A joint delegation of Chinese National Development Reforms Commission (CNDRC) and investors visit the site of economic Zone at Rashakai near Mardan. Project Director CPEC Economic Zone Khyber Pakhtunkhwa Ghulam Dastgir briefed the delegation about the Economic Zone. The Chinese delegation was told that federal government has started work on supply of electricity, gas and other necessary facilities to the zone. The economic zone which is being constructed under CPEC will generate over three hundred thousand jobs directly and indirectly.
Moody’s affirms Pakistan’s B3 rating, maintains stable outlook
The Moody’s Investors Service (Moody’s) affirmed the government of Pakistan’s B3 issuer and senior unsecured ratings and maintained a stable outlook. According to Moody’s credit analysis, Pakistan’s medium-term growth outlook is strong, supported by the CPEC project. The project to address critical infrastructure constraints, and the continuing effects of macro-stability-enhancing reforms started under IMF’s Extended Fund Facility (EFF) program in 2013-16. However, it added that the government’s debt burden was high and fiscal deficits remain relatively wide, driven by a narrow revenue base that also restricts development spending.
Construction work of Kurram-Tangi dam in full swing
Construction work of Kurram-Tangi Dam having a capacity of 83.4 MW is in full swing in North Waziristan Agency. The dam to be completed at a cost of about thirty billion rupees in five years. The dam will also irrigate three hundred and sixty-two thousand acres of land in North Waziristan Agency and Bannu district.
Government determined to provide equal development opportunities to all districts: Aftab
Minister for Parliamentary Affairs Sheikh Aftab says the government is committed to providing equal development opportunities to all the districts of Pakistan. He was addressing a high-level meeting of Steering Committee on Prime Minister Sustainable Development Goals in Islamabad to review the allocation of funds to all constituencies. He directed the concerned authorities to complete the ongoing projects before the deadlines.