CPEC makes Pakistan investment destination

ISLAMABAD: Pakistan has emerged as an investment destination for the foreign investors because of the China-Pakistan Economic Corridor (CPEC) projects and improving security situation and economic indicators, said a minister on Thursday. 

“Under the vision-2025, we are restructuring portfolio of our productive sectors on cluster-based approach to transform agriculture, industry and mineral sectors,” said Ahsan Iqbal, minister planning, development and reform, talking to a delegation of Abraaj Group at his office.

Iqbal said Pakistan has become an attractive investment destination after the launch of CPEC. He said Pakistan’s perception has drastically changed in 2015 from 2013 when the country was labeled as the most dangerous in the world. 

“The world now recognises Pakistan as next emerging success story,” he said. The country now needs to capitalise the changed perception of country in the world. The government is launching “Brand Pakistan” campaign to remove the country’s misconceptions in the world. 

“We have also declared 2016 as year of productivity, quality and innovation for achieving competitiveness in the international market,” he said. “We are mobilising the indigenous resources to develop an export thrust for the economy.” 

He said the vision-2025 lays out a roadmap for taking the country into top 25 economies of the world by 2025. 

“The target is ambitious but achievable if government, private sector and academia synergise their efforts to achieve eight percent growth rate annually in next 10 year,” he said. 

Iqbal said K-Electric has brought reforms in the transmission and distribution of its systems. Around 10,000 megawatts of electricity would be added in the national grid by 2018. This additional power can be supplied only through timely upgrade of transmission and distribution system by 2018.