Analysts Hail Government's Decision To Set Up CPEC Authority

ISLAMABAD, (UrduPoint / Pakistan Point News - 14th Jul, 2019 ) :A renowned Economist Mirza Ikhtiyar Baig has said the decision of the government to set up a China-Pakistan Economic Corridor Authority to upgrade the existing structure for speedy and focused execution of the projects was a positive move.

According to radio Pakistan, he said the decision would be further strengthening the confidence of Chinese investor and it was a long awaited decision. Many Chinese companies are willing to invest in Pakistan and to investing $5 billion in the country in the next three to five years.

The investment will be made in various small and medium-sized industrial sectors. We must avail the opportunity of foreign direct investment in different projects in Pakistan, he added.

He said there must be business-to-business interactions between China and Pakistan and this will provide a platform for regular consultation between the government and business community on matters related to private sector investments and push forward industrial cooperation under CPEC.

Another Economist Dr.Noor Fatima said the role of media in highlighting the importance of China Pakistan Economic Corridor project is vital as it is a flagship program for the future of our country. Many countries are willing to be part of this mega project, she added.

She said this project should not be politicized as it is a national project that will have a positive impact on the economy of our country. Pakistan is rightly focusing on attracting foreign investment under CPEC as it is a big opportunity for stabilization of the economy, she said.

The government should also focus on training for productive and skilled labors, she added.

International Relations Expert Dr.Huma Baqai said Prime Minister Imran Khan is determined to eradicate poverty from Pakistan on coming to power by following the Chinese model.

She said the government must introduce policies that will be in favor of the poor and will uplift them. The incumbent government wants to diversify CPEC in terms of foreign direct investment in the country, she added.

She said the special economic zones established under CPEC are expected to attract foreign direct investment in the country. Foreign Direct investment is important for economic growth of any country and Pakistan needs to attract more offshore investors to come here and invest different sectors, she said Another International Relations Expert Dr,Rasheed Ahmed Khan has said that the China Pakistan Economic Corridor is game changer project. In the first phase, the focus of the government was on infrastructure and overcoming energy crises.

The government managed to overcome energy crises to a great extent, he added.

He said the present government was focusing on a number of segments to stabilize the economy including tourism, agriculture and others.

Special attention was being paid to improve industrial sector in order to improve the exports and the incumbent government was committed to accelerating the progress of China Pakistan Economic Corridor projects and has set timeliness for concerned authorities to resolve all the pending issues related to the projects, he added.