Washington: The International Monetary Fund (IMF) has stated that China–Pakistan Economic Corridor (CPEC) is of great significance to economic development in Pakistan.

While giving an interview to a Pakistani TV channel, IMF s mission chief for Pakistan Herald Finger said, “Pakistan can improve its competitiveness through reforms and business friendly environment.”

He urged to give priority to infrastructure projects included in CPEC and assured that the funding will be monitored in a better way.

He further stated that for successful completion of the project there is a dire need to have an inspection, assessment of priorities, correct cost estimation and improved financial system.

Herald Finger also stressed that funding for CPEC should be done within the limits of approximate budget while the agreements for the power projects should be prepared in such a way that the budget targets are not affected.