Pakistan creates favorable socioeconomic ecosystem: Ahsan Iqbal

Pakistan creates favorable socioeconomic ecosystem: Ahsan Iqbal

ISLAMABAD: Minister for Planning, Development and Reform, Ahsan Iqbal said that Pakistan has achieved an economic growth rate of 5 percent and has able to create a favourable socioeconomic eco system which enjoys political stability.

Minister Iqbal remarked that a favourable ecosystem has resulted in attracting the interest of key global investors which are now eying Pakistan as a potential market for investments.

Minister Iqbal expressed these views during his address to Youth on Thursday at Fast School Management here at a seminar on "CEPEC Myths And Realities."

Ahsan Iqbal said that CPEC presents Pakistan with a historical opportunity to uplift the country's status as the hub of economic activity in the region.

Minister Iqbal urged the youngsters to prepare themselves in order to benefit from the opportunities offered by CPEC and play a constructive role in transforming the economy to a modern industrial economy by adding value at different levels.

Minister apprised the audience that China is promoting regional and global connectivity across the Asia Pacific region as part of its One Belt One Road initiative. Similarly, Pakistan's Vision 2025 focuses on helping Pakistan to leverage its geo- strategic location in order to explore the inherent economic options.

Mr Iqbal noted that CPEC is a fusion of Pakistan's vision 2025 and China's Vision of One Built One Road initiative.

He said that CPEC has changed the global narrative about Pakistan.

"The country which was ranked as the most dangerous country of the world is now recognised as the next emerging economy". Minister Iqbal further pointed out that Government of Pakistan's has forced the global media to recognise Pakistan as a safe haven for investments which once called Pakistan as safe Heaven for extremists.

Ahsan Iqbal further noted that CPEC energy projects will result in generation of additional 10,000 MW which will be added into National Grid by 2018.

He remarked that increased energy production capacity will help to overcome the prevailing energy crisis.

He said that Energy mix adopted under CPEC includes coal, hydel and renewable energy projects. He further stated that the present government for the first time under CPEC is tapping the Thar Coal reserves which can be a source of energy supply for many hundred years.

Mr Iqbal categorically rejected claims that coal power plants would create environmental hazards,Pakistan is using super critical modern technology which reduces hazardous emissions.

He said that CPEC is the platform of inclusive growth , where 85 thousands jobs will create for the youngsters.