CPEC 10-year significance highlighted

Islamabad: Coordinator to Federal Tax Ombudsman (FTO) Meher Kashif Younis has highlighted the significance of the 10-year celebrations of the China-Pakistan Economic Corridor (CPEC) held in Pakistan.

He said the celebrations, for which Chinese Vice-Premier He Lifeng specially arrived in Pakistan, would help further promote economic cooperation between the two countries besides accelerating the pace of infrastructure development under CPEC.

Speaking at a seminar titled ‘One Decade of CPEC’ held under the aegis of Gold Ring Economic Forum, a strategic think tank, he said such healthy events play a crucial role in strengthening bilateral ties and fostering further progress, said a news release issued here.

He said Pakistan and China had strong bilateral relations characterized by economic, military, and diplomatic cooperation which are often referred to as ‘all-weather friends’.

He said, “Both have engaged in various joint projects, such as the CPEC, which aims to enhance connectivity and trade.” “It is a significant infrastructure project aiming to connect Gwadar Port in Pakistan to China’s Xinjiang region through a network of highways, railways, and pipelines.

“The project aimed to enhance connectivity, promote trade, and boost economic development in Pakistan and the broader region, he added.

Meher Kashif remarked:, “This multi-billion Dollar mega project is expected to have various impacts on Pakistan’s economy and will potentially attract foreign investment, create job opportunities, and improve infrastructure, which may lead to increased economic activity.”

He further said: “Pak-China economic relations have been historically strong and continue to be significant said adding that both countries have maintained a close economic partnership, with China being one of Pakistan’s major trading partners and a key source of foreign direct investment.”

He appreciated that both the countries have engaged in various trade agreements and joint ventures including energy, telecommunications, and manufacturing.

“China’s investments in Pakistan have contributed to the country’s economic growth, and the cooperation between the two nations remains pivotal for regional development,” he underscored.