CPEC agreement should be kept transparent: ICST

ISLAMABAD: Islamabad Chamber of Small Traders (ICST), on Saturday, said the China-Pakistan Economic Corridor (CPEC) is to propel Pakistan’s economy forward and Gwadar is set to become a port worthy of its geopolitical location, but unnecessary secrecy may hit the project.

The problem with the CPEC agreement is that much of it is secret and undisclosed which is resulting in rumours and doubts, which is keeping local and foreign investors away, it said.

While sufficient details about the project are not available, the experience of African and Latin American countries can inform the masses of the outcome of investments, said Islamabad Chamber of Small Traders chief Shahid Rasheed Butt.

He said that greater transparency will lead to reduced suspicions and augmented interest on the part of local and foreign investors but it is not being ensured.

Shahid Rasheed Butt said that the government should take masses into confidence by informing about the number of loans, repayments, interest etc.