Skip to Content

Wednesday, August 12th, 2020

Pakistan’s economic outlook improves significantly over last four years: PM


Prime Minister Muhammad Nawaz Sharif Tuesday

said Pakistan’s economic outlook had improved significantly over the last four years, which was globally acknowledged.

The prime minister expressed these views while meeting to Chairman of

Huaneng Group Cao Peixi, who along with a delegation of company’s officials called on him here at the PM House, a press release issued by the Press Information Department said.

He said economic growth was well above 5 percent while the

foreign exchange reserves at US $ 24 billion were at the highest in the country’s history.

Chinese Ambassador to Pakistan Sun Weidong was also

present during the meeting.

Welcoming the visiting delegation to Pakistan, the prime

minister informed them that Pakistan’s up-gradation to

Emerging Market by MSCI reflects the growing recognition of

Pakistan’s economic progress and potential.

Pakistan’s Stock Exchange was declared the best

performing Stock Market in Asia, which was attracting

significant foreign investments, he added.

The prime minister appreciated Cao Peixi for his exemplary leadership

and efforts to help Pakistan overcome electricity shortages by completing the Sahiwal Coal Power Project in a record period of 22 months,

ahead of the agreed commissioning schedule.

He felicitated Cao Peixi on being chosen for the conferment of

Hilal-i-Pakistan award by the president for his services and role in regard to completion of the project.

The award will be formally bestowed in the investiture

ceremony to be held at Aiwan-i-Sadr.

The prime minister hoped that the fast

track development of Sahiwal Coal Power Project will encourage

Chinese investors to seek further avenues of investment in


He invited Huaneng Group, China for further investments

in the power sector of Pakistan including transmission lines

and local coal-based power projects.

Cao Peixi thanked the prime minister for choosing his

name for the prestigious Hilal-i-Pakistan award in recognition

of his services.

The meeting was also attended by Muhammad Chief Minister Punjab

Shehbaz Sharif and senior officials of the federal government and provincial government of the Punjab.

Source: Ministry of Information, Broadcasting and National Heritage