Pakistan the eight fast growing economies of the world

ISLAMABAD: Pakistan is among the eight fast growing economies of the world due to structural reforms introduced by the incumbent government, federal Minister for Planning, Development and Reforms Ahsan Iqbal said on Thursday.

Addressing the China-Pakistan Economic Corridor (CPEC) Investm­ent Conference in Beijing, he said that Pakistani nation was united on the agenda of economic development and there was no threat of political instability in the country.

He termed the CPEC a historic opportunity and said it would cast a far-reaching impact on Pakistan’s economy. It offers equal opportunities of economic uplift to all provinces and regions of the country.

Under the CPEC, energy sector had been prioritised in the first phase, Mr Iqbal said, adding that the economic corridor would help build modern transport infrastructure in the country and make Pakistani economy competitive in the international market.

The minister said that Pakistan offered attractive opportunities to Chinese investors in minerals, agriculture, infrastructure, technology and industrial sectors.

Chinese technology and experiences in industrial sector coupled with Pakistan’s location and low cost of production could revolutionise the industrial sector of the country.

After $46 billion CPEC investment, he said, China topped the countries which had invested in Pakistani in two years. He said that mineral-rich provinces of Khyber Pakhtunkhwa and Balochistan were attractive destinations for Chinese investors.

Meanwhile, Mr Iqbal and Balochistan Chief Minister Sanaullah Khan Zehri witnessed the signing of an MoU of collaboration between the Pak-China Investment Company, Frontier Works Organisa­tion and China Interna­tional Contractors Associ­ation during a seminar. The seminar was attended by around 200 representatives of top Chinese and Pakistani companies.

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