Investments under CPEC to yield 53 billion dollars

Staff Reporter BOL News

20th Aug, 2021. 08:40 pm
Covid-19 Cases may increase to 225,000 until the end of June, Asad Umar

LAHORE: Federal Minister for Planning, Development and Special Initiatives and National Command and Operation Centre (NCOC) chief Asad Umar has ruled out the possibility of complete lockdown in the country, saying Prime Minister’s smart lockdown policy has yielded the desired results.

Talking to newsmen during his visit to Challenge Textile Factory here on Friday, he said that investment in Pakistan under China Pakistan Economic Corridor was estimated at approximately 53 billion dollars.

Asad Umar said that 17 projects have so far been completed at a cost of 13 billion dollars while projects worth 12 billion dollars were nearing completion. He said that inflow of 25 billion dollars has not only created thousands of jobs but also helped increasing foreign exchange reserves.

The federal minister added that another 28 billion dollars investment was in the pipeline which would revolutionize the economy of Pakistan. He said that Chinese investment in mobile phone manufacturing would help in saving millions of dollars in foreign exchange.

SAPM on CPEC affairs, Khalid Mansoor said that installation of power plants in the first phase of CPEC has helped overcoming 16 hours of load shedding. “Now we are activating special economic zones so that more quality companies can invest in Pakistan. One window operation at economic zone will help early solution of problems”, he said.

Earlier, Challenge Textiles Managing Director Karen Chen briefed the guests about Chinese investment and company’s future plans.

 

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