CPEC attracting more investment in infrastructure development: Dar

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ISLAMABAD, Nov 4 (APP): Minister for Finance, Muhammad Ishaq Dar Friday said the ongoing projects under China Pakistan Economic Corridor (CPEC) were stimulating further investment in infrastructure development in Pakistan.

The minister emphasized that Pakistan and China had a strong collaboration in developing connectivity in the region.

The finance minister was speaking to a delegation of Chinese private equity investors led by YauWai Ming, Chairman HaoTian Group Holdings Limited and Cheng Yan, Vice President China Huarong International Holdings Ltd, Hong Kong, called on the Finance Minister Senator Ishaq Dar here this morning.

Minister for Petroleum Shahid Khaqan Abbasi was also present on the occasion.

Ishaq Dar welcomed the delegation and appreciated the interest of Chinese investors in Pakistan.

He said that due to the strong economic fundamentals achieved by Pakistan in the last three years, international investors were keenly interested in investment opportunities.

Cheng Yan, greatly appreciated recent economic progress made by Pakistan.

She briefed the minister that the delegation was interested in identifying investment opportunities in Pakistan in the fields of infrastructure, finance, petroleum and retail business and they have
been preparing draft investment plans keeping in view the investment
opportunities offered by Pakistan.

YauWai Ming, Chairman HaoTian Group Holdings Limited said  the delegation comprised large asset managers from China and they were interested in investment in Pakistan due to the macroeconomic stability and investment facilitative regime in Pakistan.

The finance minister briefly discussed with the delegation the financial stability achieved by Pakistan during the last three years and steps taken to enhance ease of doing business.

He especially mentioned the high performance shown by recently established Pakistan Stock Exchange which is attracting
international investment interest.

Dar also said that the Pakistan Development Fund Ltd (PDF) would finance commercially viable infrastructure projects in Pakistan and that the government had received interest from IFC of the World Bank, China Development Bank and sovereign investment authorities for equity investment in the PDF.

He said the recently upgraded ratings of Pakistan by Standards and Poor’s was an ample proof of the gains Pakistan had been making in the economic field over a short period of time.

The minister appreciated the interest shown by the delegation in various fields and offered all possible assistance of his team to assist the delegation in identifying best possible opportunities to invest in Pakistan.

Secretary Finance, Chairman FBR, Secretary Petroleum, Secretary Water & Power, Chairman SECP and SA to FM and senior officials from the Ministry of Finance attended the meeting.