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CPEC will be growth-puller in future: WB


INP
June 11, 2020
https://www.thenews.com.pk/print/671005-cpec-will-be-growth-puller-in-future-wb

ISLAMABAD: The mega projects like China's BRI and CPEC will prove to be growth-pullers in the time of global recession in the days to come , said Gwadar Pro quoting the recently published reports...


ISLAMABAD: The mega projects like China's BRI and CPEC will prove to be growth-pullers in the time of global recession in the days to come (following the outbreak of Covid-19), said Gwadar Pro quoting the recently published reports and research studies of World Bank (WB) and IMF.

Although at present, this appears to be a remote possibility to some economists worried about the post-Corona negative growth, a WB's April 2020 report forecasts good days ahead for Pakistan whose "GDP is likely to increase up to 6.43 per cent till 2030, courtesy the steady pace of CPEC".

According to the research studies, certainly there is no reason to disbelieve this 2030 projection. Given the fact that despite slowing down of economic activity in many parts of the world, CPEC is entering its second phase that will also focus, among others, on more areas of cooperation like tourism, food security, science and technology and agriculture with enhanced partnership between China's and Pakistan's private sectors.

These authentic reports, released by WB and IMF, belie misdirected propaganda and baseless rumours that continue surfacing, periodically, at the behest of anti-CPEC elements whose jealousy and callousness about ever-growing Pak-China economic cooperation stands fully exposed.

The main factor underlying this increased cooperation despite Corona-related crisis, is the iron resolve of both the “Iron Brothers”, China and Pakistan, to remain steadfast on the path of shared prosperity.

According to Yao Jing, Chinese ambassador to Pakistan, "Completion of phase-1 of CPEC has laid a strong foundation for the 2nd phase which will focus on development of Special Economic Zones (SEZs) and strengthening of the trade and cultural ties through joint ventures and exchanges of delegations."

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