CPEC related investment has reached approximately US $ 53 billion: Pakistani Planning Minister

Gwadar Pro

Lahore: Pakistani Federal Minister for Planning, Development and Special Initiatives Asad Umar said on Friday afternoon that investment in Pakistan under China-Pakistan Economic Corridor (CPEC) had approximately reached US $ 53 billion.

Umar, who also heads the National Command and Operation Centre (NCOC), said that 17 projects had so far been completed at a cost of US $ 13 billion dollars while projects worth US $ 12 billion were nearing completion.

Speaking to journalists here during his visit to Challenge Textile Factory, he said that inflow of YA $ 25 billion had not only created thousands of jobs but also helped increasing foreign exchange reserves.
The federal minister added that another US $ 28 billion 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.
Umar ruled out the possibility of complete lockdown in the country, saying Prime Minister Imran Khan’s smart lockdown policy had yielded the desired results.
On the occasion, Special Assistant to Prime Minister 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 (SEZs) 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.