Chairman China-Pakistan Economic Corridor (CPEC) Authority Lieutenant General Asim Saleem Bajwa has said that Phase II of the mega project will provide more investment opportunities to foreign investors.
Addressing the signing ceremony of the agreement between CPEC Authority and Chinese companies in Taxila on Thursday, he said that the second phase of CPEC would help in the rehabilitation of the country's basic infrastructure.
'The agreement will boost foreign investment in the mega project, which will lead to prosperity in the region,' he said. He further said that under Phase II, new railway tracks would be constructed and existing tracks would be extended which would further improve the performance of Pakistan Railways.
Talking about the existing projects, SAPM said that all the ongoing projects under Phase 1 are being completed on a fast track basis. He said that eight energy projects have been completed while nine projects are being completed. 'Under CPEC Phase 1, projects worth Rs 12.5 billion have been completed, while work costing Rs 14 billion is underway.'
He added that CPEC has now become a reality. 'Through this, we are going to reduce the debt burden and we are going from business to business cooperation and are looking for foreign direct investment,' he said. We are looking at individual traders and investors, who will partner with Pakistani companies.
He added that in the coming days, cooperation between the companies will increase and the public will see a lot of activity under the banner of CPEC.
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