CPEC lifts Pakistan up in World Competitiveness Rankings: US magazine

NEW YORK: The China-Pakistan Economic Corridor (CPEC), although not yet complete, has already helped Pakistan’s economy climb several notches on the global competitiveness scale, according to Forbes, a leading American business magazine.

The magazine quoted a just published World Economic Forum Report (WEFR) which place placed Pakistan at 115th out of the 137 countries ranked.

“While this ranking is still low compared to neighbouring countries, it’s a big improvement from the 122th position the country occupied last year, and the 133th position back in 2014,” Forbes 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.