Miftah hopes work on CPEC to continue at same pace during next gov’t: Miftah

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APP56-23 ISLAMABAD: May 23 – Federal Minister for Finance Miftah Ismail addressing to a seminar on “Investment Opportunities in Pakistan with CPEC” organized by BOI. APP photo by Saleem Rana

ISLAMABAD, May 23 (APP):Minister for Finance, Miftah Ismail on Wednesday hoped that work on China Pakistan Economic Corridor (CPEC) project will continue at the same pace during the next government.
“Our government is ending in a week’s time, and whosoever (either
we or somebody else) comes to the new government will continue the policies and
agenda set by the Pakistan Muslim League (N) government for the mega project,
because there is a national consensus on CPEC and all political parties are
owning this project as part of national interest,” he said while addressing the programme
titled “Investment Opportunities with CPEC,” organized by Board of Investment
here.
The minister said that the PML-N government had successfully
materialized CPEC as most of the early harvest projects of the corridor were
now completed or in the final stage.
However, he made it clear that the current government did not
work on the mega project for its political purposes but in greater national
interest.
He said during the current government’s tenure, the Pakistan’s economy had turned
around and its growth rate jumped from mere 3 percent in
2013 to 5.8 percent this year and it will further increase to 6.2 percent in
the year to come.
He said inflation remained controlled under 4 percent, and
electricity problem had also been resolved to a great extent after addition of 10,000
MW to the national grid.
He said projects of 25,000 MW additional electricity were in
the pipeline, which would be completed within 5 years.
“Our exports are increasing at a much faster pace and
Pakistan had now become the world’s 8th fastest export growing country
in the world,” he said adding that the increasing exports and declining imports
would help reduce current account deficit burden and the whole system would be
streamlined in next few months.
“We are leaving Pakistan economy in a much better shape
after removing two major impediments-energy and terrorism.”
“We have broken the back of terrorists and peace is
prevailing across the country including Karachi and Balochistan,” he remarked.
Meanwhile Chairman BOI, Naeem Zamindar said that Board had
introduced 75 major reforms to improve ease of doing business in Pakistan which
will help in attracting more Foreign Direct Investment in the country.
Appreciating the role of local private companies he said the
private sector was playing incredible role in the country’s economy.
Secretary Planning, Development and Reforms, Shoaib Siddiqui
said there was still a perception problem regarding Pakistan.
He stressed that the international investors should be conveyed
the true picture of Pakistan, which was now becoming more and more attractive
place for the foreign investors due to higher rate of returns.
He said the real estate sector and the industrial sectors
were the real dividend of Pakistan.
Secretary BOI, Smaira Nazir Siddiqui also gave detailed presentation on the mega CPEC project.