CPEC Phase-II to provide more investment opportunities for foreign investors: SAPM Bajwa

Chairman China-Pakistan Economic Corridor (CPEC) Authority Lt General (retd) Asim Saleem Bajwa has said Phase-II of the mega project will provide even more investment opportunities for foreign investors.

Addressing an agreement signing ceremony between CPEC Authority and Chines companies in Taxila on Thursday, he said the second phase of CPEC will help revamp the basic infrastructure of the country.

“The agreement will boost foreign investment in the mega project leading to prosperity in the region,” he said, adding that under phase-II, new Railway tracks will be constructed and existing tracks will be extended, which will further improve performance of Pakistan Railways.

Speaking about the current projects, the SAPM said all projects under Phase-I were being completed on a fast track basis. “Eight energy projects have been completed while nine projects are under completion,” he said. “Projects worth Rs12.5billion have been completed under Phase-I of CPEC, while those costing around Rs14 billion are underway.”

He added that CPEC has now become a reality. “Through this, we are going to reduce the burden of loans and we are going for business to business cooperation and are looking at direct foreign investment. We are looking at individual entrepreneurs and investments, who will partner with Pakistani companies,” the SAPM added.

He added in the coming days, cooperation between companies will increase and that the public will get to see a lot of activity under the banner of CPEC.