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Saturday Jan 14, 2017
By
Web Desk

India expresses concern over UK`s support to CPEC

By
Web Desk
India expresses concern over UK`s support to CPEC

NEW DELHI: India has decided to convey its reservations to the United Kingdom on its support to China-Pakistan Economic Corridor, Indian press reported on Saturday.

According to the report, the British government's move to encourage its companies to invest in projects along the CPEC irked the Pakistan`s neighbouring state.The UK formally expressed interest in the CPEC during the recent visit to Pakistan of Alok Sharma, Parliamentary

The UK formally expressed interest in the CPEC during the recent visit to Pakistan of Alok Sharma, Parliamentary Under-Secretary of State to the Foreign and Commonwealth Office (Minister for Asia and the Pacific) of the British government.

According to the Pakistan`s Annual Development Plan 2015-16, GDP growth is expected to increase to 5.7 in light of investment in the China-Pakistan Economic Corridor (CPEC) project as well as the enhanced size of the Public Sector Development Programme (PSDP).

Through CPEC Pakistan will see an inflow of $46 billion. The following economic activity is likely to create 2 million direct and indirect employment opportunities.

Over the last year the government has added 386 Megawatt to the national grid system and another 2,500MW will be added this year to ensure uninterrupted supply of electricity to the industries and eventually improve the employment prospects in the economy.

Under the Youth Business Loan Scheme, young entrepreneurs between the age group of 21-45 years are being provided subsidised financing through designated financial institutions.

China-Pakistan economic corridor (CPEC) is a mega project of USD 45+ billion taking the bilateral relationship between Pakistan and China to new heights. The economic corridor is about 3000 Kilometres long consisting of highways, railways and pipelines that will connect China’s Xinjiang province to rest of the world through Pakistan’s Gwadar port.

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