China-Pakistan Economic Corridor Is a Game Changer: Nawaz Sharif

China-Pakistan Economic Corridor
China-Pakistan Economic Corridor

The China-Pakistan Economic Corridor (CPEC) is a game changer that is going to transform the lives of the billions of people of the region, said Pakistan Prime Minister (PM) Muhammad Nawaz Sharif.

He expressed this view at a meeting with a consortium of Chinese investment companies that called on Nawaz Sharif at PM House on Friday.

CPEC is a series of ongoing projects that China is executing in Pakistan at a cost of USD $51 billion. These projects are supposed to upgrade Pakistani infrastructure, signifying strong economic ties between Pakistan and China.

Nawaz Sharif appreciated the Chinese delegation’s useful interaction with Pakistan’s Ministries of Finance, Petroleum & Natural Resources, Secretary Water & Power and Capital Development Authority.

He expressed hope that members of the Chinese delegation will have a productive visit in the backdrop of briefing by various Ministries about immense potential for investment in Pakistan’s infrastructure development, energy and communication sectors.

Nawaz Sharif also said that the economic outlook of Pakistan has altogether changed in the past three years, which is being acknowledged globally.

According to him, the rating agency Standard & Poor’s (S&P) has upgraded Pakistan’s ranking to B from B- and Pakistan is among this year’s global top 10 improvers in World Bank’s ‘Doing Business 2017’ report.

“Our investment policy has been designed to provide a comprehensive framework for creating a conducive business environment for the attraction of foreign direct investment (FDI),” Pakistan PM said.

The Chinese delegation informed the Pakistan PM that they are bringing US $3 billion Investment Fund to Pakistan because of the vision of the Prime Minister that focuses on infrastructure development and energy sectors.

The Chinese investors also said that they are actively pursuing their investments in infrastructure, power, aviation and tourism sectors of Pakistan.

Photo courtesy: Pakistan PM Office

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Rakesh Raman