Iqbal said that the China-Pakistan Economic Corridor (CPEC) is a tool for enhancing regional connectivity and not a conspiracy, and it is in the interest of greater economy of the region. The CPEC is a project of connectivity, cooperation and prosperity and not a conspiracy or a security threat, he added. The external forces are hatching conspiracies to halt CPEC but they would never succeed in their sinister designs, adding that the project has brought a message of prosperity for the entire region.
He further said that the private sector has to play a role of an engine of growth under the CPEC framework for attracting foreign investors and seeking joint ventures through multiple opportunities. The work on CPEC projects is successfully underway as this project is a game changer for the people.
Iqbal urged the business community to capitalize on business opportunities under the CPEC, adding that infrastructural improvement will encourage green field industrial setups, with focus on value additive industries that will provide real platform for competitive trade in global economy.
He said that Pakistan of today is different from that of 2013 when local industries were almost non-existent and 18-20 hour load-shedding was order of the day. He said that the CPEC has enabled Pakistan to overcome critical bottlenecks of energy and transport infrastructure, and the stage is set for Pakistan to enter the phase of industrial cooperation.
Iqbal said that 7000MW electricity has been energized so far, which is 42 percent of the total energy resources developed during the past 70 years. He said when the government assumed power in 2013, there was 16,000 megawatt of electricity in the system, now more than 7000MW has been added to it. He said that by May 2018, 2500 to 3000MW more electricity would be added to the national grid, bringing the total generation during the PML-N tenure to 10,000 megawatts, which is a record.
Ahsan Iqbal, who is also interior minister, further said that the menace of terrorism has been overcome and the remnants of terrorism are linked to cross-border activity from Afghanistan. Due to the prudent policies of the government, the challenge of terrorism has been overcome. He said that endeavours for revival of economy and security of the country have been acknowledged internationally, as Pakistan is being ranked among top economies by 2030.
Iqbal said that the rule of law and peace is the need of hour and the bigger development projects like CPEC will guarantee peace and sustainable development to the whole South Asian region. Former State Bank Governor Dr Ishrat Husain said that even Bangladesh has surpassed Pakistan, as currently it stands at 6 to 6.5%. Bangladesh''s exports for 2016 were $35 billion, whereas Pakistan''s exports were $21 billion in the same year.
Copyright Business Recorder, 2017