Hafeez Shaikh Emphasizes CPEC and BRI as Catalysts for Enhancing Inter-Regional Connectivity

Promoting Economic Integration and Cooperation through Infrastructure Development

Hafeez Shaikh Emphasizes CPEC and BRI as Catalysts for Enhancing Inter-Regional Connectivity


Dr. Abdul Hafeez Shaikh, the Adviser to the Prime Minister on Finance and Revenue, emphasized the government's commitment to enhancing the business environment in the nation, catering to both local and international investors. Speaking at the inaugural session of the First Central Asia Regional Economic Cooperation (CAREC) Capital Market Regulators Forum, he underscored the ongoing efforts to streamline business procedures, resulting in a gradual increase in business activity.

Organized collaboratively by the Securities and Exchange Commission of Pakistan (SECP) and CAREC, this two-day forum revolved around the theme of "CAREC Capital Markets: Cultivating Stronger Cross-Border Collaboration."

Dr. Hafeez Shaikh extended a warm invitation to potential investors, assuring them of a conducive business climate and abundant opportunities in Pakistan's economic sector. He reaffirmed the government's commitment to transparency, vowing to eliminate obstacles and complications for investors.

Highlighting the significance of the China Pakistan Economic Corridor (CPEC) within the broader Belt and Road Initiative (BRI), he stressed its potential to bolster regional connectivity, particularly by providing Western China with a direct link to Gwadar Sea Port. With the completion of BRI and CPEC infrastructure projects, Pakistan would serve as a pivotal hub for inter-regional connectivity.

Dr. Hafeez Shaikh also unveiled plans for a privatization program designed to attract foreign investment and encourage local entrepreneurs to engage in commercial ventures. Special Economic Zones under CPEC were identified as key catalysts for increased Foreign Direct Investment (FDI).

Recognizing the pivotal role of communication and connectivity in regional development, he emphasized the importance of regulatory improvements to enhance transparency in the capital market. Dr. Hafeez Shaikh underscored the capital market's crucial role in fulfilling the financial needs of the private sector.

He proudly noted that Pakistan had successfully projected a positive image of its economy worldwide through its commitment to financial discipline and participation in the International Monetary Fund (IMF) program.