CPEC not a route but an 'economic revolution' for entire region: Prime Minister

Prime Minister Nawaz Sharif Friday said the China Pakistan Economic Corridor (CPEC) was not mere a route, but was an economic revolution for the entire region and would strengthen economies of the regional countries. He was talking to Bill Winters, Group Chief Executive of Standard Chartered who called on him here on the sidelines of the meeting of the World Economic Forum.
Bill Winters said the CPEC would attract the banking sector as with the initiation of the second phase of the project, a number of industrial and economic zones would be established. He said his bank has already started work in this regard. Nawaz said his government has complete faith in the private sector and its contribution in growth of the national economy. "We are facilitating the private sector through a liberal economic regime," he said.
He said the country's foreign exchange reserves were at their highest level and were increasing at a fast pace, owing to the confidence of investors and the robust economy. Winters said his bank has an "overwhelmingly positive view of economy in Pakistan where investment and capital were growing." He said Standard Chartered Bank was one of the biggest conduits in Pakistan for overseas capital. He said keeping in view the positive trends in Pakistan's economy; he was looking up for doubling his business in Pakistan.
"Fast growth of Pakistan economy is one of the major attractions for foreign investors," he said and added that his bank was investing in power, infrastructure, PIA and other sectors of economy. Winters said Pakistan was offering exciting business opportunities to foreign investors and the banking sector.