Restoration of peace and security brings Pakistan economy back on track: President

Updated 23 March 2018
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Restoration of peace and security brings Pakistan economy back on track: President

March 23 is a day that signifies a major milestone in our great national history.
On this auspicious occasion, I extend my heart-felt felicitations to the whole nation.
It is on this day, that our elders approved the historic Lahore Resolution, which united the Muslims of the subcontinent on one clear and far greater objective.
On this occasion, we extend our deepest respect and admiration to the Father of the Nation, Quaid-e-Azam Mohammed Ali Jinnah and the Spiritual Icon of Pakistan, Dr. Allama Mohammed Iqbal and the rest of the freedom movement’s leadership, whose strong resolve and unmatched sacrifices, paved the way for the heroic accomplishment of Pakistan.
This day reminds us that Pakistan came into being as a result of a long, democratic struggle.
It also reminds us that the treasure behind the country’s progress and stability is hidden deep in the values of democracy. It is thus imperative that democratic traditions should be fostered so that tolerance, harmony and patience is nurtured in society, as confronting present-day challenges will be a daunting task in its absence.
Terrorism and the war-like situation that took place in the past few decades, has badly affected the whole region, including Pakistan.
I am happy to note that the whole nation stood together in one spirit and faced this challenge, and as a result, peace and security has revived and the country’s economy is back again on the trajectory to progress. The Pakistan-China Economic Corridor and the numerous developmental projects are glaring evidence in this regard.
Let us today renew the pledge once again, that by following the footsteps of our forefathers, we will work together to make Pakistan a great country in the comity of nations.
I pray that may Allah Al Mighty bless us with the spirit of serving Pakistan with utmost sincerity and entrench Pakistan on the path of progress and prosperity.


China positions itself as force for global stability at its annual Congress

Updated 3 sec ago
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China positions itself as force for global stability at its annual Congress

BEIJING: While much of the world’s attention is on the Iran war, that hasn’t stopped China from moving ahead with national priorities with global repercussions.
Not that China doesn’t care about the war and its impact on energy supplies and geopolitics. But for the world’s second largest economy, its growing rivalry with the United States revolves around a different battle: the development of the cutting-edge technologies shaping the 21st century.
That message came through in a five-year plan formally endorsed Thursday by the National People’s Congress at the end of its annual meeting, the nation’s biggest political event of the year. If anything, China is doubling down on a push to transform its economy and be at the forefront of technology. State media described China’s determination to stay the course on economic development as a force for stability in an uncertain world.
“A stable and developing China injects more stability and certainty into a world fraught with change and turbulence,” the official People’s Daily newspaper said in a front-page column on Wednesday. Other state-media echoed that view.
The commentaries and official statements didn’t mention US President Donald Trump, whose tariffs and use of military force from Venezuela to Iran are shaking up the global order that has governed international relations in the post-World War II era. China publicly defends that system, while calling for making it more equitable to reflect the interests of developing countries as well as rich ones.
Trump is due to visit Beijing in three weeks to hold talks with his counterpart, Chinese leader Xi Jinping.
The National People’s Congress also rubber-stamped three laws, including one governing ethnic minorities, at its closing session. The votes are ceremonial and nearly unanimous, designed to show unity behind the ruling Communist Party’s vision for the nation. The five-year plan was approved with 2,758 votes in favor, one against, and two abstentions.
“We are forging ahead at full speed in building a great country,” Foreign Minister Wang Yi said at an annual news conference during the Congress.
Banking on tech for growth
Many economists believe that China needs to do more to put more money into the hands of consumers to boost domestic spending and reduce its dependence on export-led growth.
China’s leaders agree in concept, but the five-year plan puts technology front and center, confirming it remains the top priority. Analysts expect any steps to boost consumption to happen only gradually, such as expanding social security and health care benefits, while government funds are poured into artificial intelligence, robotics and other areas.
Chinese Premier Li Qiang announced an economic growth target of 4.5 percent to 5 percent for 2026 at the start of the Congress, a level that gives the government more leeway to focus on the longer-term goals of the five-year plan rather than meeting a higher target this year.
Staying conservative on climate
The five-year plan doesn’t pledge to reduce carbon emissions overall, but only to reduce “emissions intensity” — how much pollutants are emitted relative to the size of the economy. That means emissions could still grow as the economy does.
The target for a reduction in intensity was set at 17 percent, a level that could allow emissions to rise 3 percent or more, analysts said. “International good practice is to move away from intensity targets toward absolute emission reduction targets,” said Niklas Hohne of the NewClimate Institute in Germany.
China has a history of setting conservative targets and its rapid expansion in solar and other clean energies may drive emissions down anyway. The country is the world’s No. 1 emitter of greenhouse gases, but leaders have long argued that the size of its population and economy must be considered when evaluating its pollution levels.
Regulating ethnic groups
A sweeping ethnic minorities law endorsed by the Congress solidifies what critics say is a government policy of assimilation, emphasizing the creation of “a common consciousness of the Chinese nation.”
The government said it is meant to foster a stronger sense of community and shared economic development among its ethnic groups. The law encapsulates an approach under Xi that has promoted unity over ethnic cultures and their languages.
“It puts a death nail in the party’s original promise of meaningful autonomy,” said James Leibold, a professor at Australia’s LaTrobe University who has studied China’s changing policies toward its ethnic minorities.
Seeking a “right to rest” for workers
Formal proposals and other suggestions to reduce work hours in a variety of ways were among those that got the most attention on social media during this year’s Congress.
Many focused on a “right to rest,” including calls to give employees the right not to respond to work messages after hours. Many Chinese workers get only five days of paid vacation a year. Yu Miaojie, an economist and deputy to the Congress, proposed raising the minimum statutory annual leave from five to 10 days.
The popularity of the proposals reflects concern about the intense workplace competition in China. Giving workers more leisure time is also seen as a way to boost consumption by giving them more free time to spend.