CPEC to provide dividends for centuries: PM Abbasi

Lahore : Prime Minister Shahid Khaqan Abbasi Thursday said the China Pakistan Economic Corridor (CPEC) would provide dividends for centuries to come in the shape of employment generation, industrial growth and connectivity.

Speaking at a breakfast meeting arranged by the Pathfinder Group here in Davos, Switzerland on the sidelines of the World Economic Forum he said consolidation of democracy in Pakistan was a positive indicator and stressed all institutions should work hand-in hand for development and stability of Pakistan, a press release said.

The prime minister said Pakistan was privileged to be part of the visionary Chinese leaderships’ Belt and Road Initiative.

The meeting was also attended by Pakistani businessmen, media representatives, friends of Pakistan from several nations.

Abbasi said the PML-N government, on assuming power, faced major challenges of law and order, terrorism, energy shortage and an under-performing economy.

He said due to the hard work and commitment of government, law and order had improved considerably and restored investors’ confidence. “I met several business leaders here in Davos and all of them expressed a strong desire to invest and expand businesses in Pakistan”, the prime minister said.

Elaborating the success achieved in eliminating terrorism, he said Pakistan has fought the war against terrorism from its own resources with a heavy toll on human lives and substantial loss to the economy.

Pakistan had been hosting around three million Afghan refugees since long which was the longest and largest refuge provided anywhere around the globe. The world must acknowledge Pakistan’s efforts and sacrifices, he said.

Regarding the progress made on energy front, he said Pakistan had surplus gas and overcome energy deficiency in a sustainable and efficient way.”We have diversified our energy mix and with inclusion of coal and gas instead of expensive conventional fuels,” the prime minister said.

Pakistan had achieved high economic growth with low inflation and it was a positive scenario augmenting greater investor confidence, he said and added Pakistan had completed 1,700 Kilometers of six-lane motorways under the CPEC, a target which many developed countries found hard to achieve.

He said Gwadar port was operational and provided world class shipment and logistical facilities.