Federal Minister for Planning, Development and Reform, Ahsan Iqbal has said that China-Pakistan Economic Corridor (CPEC) is attractive for investors across the world, urging the local business community to improve the quality of their products. Addressing the launching ceremony of 'Productivity, Quality and Innovation' initiative here on Friday, the minister said that 'made in Pakistan' products must be symbol of quality and standard. He said that private sector should invest in research by creating links with the academia as in present world of Fourth Revolution, innovation is key driver of rapid development.
He said that energy and infrastructure projects under the CPEC have been completed while the next phase of the project will help develop the country's industrial sector on modern lines. He said that roads, infrastructure and means of communication are crucial for the economy of a country.
He said that private sector should play key role for economic development and the government and academia should fully support it in this regard.
The minister said that Pakistan Muslim League Nawaz (Nawaz) government has provided platform to the business community by resolving energy crisis, overcoming law and order situation, and by providing network of roads, especially under the CPEC, and now it was private sector's turn to perform.
He said that political stability is another factor for economic development and continuity of the policy. He said that political instability seriously impacts the economy of the country.
The minister said that Pakistan's motorway length was 579 kilometres in 2013 while it has increased to 1,010 kilometres in 2018. He added that it is plan of the PML-N government to increase total length to 3,690 kilometres by 2019.
He said that despite having low addition and low competitiveness in agriculture sector, Pakistan is currently among top ten countries in the world in every category of the sector. He said, "By using modern technology and creating innovation, we can become top three countries in the sector."