Explain how transportation and communication help in the economic development of a country
Answers
modern transport and communication facilities play an important role for integrated economic development. It plays a major role in the economic uplift of a country as it promotes internal and external trade, economic use of natural resources, mobility of skilled labour-force, diversification of markets, provision of fuel, reduction in employment, increase in agricultural and industrial production etc. Pakistan is taking benefits of its strategic location and has focused on to develop efficient and well integrated transport and communication system by connecting remote regions of the country into one road one Asia chain. With the help of China Pakistan Economic Corridor, roads and railways infrastructure will integrate Pakistan with the regional countries which will result in generating economic boom by integrating Pakistani markets with Central Asia, Middle East and other parts of the world. The Corridor will be a strategic game changer in the region and would go a long way in making Pakistan a richer and stronger entity. The investment on the corridor will transform Pakistan into a regional economic hub and it will be confidence booster for investors and attract investment not only from China but also from other parts of the world. Other than transportation infrastructure, the economic corridor will provide Pakistan with modern telecommunication and energy infrastructure, also.
Pakistan is blessed with a very unique geo-strategic location posing strength and challenges for its endurance. The opportunities and potential can be realized by exploring its critical connectivity of land routes, coastal lines and pass through air routes which are endowed by the favourable climate. The country offers the most effective, economical and viable transit routes throughout the seasons to the land locked Central Asian Countries and other neighbouring countries providing a very convenient trade corridor. World Bank estimates that poor performance of the transport sector is costing Pakistan about five percent of its GDP. Furthermore thirty percent of agriculture output is currently wasted due to its inefficient farm to market channels, lack of cold storage facilities and an obsolete underpowered trucking fleet. Government of Pakistan is committed to develop and enhance a modernize transport and logistics sector. Vision 2025 also seeks to establish an efficient and integrated transport system that will facilitate the development of our economy. The targets set forth are to ensure reduction in transport cost, safety, effective connectivity between rural areas and urban areas markets interprovincial high speed connectivity, integrated roads network and transportation corridor connectivity with major regional trade partner countries.