CPEC to bring economic revolution in entire region: PM Nawaz

Davos: Prime Minister Muhammad Nawaz Sharif has said China-Pakistan Economic Corridor (CPEC) will bring an economic revolution in the entire region.

Talking to Chief Executive of Standard Chartered Group Bill Winters in Davos, he said his government acknowledges private sector’s contribution to the growth of the national economy. He said foreign exchange reserves are at their highest level and are increasing at a fast pace. It is due to the confidence of investors and the robust economy.

Nawaz said Pakistan offers liberal economic regime to attract prospective investors, Radio Pakistan reported.

Bill Winters hoped the CPEC would attract the banking sector. He said with the initiation of the second phase of the project a number of industrial and economic zones would be established.

The Chief Executive of Standard Chartered Group said his bank has an overwhelmingly positive view of economy in Pakistan where investment and capital are growing.

He said Standard Chartered Bank is one of the biggest conduits in Pakistan for overseas capital and he is looking up for doubling his business in Pakistan.