CPEC credited for attainment of sustainable economic development in Pakistan

Islamabad: Speaker of the Pakistani National Assembly Raja Pervez Ashraf has said that the China Pakistan Economic Corridor (CPEC) had played a massive role in the attainment of the sustainable economic development through enhanced connectivity and socio-economic development.

He made these remarks at the launch of “APCEA Sustainable Development Report 2022” l, an event jointly organized by the Sustainable Development Goals (SDGs) Secretariat of the National Assembly of Pakistan in collaboration with the All-Pakistan Chinese Enterprises’ Association (APCEA) at the Pakistan Institute of Parliamentary Services.

Raja Pervez Ashraf highlighted that the CPEC was an epic manifestation of ironclad friendship & all-weather strategic cooperative partnership between Pakistan and China.

He also said that the project was mutually beneficial for both countries rather than the whole region could reap benefits from the project owing to its viability.

He contended that sustainable economic development had always remained a top objective for Pakistan despite challenges. CPEC had played a massive role in the attainment of the above objective through enhanced connectivity and socio-economic development, he added.

The SDGs Secretariat in collaboration with APCEA organized the launch of a report titled “APCEA Sustainable Development Report 2022”.

The report provides a comprehensive overview of the CPEC projects in Pakistan while highlighting the contribution of the CPEC in the implementation of the 2030 Agenda.

Ashraf stressed that CPEC was one significant strategic imperative that has received attention both in Pakistan and around the world.

“The project’s continuing second phase has shifted its emphasis to the Pakistani education industry, economics, infrastructure, and sustainability including the opening of technical education institutions and the initiation and expansion of student exchange programs,” he remarked.

Wang Jie, Executive Vice Chairman APCEA and CEO of Bank of China Limited Pakistan Operations, in his welcome address, elucidated the vital need for realizing the importance of sustainable development and taking all possible corrective actions.

APCEA Sustainable Development Report 2022 briefly summarizes the sustainable development achievements of Chinese enterprises in the year 2022. He expressed APCEA’s beliefs about the terms “sustainability” and “sustainable development” which go beyond generating renewable energy.

He stated that Chinese enterprises practice sustainable development in all aspects, to support Pak-China relations. Consequently, their guiding principle is the fulfillment of Corporate Social Responsibility (CSR), including reliability, technological advancement, the welfare of the local community, and the development of their talents.

Romina Khurshid Alam, Convener National Parliamentary Taskforce on SDGs, while highlighting the key takeaways from the report she stated that with “Pakistan’s youth bulge in mind and the Phase II of the CPEC, there is a need to prioritize the construction of new schools, technical and vocational training facilities, and higher education institutions while also renovating the existing ones”. She further highlighted the role of CPEC towards the sustainable development goals especially SDGs 7 (Clean Energy), 8 (Decent Work and Economic Growth), 11 (Sustainable Cities and Communities), 13 (Protect the Planet), and 17 (Partnership for Goals).

Aisha Ghaus Pasha, Minister of State for Finance and Revenue, stated that CPEC will supplement Pakistan’s socioeconomic development as the tremendous human capital of the region is its biggest asset.

She further stated that CPEC projects have unleashed opportunities for socio-economic development for the people of Pakistan. It was remarked that in CPEC Phase II, investment possibilities worth several billions of dollars are available in Pakistan in industries that directly support the SDGs. Transportation and logistics, renewable and alternative energy, healthcare, education, technology and communication, and finance are just a few of the industries covered. CPEC also provides huge prospects for talent development and the creation of regional value chains with China.

Chen Yen, CEO of Challenge Fashion Private Limited, also presented her views on the occasion. She remarked that China-Pakistan Economic Corridor (“CPEC”) is an economic marvel of its time. The actual benefits of CPEC are innumerable for the region and are not only related to the economy but shall also help Pakistan in achieving economic growth propelled by green development. With consistent and dedicated efforts of both countries, Pakistan’s economic growth is bound to achieve greater heights.