Islamabad: Advisor to Prime Minister on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh opined that the involvement of additional countries as stakeholders in the Pakistan China Economic Corridor (CPEC) is essential for the ultimate success of this significant venture, according to news sources.
He stated that the participation of other countries had the potential to strengthen the cooperation between China and Pakistan on CPEC projects. He made this assertion during a press briefing, following the inaugural ceremony of the ‘Pakistan Innovative Finance Forum’. He added that the inclusion of other countries would benefit the national economy and ensure that CPEC would be a success.
As per the publication, China has so far committed to provide USD 60 billion for CPEC projects. These include nine completed power projects (with a production capacity of 5,320 MW) that were developed at a cost of USD 7.889 billion, as well as 8 under-construction power projects (with a production capacity of 4,470 MW) that are to be developed with an estimated budget of USD 9.5 billion.
Dr Shaikh concluded by saying that CPEC was an important developmental project that would help improve the power generation capacity, enhance road infrastructure, upgrade the railway system and modernise the economic zone — all of which are beneficial for both the national economy and local/international investors.
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