Economic recovery contingent on CPEC development after COVID-19: Khusro

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ISLAMABAD (APP) – Federal Minister for Economic Affairs Makhdoom Khusro Bukhtiar appreciated Chinese assistance to Pakistan for fighting the coronavirus pandemic.

He was talking to Chinese Ambassador Yao Jing, who called on him here at his office. The Secretary Economic Affairs also attended the meeting, a ministry press release said.

The minister said Pakistan’s economic recovery after the COVID-19 pandemic would be contingent on the developments around China Pakistan Economic Corridor (CPEC), which was now entering into a new phase.

It was discussed that priority in the second phase of CEPC was on socio-economic sector projects, with grant financing for direct benefit of common man which could be utilized to improve health infrastructure for an effective response to the pandemic.

Promotion of Business to Business (B2B) relationship for technological and industrial development through relocation of plants and factors to benefit from establishment of special economic zones remained an important milestone.

The minister also stated that the government was ensuring that all the ongoing projects would be completed on fast track basis.

He also highlighted that the government was focusing on building institutions and improving governance to steer the economy towards sustainable development.

The ambassador appreciated the minister’s support and assured that the Chinese government and the corporate sector would extend all needed support to Pakistan to achieve development goals set by the government.

He also appreciated the government’s resolve to face the challenges on economic and development fronts particularly in the wake of developments after COVID-19 pandemic.

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