), with an economy whose absolute size will be among top two dozen countries, on the basis of only a 6 percent sustained growth, and around 12th on purchasing power parity (PPP). Its people in under-25 age group will have an average of 10 years of education, while tertiary enrolments will be nearly 20 percent of the 17-23 age cohort. It will also be a major regional hub for industry, education, services and arts.
The 'Vision' gives importance to the globally integrated economy, saying that "it appears that the most predictable state of affairs in 2030 will be that of a globally integrated economy". The industrial economy will be transformed inexorably into yet undefined morphologies on the shoulders of the information revolution.
It adds that economies are likely to diffuse across national boundaries into truly global supply chains, whether industrial, services or ownership. This dispersal of work and strategic linkages across national boundaries, coupled with information integration, and a shift in the technological content of world trade towards high technology, will be the most conspicuous feature of globalised economy in the future.
According to the 'Vision', the most abrupt transformation will occur in Asia, which is expected to be the engine of global growth and consumption. This will see a continuation of relocation of manufacturing and an increasing share of design and services from the developed countries. If some emerging economies in Asia can sustain their growth for several decades, then three of the four largest global economies will probably be Asian in 2030 and 2050. Pakistan's economy, currently ranking 39th in size (24th on PPP), could similarly rise to 23rd (12th on PPP) with a sustained growth of 6 percent, it adds.
The 'Vision' maintains that opening of markets in the wake of trade liberalisation would imply fierce competition in both domestic and external markets. The role of the multinationals and regional supply chains will also have expanded, not only in industry but also in agriculture and services.
Attracting and retaining relocation activities and investments, and developing into regional or global hubs, would be the major goals of companies and national policies. In some newly industrialised Asian countries, such activities have already generated major global players and conglomerates. They now offer complete end-to-end services in the supply chain, whether as manufacturers of piece parts and systems, or providers of manufacturing related services.
It has noted that Pakistan needs to put in place the infrastructure and matching of skills with demand, within the country as well as those of transnational agents.
It says that emerging electronically networked world economy is creating a new economic landscape that highlights a shift from geographical industrial cluster to virtual cluster, driven by digital innovation. These clusters are emerging in the new competitive space offered by a Web-based business world, where 'how you do business' is more relevant than 'where you do business'. This requires Pakistan to operate the next generation communication networks, which combine convergence with speed, stability, security, and flexibility. In this regard, globally powerful cities will be competing with nation states, it foresees.
Business Recorder.
http://www.brecorder.com/index.php?id=539933&currPageNo=1&query=&search=&term=&supDate=
Planning Commission Deputy Chairman Dr Akram Shaikh presided over the 6 hours long meeting which gave the final shape to the 'Vision' for the NEC meeting. Earlier the NEC was scheduled to meet on March 22, but it was deferred on Saturday and now it is likely to meet on March 27. Prime Minister Shaukat Aziz would preside.
The working draft of the 'Vision' says that by 2030 Pakistan will be the world's fifth most populous country (around 230 million people), with an economy whose absolute size will be among top two dozen countries, on the basis of only a 6 percent sustained growth, and around 12th on purchasing power parity (PPP). Its people in under-25 age group will have an average of 10 years of education, while tertiary enrolments will be nearly 20 percent of the 17-23 age cohort. It will also be a major regional hub for industry, education, services and arts.
The 'Vision' gives importance to the globally integrated economy, saying that "it appears that the most predictable state of affairs in 2030 will be that of a globally integrated economy". The industrial economy will be transformed inexorably into yet undefined morphologies on the shoulders of the information revolution.
It adds that economies are likely to diffuse across national boundaries into truly global supply chains, whether industrial, services or ownership. This dispersal of work and strategic linkages across national boundaries, coupled with information integration, and a shift in the technological content of world trade towards high technology, will be the most conspicuous feature of globalised economy in the future.
According to the 'Vision', the most abrupt transformation will occur in Asia, which is expected to be the engine of global growth and consumption. This will see a continuation of relocation of manufacturing and an increasing share of design and services from the developed countries. If some emerging economies in Asia can sustain their growth for several decades, then three of the four largest global economies will probably be Asian in 2030 and 2050. Pakistan's economy, currently ranking 39th in size (24th on PPP), could similarly rise to 23rd (12th on PPP) with a sustained growth of 6 percent, it adds.
The 'Vision' maintains that opening of markets in the wake of trade liberalisation would imply fierce competition in both domestic and external markets. The role of the multinationals and regional supply chains will also have expanded, not only in industry but also in agriculture and services.
Attracting and retaining relocation activities and investments, and developing into regional or global hubs, would be the major goals of companies and national policies. In some newly industrialised Asian countries, such activities have already generated major global players and conglomerates. They now offer complete end-to-end services in the supply chain, whether as manufacturers of piece parts and systems, or providers of manufacturing related services.
It has noted that Pakistan needs to put in place the infrastructure and matching of skills with demand, within the country as well as those of transnational agents.
It says that emerging electronically networked world economy is creating a new economic landscape that highlights a shift from geographical industrial cluster to virtual cluster, driven by digital innovation. These clusters are emerging in the new competitive space offered by a Web-based business world, where 'how you do business' is more relevant than 'where you do business'. This requires Pakistan to operate the next generation communication networks, which combine convergence with speed, stability, security, and flexibility. In this regard, globally powerful cities will be competing with nation states, it foresees.
Business Recorder.
http://www.brecorder.com/index.php?id=539933&currPageNo=1&query=&search=&term=&supDate=
