Ahmed Khan Malik

Sindh industrialists have termed the holding of the Shanghai Cooperation Organisation (SCO) summit in Pakistan a great step towards economic integration of the country with other member states of the bloc.

They said that summit not only ended the perception of isolation of the country on the diplomatic front, but also brought opportunities for the country in the economic field through deeper links with other member countries.  “This conference not only holds immense significance on the diplomatic front but is also poised to significantly boost the country’s economy by attracting foreign investment,” Latif Soomro, industry leader in Nooriabad Industrial Area, said. He said the participation of over 10 international delegations, including key representatives from China, Russia, Kazakhstan, India, Uzbekistan, Kyrgyzstan and Tajikistan, honoured Pakistan on the global stage. He highlighted that the presence of Chinese Premier Li Qiang and Russian Prime Minister Mikhail Mishustin brought greater international attention to the conference.

He said Prime Minister Shehbaz Sharif’s strategic meetings with global leaders, coupled with agreements in trade, commerce, and energy sectors, would strengthen Pakistan’s economy and generate new employment opportunities. Soomro emphasised that multiple agreements have been signed, providing fresh opportunities for the country’s youth. “Moreover, the enhancement of the Belt and Road Initiative (BRI) energy projects between Pakistan and China will address Pakistan’s energy needs, fueling economic activity in the country.” He also commended the regional security discussions aimed at stabilising Afghanistan and reducing the threat of terrorism in Central Asia. These dialogues, he said, will contribute to long-term peace and stability in the region, further improving Pakistan’s security landscape. Soomro also hailed the government’s steps towards alleviating Pakistan’s economic challenges and restoring its international reputation.

He reiterated that the business community fully supported these initiatives and looked forward to a stable and prosperous future for Pakistan’s economy. Suleman Ghanchi, an industry leader from the Sukkur Industrial Zone, highlighted that summit participants emphasized the significance of advancing port, logistics, and railway infrastructure; fostering scientific and technological innovation; developing multi- and inter-modal transport systems; modernizing logistics centers; enhancing human resources and digitalization; ensuring safety, including environmental sustainability in railway transport; and promoting interconnectivity and efficient transport corridors. They also stressed the importance of supporting micro, small, and medium-sized enterprises to drive economic growth and create jobs.

He expressed hope that all the member states would wholeheartedly collaborate to address the shared challenges and work hand-in-hand for promoting cross-border infrastructure projects, expanding transport networks, and streamlining customs procedures to enhance connectivity. “The region’s vast energy resources, including the oil and gas reserves of Central Asia and Russia, present valuable opportunities for energy cooperation,” he said. He emphasized that now Pakistan must now focus on creating an integrated regional economic zone, which would not only boost trade but also strengthen people-to-people links, cultural exchanges and tourism among SCO member states. “Pakistan’s agricultural sector holds tremendous potential for collaboration with Central Asian countries, which have a growing demand for agricultural products and could benefit from Pakistan’s expertise in farming technology.”

Credit: INP-WealthPk