Pakistan is among the eight fast growing economies of the world due to structural reforms introduced by the present government, Federal Minister Planning, Development and Reforms Ahsan Iqbal said on Thursday.
While addressing China-Pakistan Economic Corridor (CPEC) Investment Conference, held in Chinese Capital Beijing, he said that Pakistani nation is united on agenda of economic development. He said that there is no threat of political instability in the country.
He noted that CPEC is a historic opportunity, which would have a far-reaching impact on national economy. He said that CPEC offers equal opportunities to all the provinces and regions of the country for their economic uplift.
Under CPEC, energy sector has been prioritised in the first phase whereas CPEC would help to lay modern transport infrastructure in the country to make Pakistan economy competitive in the international market.
The minister noted that Pakistan offers attractive opportunities to Chinese investors in minerals, agriculture, infrastructure, technology and industrial sector. Chinese technology and experiences in industrial sector coupled Pakistan’s location and its low cost of production can revolutionise the industrial sector of the country.
He pointed out that China topped the countries invested in Pakistani last two years following $46 billion CPEC investment.
He said mineral-rich provinces of KPK and Balochistan are attractive destination for Chinese investors in the country. Meanwhile, he said that China was now the number one Foreign Direct Investor (FDI) in Pakistan, just within two years of start of China-Pakistan Economic Corridor (CPEC). He was addressing the “Belt & Road” China-Pakistan Economic Corridor Investment and Construction Cooperation Forum in Beijing, China.
The minister also reaffirmed Pakistan government’s firm resolve and commitment to the CPEC during his address and said the prime minister is personally supervising implementation of CPEC projects. According to a message received here from China, Ahsan Iqbal said that Pakistan was emerging as the favourite investment destination with economic reforms undertaken by government.
Around 10,000MW electricity will be added by 2018 and additional 15,000MW by 2025, he said adding that the government was building new dams, including Diamer Bhasha Dam to overcome Food Security.
He said that Balochistan and Khyber Pakhtunkhwa (KP) were rich in minerals and economic zones were being developed to take advantage of minerals and industries in Pakistan. The minister said that modern transport infrastructure under CPEC would make Pakistan’s economy competitive.
Western and Eastern routes will link all regions with China. China’s technology and experience combined with location and low cost advantage of Pakistan will create world class production platform, the minister highlighted.
The Chief Minister of the Resource Rich Balochistan province Sanaullah Khan Zehri also attend the Seminar. The event has been organised by Pak-China Investment Company, Frontier Works Organisation (FWO) and China International Contractors Association and the Embassy of Pakistan in Beijing.
Madam Zhao Baige Vice Chair Person of Foreign Affairs Committee of National People’s Congress and Fang Qiuchen President China International Contractors Association also spoke on the occasion.
Chief Minister Balochistan Sanaullah Khan Zehri also witnessed signing of an MoU of collaboration between Pak-China Investment Company, Frontier Works Organisation (FWO) and China International Contractors Association during the seminar. The seminar was attended by around 200 participants of top Chinese and Pakistani companies.
Source: Business Recorder