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June 1, 2017

ADB exploring new economic corridors in Pakistan

Business

 
June 1, 2017

ISLAMABAD: The Asian Development Bank, under its programme “Scoping of Economic Corridor Development in Pakistan”, aims to identify potential economic corridors to enhance trade, regional connectivity, growth, and job creation through evidence-based mapping, a statement said on Wednesday. 

“The ADB is conducting a study on the potential economic development along the corridor for which ADB would select node cities,” Farzana Noshab, senior economics officer ADB, said while giving a detailed presentation at the headquarters of Board of Investment (BOI).

According to Ms Noshab, the study shall cover the area/city/location and match it with its economic potential i.e. market niche so that investment and economic activity is generated on the potential.  Earlier, a four-member delegation led by Wajid Rana, senior advisor on technical assistant ADB called on Azher Ali Choudhry, secretary BOI and Shah Jahan Shah, additional secretary BOI and discussed matter pertaining to its “Scoping of Economic Corridor Development in Pakistan” programme.

The meeting started with an introduction of CPEC, Pakistan Economic Corridors Programme (PECP), and Central Asia Regional Economic Cooperation (CAREC) as the economic corridors majorly impacting the economy of Pakistan.