WASHINGTON: The Minister for Planning, Development & Reform Ahsan Iqbal has pointed out that the ultimate objective of China Pakistan Economic Corridor (CPEC) is peace, prosperity and well-being of the people of the region.
While speaking at the United States Institute of Peace (USIP) in Washington, the minister said that highlighted that the CPEC had emerged in the context of robust economic growth taking place in the larger Asian region as well as immense potential for growth and connectivity in South and Central Asia.
The minister said that CPEC was in sync with Pakistan’s Vision 2025 that seeks to position Pakistan from a lower middle income country to high middle income country.
Outlining the contours of the CPEC, Ahsan Iqbal said that bulk of the investment under CPEC was in the energy sector and infrastructure was the second most important sector of CPEC. These projects have stimulated overall economic growth in Pakistan and Pakistan’s steel, cement, and construction sectors were booming.
Ahsan Iqbal informed that as a result of robust investment in Energy sector, Pakistan is expected to add a phenomenal 10,000 MW to the national grid.
Responding to various questions, Ahsan Iqbal outlined Pakistan’s vision for a peaceful and prosperous neighborhood and a desire for inclusivity in development. He said that Pakistan’s economic turnaround had been registered positively by credit rating agencies and had already begun to invite significant investment.
The minister underlined that a vibrant economic environment in Pakistan should be a stimulus for the US companies to view Pakistan as an opportunity.
The event was attended by scholars, members of Pakistani American community and representatives of the media.