CPEC improves investment profile of country: Ahsan

Islamabad—GE (NYSE: GE) convened a select gathering of government officials, local and international experts, investors, financial institutions, dignitaries and leaders from the corporate sector to further dialogue and collaborative action on the opportunities and challenges in meeting Pakistan’s most critical energy, healthcare and transportation needs. Themed ‘Building for Tomorrow’, the event included panel discussions, exhibits and technical seminars on developing and financing infrastructure, with a particular focus on digitizing industry.

During his keynote address, Minister for Planning, Development and Reforms, Prof. Ahsan Iqbal stated, “The timing is right for strong investment in infrastructure development in Pakistan. Together with long-term technology partners such as GE, as well as our community of local and international developers and investors, I have no doubt that we can usher in a new era of prosperity and turn Pakistan into one of the top 25 economies of the world as envisioned under Vision 2025.” He said that the China-Pakistan Economic Corridor (CPEC) has improved the investment profile of the country in the world and turned it into a safe haven for billions of dollars of investment. The Minister said that Pakistan offers tremendous opportunities to investors and said that there are abundant opportunities in energy, infrastructure, IT etc.

Highlighting the government’s actions to accelerate the economy, Minister for Petroleum and Natural Resources, Shahid Khaqan Abbasi said, “The government’s efforts to strengthen the economy are reflected in a steadily rising growth rate, low inflation and increasing transparency in decision-making processes. We have tackled the energy deficit head on in particular and collaboration with investors and global digital-industrial infrastructure solution providers such as GE is helping us to meet a significant part of the country’s power requirements by the summer of 2018.” As part of its commitment to Pakistan’s development, GE has announced a $50 million investment in local manufacturing, clean energy projects and setting up a Digital & Technology Center.

The facility will help GE introduce digital-industrial solutions to support its partners to accelerate productivity and operational efficiency. It will promote customer and developer collaboration on new software solutions and Industrial Internet applications and will deliver training to build the skills of Pakistan’s technical & skilled professionals. The application of software and sensors on industrial equipment provides a constant stream of data that can be analyzed to optimize operations, predict problems before they arise and move to a world of zero unplanned downtime. GE is leading the application of these Industrial Internet based solutions across the world and in Pakistan. One example is GE’s collaboration with multiple independent power producers in Pakistan to improve the efficiency and output of existing equipment at their facilities using Industrial Internet based solutions. These projects were among the very first of their kind globally and prime examples of how GE is pushing the frontier of possibilities in Pakistan.