BRI provides tangible benefits to Pakistan through CPEC: Pak Envoy

China Economic Net

Beijing: Pakistan Ambassador to China Moin ul Haque said that the Belt and Road Initiative (BRI) are providing tangible benefits to Pakistan through the China-Pakistan Economic Corridor (CPEC), which is the flagship project of the BRI.

Addressing as a key speaker at the 13th China Overseas Investment Fair, the Ambassador mentioned that BRI holds great significance for Belt and Road Initiative’s partner countries. This year, Pakistan is also celebrating 10th anniversary of CPEC, China Economic Net (CEN) reported.

“Over the past decade, 888 km of the road network has been laid, and over 8000 additional MWs of energy have been added to Pakistan’s national grid with the commissioning of 13 new energy projects. A new 878-KM transmission line has been built to evacuate 4000MW electricity. An 820 km long cross-border optical fibre cable has been laid, and over 200,000 new jobs have been created. Various estimates have pointed out to an increase in 1-2% of the GDP of Pakistan”, he added.

Ambassador Moin ul Haque said that BRI has been successful in bringing down the walls of suspicions and doubts among the members of the international community and instead connected them with bridges of trade, commerce and cultural cooperation on the principles of win-win cooperation and mutual benefit. It thus transcends the artificial divides of race, religion and nationality and rallies the international community around shared dreams and common ideals.

“China-Pakistan Economic Corridor (CPEC) was envisaged as a comprehensive and long-term project with key objectives to upgrade transport and communication infrastructure, enhance connectivity, ensure energy security, promote industrialization, modernize agriculture and thus contribute to national socio-economic development agenda”.

He further stated that CPEC has transformed Pakistan’s economic landscape providing a solid foundation for future growth and development. Various statistics are evidence of the concrete, substantive and tangible benefits of CPEC for Pakistan.

“CPEC has now entered its vital phase of facilitating the industrialization process in Pakistan. The Special Economic Zones under CPEC have the potential to be a game-changer not only for Pakistan but for the entire region. With attractive incentives, these SEZs will be the mainstay of FDI in Pakistan. Gwadar Port with its infrastructure upgrade and strategic location augments these SEZs, adding to Pakistan’s stature as an attractive investment destination”, the ambassador added.