Economic Growth Accelerates 5 Perc

Bloomberg news report said Pakistan’s economic growth has accelerated to almost five percent in the past three years after averting a balance of payments crisis in 2013.

It said that along with an easing of inflation and as domestic security threats have abated, china announced last year it will invest in projects worth about 46 billion dollars in Pakistan as part of China Pakistan Economic Corridor.

The report said Pakistan is seeking foreign investment of 1.7 billion dollars to build a new highway in Sindh to supplement a Chinese funded infrastructure network being laid across the country. It said that the national highway authority will ask for bids next week for the 296 kilometers highway between the cities of Hyderabad and Sukkhar.

The Bloomberg said construction of a six lane highway on the eastern route of the China Pakistan Economic Corridor is expected to start in the first quarter of next year.

It said that the highway authority has so far started over 9.5 billion dollars worth of projects in the past three years. NHA is hoping to attract another 5 billion dollars investment in the next five, more than half of which will be pegged to upgrade the china corridor routes.

The length of the main highway will be tripled to 1,800 kilometers by linking all road arteries with industrial zones on the route.

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