Economists term CPEC game changer for entire region

April 26, 2019: Economists on Friday said that the China-Pakistan Economic Corridor (CPEC) and One Belt One Road (OBOR) projects were the game-changer not only for Pakistan but also the entire region.

CPEC will bring mega improvement in various sectors including energy, industrial cooperation, infrastructure development besides creating millions of job opportunities for the countrymen, Analysts said while talking to Radio current Affiar's programme.      

Economist Dr. Noor Fatima said CPEC is a game changer Project for the entire region which connects South Asia with Central Asia and Europe.

China has emerged as the most attractive global financial market and pursuing economic centric policies. She said Pakistan was also following the policy of peace, integration and connectivity, adding, Pakistan’s response towards CPEC is magnificent.

CPEC Expert Dr. Manzoor Khan Afridi said Pakistan and China are strengthening economic relations with focus on increasing bilateral trade volume.

He said Pakistan wants duty-free access to Chinese markets and making business-friendly policies to attract more and more investors from China, adding, Beijing was already playing a pivotal role in improving Pakistan’s economy.

He said incumbent government realizes the importance of regional integration and connectivity for economic revival.

Economist Mirza Ikhtiar Baig Pakistan also said it is appreciable that we have successfully negotiated and convinced China to give duty-free access to 313 items, which comprises of 90 percent of our export to Chinese market.

Due to high tariffs, Pakistan was not able to export these items before, he said, adding, China has also allowed one billion dollar special procurement of grain to Pakistan.

He said ministry of commerce has worked very hard under the guidance of Prime Minister Imran Khan.

The incumbent government was taking corrective measures to uplift the economy of the country, he added.

Economist Dr. Aaliya Hashmi said development of provincial level economic zones was the top priority of the current government.

She highlighted, construction work on Rashakai economic zone is underway.

CPEC is a complete and planned programme for economic uplift of the country, she said, adding, it is imperative to train labors and upgrade their skills for in time completion of the project.

(APP)

Posted on: 2019-04-26T10:15:00+05:00

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