Federal Minister for Planning Development and Reforms Ahsan Iqbal on Thursday said that within two years of the start of the China-Pakistan Economic Corridor (CPEC) project, China has become the number one foreign direct investor in Pakistan.
He was addressing the “Belt & Road” CPEC Investment & Construction Cooperation Forum in Beijing, China. The minister also reaffirmed Pakistan government’s firm resolve and commitment to CPEC during his address and said that Prime Minister Nawaz Sharif is personally supervising the implementation of the CPEC projects.
Ahsan Iqbal said that Pakistan is emerging as the favorite investment destination with the economic reforms which have been undertaken by the government. A 10,000 megawatt(MW) power plant will be added by 2018 while an additional 15,000 MW will be added by 2025, he said, adding that the government is building new dams, including Diamer-Bhasha Dam to overcome electricity and food shortage.
He said that Balochistan and Khyber Pakhtunkhwa (KP) are rich in minerals and economic zones are being developed to take advantage of minerals and industries in Pakistan. The planning minister said that modern transport infrastructure under CPEC will make Pakistan’s economy competitive. Western and Eastern routes will link all the regions with China. China’s technology and experience combined with the location and low cost advantage of Pakistan will create a world class production platform, the minister said.
He said that the government of Pakistan is committed to putting Pakistan among the top 15 economies by 2025. CPEC has taken Pak-China friendship to new heights.
Balochistan Chief Minister Sanaullah Khan Zehri also attended the seminar.
The event has been organised by Pak-China Investment Company, Frontier Works Organisation (FWO), China International Contractors Association and the Embassy of Pakistan in Beijing.
National People’s Congress Foreign Affairs Committee Vice Chairperson Madam Zhao Baige and China International Contractors Association President Fang Qiuchen also spoke on the occasion.
Planning Minister Ahsan Iqbal and Balochistan Chief Minister Sanaullah Khan Zehri also witnessed signing of an MoU of collaboration between Pak-China Investment Company, Frontier Works Organization (FWO) and China International Contractors Association during the seminar.
The seminar was attended by around 200 participants from top Chinese and Pakistani companies.