CPEC attracting billions in investment, creating massive employment in country: Asad Umar

Federal Minister for Planning and Chairman NCOC Asad Umar said that investment in Pakistan under CPEC is estimated to be $53 53 billion, out of which 17 projects worth $13 billion have been completed.

Projects worth Rs21 billion are nearing completion and these $25 billion investment has not only created thousands of job opportunities but also boosted foreign exchange reserves.

Federal Minister for Planning Asad Umar was talking to the media during a visit to the Challenge Textile Factory set up with Chinese investment on Multan Road here in the City.

Asad Umar said that out of the $25 billion investment, projects worth Rs28 billion are in the pipeline which will be implemented soon, saying these projects will revolutionize the national economy.

He said that under CPEC, Chinese investment in mobile phone manufacturing has started in Pakistan, which will save millions of dollars in foreign exchange.

When asked about corona spread, Asad Umar said that there would be no complete lockdown in the country, adding that the prime minister’s policy of smart lockdown has been successful and won appreciated world over.

CPEC Authority Chairman Khalid Mansoor said that in the first phase of CPEC, power plants were set up which helped overcame long duration of loadshedding.

“Now we are activating special economic zones so that more quality companies can invest in Pakistan. One window operation in the economic zone will resolve all problems of the investors.”

Earlier, the guests were briefed the Managing Director Challenge Textile on various aspects of the factory, the Chinese investment and the company’s future plans.