China becomes top foreign direct investor in Pakistan after CPEC: Ahsan Iqbal
ISLAMABAD: Planning, Development and Reform Minister Ahsan Iqbal on Thursday said that China was now the number one foreign direct investor (FDI) in Pakistan, just within two years of the China-Pakistan Economic Corridor (CPEC).
While addressing the ‘Belt & Road’ CPEC Investment and Construction Cooperation Forum in Beijing, China, the minister also reaffirmed Pakistan government’s firm resolve and commitment to CEPC. Ahsan said that the Prime Minister Nawaz Sharif is personally supervising implementation of CPEC projects.
According to a message received from China, Ahsan Iqbal said that Pakistan was emerging as the favourite investment destination with economic reforms undertaken by government. Around 10,000MW electricity would be added by 2018 and additional 15,000MW by 2025, he said, adding that the government was building new dams, including Diamer Bhasha Dam, to overcome food security.
Further he stated that Balochistan and Khyber Pakhtunkhwa (KP) were rich in minerals and economic zones were being developed to take advantage of minerals and industries in Pakistan. The planning minister said that modern transport infrastructure under CPEC would make Pakistan’s economy competitive, adding that western and eastern routes would link all regions with China.
“China’s technology and experience combined with location and low cost advantage of Pakistan would create world class production platform,” the minister highlighted. He said that the Pakistani government was committed to put the country among top 15 economies by 2025.
“CPEC has taken Pakistan-China friendship higher than Himalayas to beyond stars,” the Minister added.
Federal Planning Minister Ahsan Iqbal and Balochistan Chief Minister Sanaullah Khan Zehri also witnessed signing of a memorandum of understanding (MoU) of collaboration between Pak-China Investment Company, FWO and China International Contractors Association during the seminar. The seminar was attended by around 200 participants of top Chinese and Pakistani companies.