Pakistan’s economic outlook improves significantly over last four years: PM

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APP35-04 ISLAMABAD: July 04 – Cao Peixi, Chairman, Huaneng Group along with a delegation called on Prime Minister Muhammad Nawaz Sharif at PM House. APP

ISLAMABAD, July 4 (APP): Prime Minister Muhammad Nawaz Sharif Tuesday

said Pakistan’s economic outlook had improved significantly over the last four years, which was globally acknowledged.
The prime minister expressed these views while meeting to Chairman of
Huaneng Group Cao Peixi, who along with a delegation of company’s officials called on him here at the PM House, a press release issued by the Press Information Department said.
He said economic growth was well above 5 percent while the
foreign exchange reserves at US $ 24 billion were at the highest in the country’s history.
Chinese Ambassador to Pakistan Sun Weidong was also
present during the meeting.
Welcoming the visiting delegation to Pakistan, the prime
minister informed them that Pakistan’s up-gradation to
Emerging Market by MSCI reflects the growing recognition of
Pakistan’s economic progress and potential.
Pakistan’s Stock Exchange was declared the best
performing Stock Market in Asia, which was attracting
significant foreign investments, he added.
The prime minister appreciated Cao Peixi for his exemplary leadership
and efforts to help Pakistan overcome electricity shortages by completing the Sahiwal Coal Power Project in a record period of 22 months,
ahead of the agreed commissioning schedule.
He felicitated Cao Peixi on being chosen for the conferment of
Hilal-i-Pakistan award by the president for his services and role in regard to completion of the project.
The award will be formally bestowed in the investiture
ceremony to be held at Aiwan-i-Sadr.
The prime minister hoped that the fast
track development of Sahiwal Coal Power Project will encourage
Chinese investors to seek further avenues of investment in
Pakistan.
He invited Huaneng Group, China for further investments
in the power sector of Pakistan including transmission lines
and local coal-based power projects.
Cao Peixi thanked the prime minister for choosing his
name for the prestigious Hilal-i-Pakistan award in recognition
of his services.
The meeting was also attended by Muhammad Chief Minister Punjab
Shehbaz Sharif and senior officials of the federal government and provincial government of the Punjab.