CPEC to herald industrial revolution in Pakistan.

LAHORE -- The super mega project of China-Pakistan Economic Corridor(CPEC) is poised to herald industrial revolution and usher in an era of prosperity, development, progress, besides uplifting the socio-economic condition of the poor strata in Pakistan.

The United Business Group ( UBG) Chairman Iftikhar Ali Malik and the Group's candidates for the upcoming election of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) expressed these views while talking to reporter here on Sunday.

They added the CPEC was the game changer and a number of projects under the economic corridor were being completed. These projects, they observed, were putting a very positive impact on economic conditions of the people thus improving their living standard substantially.

Malik said that prudent economic decisions taken by Prime Minister Imran Khan were yielding positive results in stimulating the industrial growth in Faisalabad. He said that government's effective measures were also giving a boost to construction industry across the country while electricity relief package was also contributing a lot in accelerating economic activities in all sectors.

Responding to a question, Malik said that COVID-19 had crippled even the advanced economies of the world, countries including Pakistan were trying to maneuver through the coronavirus; monetary and fiscal policies were extensively being used to deal with negative economic impact due to the pandemic.

He mentioned the decision of allowing industrial operations during the second wave of coronavirus pandemic definitely had a salutary impact on the national economy.

Malik said the PTI government this time again during second wave of corona pandemic had made its best and

the economy was now recovering gradually because of appropriate policy recourse to address the macroeconomic imbalances. The stabilization efforts paid off with a sustained adjustment in current account deficit and continued fiscal prudence, he added.

The UBG Presidential candidate in the upcoming (FPCCI) election Khalid Tawab told reporter that all chambers

and affiliated trade associations of entire provinces of Sindh and Baluchistan had reposed unflinching confidence in the UBG policies which was evident from the fact that they elected the UBG vice presidential candidates in Sindh and Balochistan unopposed.

Khalid Tawab was of the view that COVID-19, in a way, further highlighted the fundamental weaknesses of Pakistan's economy such as low...