The China-Pakistan Economic Corridor (CPEC) — which is still work-in-progress — has already started to help Pakistan climb several rungs on the ladder of global competitiveness and economic progress, a major US business publication noted.
The update comes on the back of a report recently unveiled by the World Economic Forum (WEFR), wherein Pakistan secured the 115th position out of 137 countries in total.
“While this ranking is still low compared to neighbouring countries, it’s a big improvement from the 122nd position the country occupied last year, and the 133rd position back in 2014,” Forbes — a leading American business magazine — said, referring to the boost in the country’s economy.
“One reason for this improvement is Pakistan’s progress in the infrastructure ‘pillar’ of the report, where the country is ranked 110th,” the magazine said.
The report also said China’s score for the infrastructure pillar decreased for the second year in a row, due in part to a decline in the quality of port infrastructure and the reliability of electricity supply.