Foreigners eager to invest in Pakistan: minister

LAHORE: Foreign investors are eager to invest in Pakistan due to the economic policies of the government, said Ahsan Iqbal, federal minister for planning, development and reforms, on Saturday.

Addressing the National Excellency Awards distribution ceremony, organised by the Young Engineers Council on the Engineers Day, the minister said the government policies have not hampered the economic activities in the past, but the political de-stability was responsible for it.

Prime Minister Nawaz Sharif has approved internship for 20,000 engineers and the government is planning that 100,000 youths would be imparted training in the information technology next year, Iqbal added.

"The China-Pakistan Economic Corridor is a practical picture of Pak-China friendship," he said, adding that participation of 65 countries in One Belt One Road (OBOR) conference was an example of success and 100 more countries had requested to join the project.

China wanted to make Pakistan an industrial economy, the minister said, adding that CPEC would make Pakistan progress.

Pakistani economy is growing speedily and the GDP growth has reached 5.3 percent this year, which is the highest in the last 10 years, as it was 3.7 percent in 2013.

“The present government made record investment in the energy sector, he said, adding that only 16,000MW had been produced in 66 years of the country's history, while 10,000MW would be inducted in the national grid between 2014 and 2018 (four years)," he added.

Iqbal said a new record is being made in the energy distribution and transmission lines. Resources have been expanded in the country and progress could be witnessed in every sector.

The Lahore-Karachi Motorway project would be completed in 2018, he said, adding that Balochistan has seen revolution due to construction of roads and highways.

"Roads are the first step to progress and prosperity, as they are helpful in elimination of poverty and ignorance," the minister said.

Revolutionary power projects are in the last phase of completion, he said, adding that Thar coal project could produce energy for 400 years.

"Another 2000MW will be produced till 2020/21 from nuclear power plant, which will be able to produce energy round the year," he added.