ADB asks Pakistan to upgrade its transport system

LAHORE: Asian Development Bank (ADB) delegation head Peter Turner on Wednesday urged Pakistan to upgrade its transport system, as the inefficiencies in the performance of the transport sector cost the country four to six percent of the GDP annually.

A team of ADB, called on the Lahore Chamber of Commerce and Industry president Abdul Basit, and discussed a number of issues including the National Transportation Policy, Economic development of Pakistan, business climate in the country and China-Pakistan Economic Corridor (CPEC).

Peter Turner said the ADB has been assisting Pakistan to address these issues, but investment in transportation infrastructure must be backed by institutional improvement. On CPEC, he said it was an important project and would help connect Iran, Turkey, Central Asian states, and Afghanistan etc.

He said to get good results from the CPEC; good transportation system was a must for the movement of trading goods.

LCCI president Abdul Basit said the National Transport Policy would supplement the government’s efforts to improve the transport infrastructure which would help enhance local and regional trade. He said Pakistan signed the TIR Convention 1975 last year, which was scheduled to be implemented this year.

“It will facilitate international carriage of goods by road under the harmonised system of International Road Transport Union IRU/TIR,” he added.

“We are worried about low ranking in one of the factors of Ease of Doing Business ie called ‘Trading Across Borders’. As per World Bank Report 2017, Pakistan stands at 172 out of 192 countries,” he said, and added that on April 6, 2017, the government approved the cross-border trade reforms to be implemented in different phases which would help Pakistan improve its ranking.