CPEC to provide more opportunities for investment, employment: PM

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KARACHI: The China-Pakistan Economic Corridor (CPEC) with its wide portfolio of projects in energy, road networks, railways and many other sectors offered huge opportunities for investment and employment.

These views were expressed by Prime Minister Nawaz Sharif, on Tuesday, while addressing the business community at the Governor House in Karachi.

The meeting was also attended by the Sindh governor, chief minister and the Railways minister, Federal Minister for Planning Ahsan Iqbal, Board of Investment Chairman Mifta Ismail, parliamentarians and senior officials.

The PM said the government had put the country on the path of prosperity and development by adopting business-friendly policies and hard work.

When the PML-N government, he said, took office in 2013, the country faced many problems, including terrorism, economic decline and energy shortage. The government, however, took it as a challenge and worked tirelessly to overcome the problems.

The PM said law and order situation in Karachi had significantly improved and business activities returned to normal. He appreciated the role of law enforcement agencies in maintaining the law and order situation in the port city.

The prime minister said the economic progress of Pakistan had been acknowledged by international financial rating agencies.”Pakistan is now termed an attractive destination for business and investment,” he added.

As a result of investor friendly policies of the present government and the economic turnaround achieved in the last four years, various reputable international investors and companies had shown a keen interest in exploring business and investment opportunities in Pakistan, he added.

The prime minister said, the country had now achieved macroeconomic stability and was focusing on achieving higher sustainable and inclusive growth.

Gross domestic product was recorded at 4.7 per cent in the financial year 2016, which was eight years high, he remarked.

The government, he said, was also improving energy mix to ensure availability of clean and affordable energy to the masses.

While referring to investment policies, the prime minister said the country had improved its ranking by four points on the World Bank’s Ease of Doing Business (EODB) Index.

“We have identified potential sites along the CPEC routes for the establishment of Special Economic Zones that would offer tremendous business opportunities,” the prime minister added.

The government had introduced the new Automotive Development Policy that focused on enhancing competitiveness and provision of quality products, he concluded.