CPEC project to contribute to regional peace, prosperity through economic development

CPEC project to contribute to regional peace, prosperity through economic development

WASHINGTON, Feb 5 (APP): Minister for Planning, Development & Reform Prof Ahsan Iqbal told a leading US based think tank gathering in Washington that the China Pakistan Economic Corridor (CPEC) would contribute to regional peace and prosperity through economic development and connectivity.
Speaking at a seminar organized by the United States Institute of Peace
(USIP) Prof. Ahsan Iqbal highlighted that 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.
He pointed out that the ultimate objective of this corridor was peace,
prosperity and wellbeing of the people of the region. “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,” the minister added.
Outlining the contours of the CPEC, Prof Iqbal said bulk of the
investment under CPEC was in energy sector and infrastructure was the second most important sector of CPEC. These projects had stimulated overall economic growth in Pakistan and Pakistan’s steel, cement, and construction sectors were booming.
Prof Ahsan Iqbal informed the audience that as a result of robust
investment in Energy sector, Pakistan was expected to add a phenomenal 10,000 MW to the national grid.
Responding to various questions, Prof. Ahsan Iqbal outlined Pakistan’s
vision for a peaceful and prosperous neighborhood and a desire for inclusivity in development. He said Pakistan’s economic turnaround had been registered positively by credit rating agencies and had already begun to invite significant investment.
He underlined 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.