Business

Chinese investors to bring $150b after CPEC: BoI chief

Insists country will need skilled manpower in many industries post-CPEC

APP December 08, 2016

ISLAMABAD: Board of Investment (BoI) Chairman Dr Miftah Ismail has voiced hope that after completion of the China-Pakistan Economic Corridor (CPEC), $150 billion worth of investment would be brought by Chinese investors in Pakistan.

“In the post-CPEC scenario, we will require skilled manpower to work in various industries in all provinces of the country,” he said while delivering a speech at the three-day 19th Sustainable Development Conference on the theme of “Sustainable Development: Envisaging the Future Together”.

The conference was organised by the Sustainable Development Policy Institute (SDPI).

Other countries pull out, China increases investment in Pakistan

Ismail emphasised that the government was keenly focusing on removing regional disparity and paving the way for equal development in all provinces, especially the remote regions.

Balochistan would get more benefits from CPEC and Gwadar Port would play a pivotal role in providing connectivity and enhancing regional trade opportunities, he said.

“CPEC will promote economic integration and regional connectivity for development and prosperity in the region,” Ismail said. “All provinces and regions have a shared opportunity for infrastructure development and industrial growth, which provides employment opportunities and ensures prosperity in the country.”

Turning to energy projects, he said work had got under way on the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline while Central Asia-South Asia 1,000-megawatt power supply project would also meet energy needs of Pakistan.

Earlier speaking at the inaugural session, Adviser to the Prime Minister on Foreign Affairs Sartaj Aziz underlined the need for South-South collaboration for peace and prosperity in the region.

He also highlighted the importance of regional and international cooperation for meeting new targets of the Sustainable Development Goals (SDGs).

He called for more investment, adopting new technologies, building capacity and identifying barriers to achieve the targets of SDGs and Vision 2025.

While chairing the inaugural session, Federal Minister of Climate Change Zahid Hamid said the government’s Vision 2025 had seven pillars and 25 goals, which were fully in line with the SDGs.

He insisted that implementation of the development agenda was possible with global and regional cooperation and CPEC was an example of that cooperation.

SDPI Executive Director Dr Abid Qaiyum Suleri said the conference provided a platform for evaluating and learning “what we have done wrong to avoid these mistakes in the future”.

Published in The Express Tribune, December 9^th, 2016.

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COMMENTS (4)

Ahsan | 7 years ago | Reply @Truth: Firstly, this figure is for after CPEC. However, the current level of CPEC investments is continually going up starting from $46 bn and now standing at $55 bn. It will rise much more than this in coming future. Secondly, friends don't compete but collaborate. Development of China's western region and Pakistan's underdeveloped regions is in favor of both the countries and their geo-economic vision for the region. This collaboration is going to be historical. Thirdly, cost of production in Pakistan is high due to lack of energy. Once CPEC projects are complete, they'll hugely reduce cost of production and doing business. China has its own industry, Pakistan will have its own. There is a great potential of business, manufacturing and production in Pakistan that CPEC will help fulfill. Fourthly, there are no good terrorists or bad terrorists. We are successfully on our way to exterminate terrorism. Future is bright. Fifthly, Gwadar Port is comparatively capable of handling much bigger level of shipment business. China has to pay more for doing business via sea in terms of time, money and security threats. CPEC and Gwadar Port provide much better cost-reduced alternative. Finally, Indian propaganda and propagandists will face DEFEAT. Wait and watch.

Oommen | 7 years ago | Reply Chinese banking sector is in deep trouble. (bad debts of state owned enterprises)

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CPECisGOLD | 7 years ago | Reply Pakistan should build road with gold after CPEC, it will be longlasting and shiny. Pakistan can afford it after CPEC. 150 billion is too small it should be more than 2 trillion. Indians will be embarassed hahah

Truth | 7 years ago | Reply After CPEC means after 2030? CPEC already started last month. Our FDI and Exports are already decreasing. Why should China invest in Pakistan and create a new competitor?Even if they invest will it be cheaper than goods manufactured in China or in other countries? No, because our energy prices are higher in whole South Asia. We already have Free trade agreement with China. Our trade deficit is already negative because of FTA with China. China will only improve its manufacturing facilities in China and give jobs to Chinese. Most importantly, we need to stop supporting good terrorist for business environment in Pakistan. Why China should transport goods through land route if it is ten times expensive than sea route? What is the use of Gwadar port when we are utilizing only 50% of Karachi port at present.

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