Pakistan sees CPEC as strong weapon to defeat poverty at the turn of the year

Islamabad: Pakistan sees the China-Pakistan Economic Corridor (CPEC) as a strong weapon to defeat poverty at the turn of the year.

Speaking to Gwadar Pro, Foreign Jalil Abbas Jilani said CPEC will remain the government’s top priority in 2024.

The CPEC is a substantial initiative designed to link Gwadar port in southwestern Pakistan to China’s Xinjiang region through an extensive network of railways, highways, and pipelines.

Signed on April 20, 2015, the CPEC agreement marked a noteworthy milestone in the economic collaboration between Pakistan and China, aiming to bring about economic prosperity and structural development in the region.

FM Jilani emphasized that the CPEC holds the promise of boosting Pakistan’s economy by attracting increased foreign direct investment, generating employment, and implementing energy projects to address the country’s energy crisis, including coal-fired power plants and sustainable energy solutions.

He maintained that this massive project is expected to enhance connectivity between Pakistan and China, fostering economic growth. He mentioned that the development of Special Economic Zones (SEZs) was a key aspect, serving as industrial hubs to facilitate business establishment and manufacturing, leading to employment opportunities and promoting technology transfer and skills development.

Beyond Pakistan CPEC holds significance for China, elevating its economic standing. This collaborative effort represents a golden opportunity for both nations to spearhead economic development, improve infrastructure, and strengthen their economic systems.

CPEC establishes a robust relationship between Pakistan and China, fostering cooperation and creating new avenues for trade and investment.

“Together, the two countries are actively shaping the future of CPEC, recognizing its potential for long-term success,” FM Jilani said.

Under the CPEC, China has made massive investments across Pakistan. This had created job, boosted power supply, enhanced road network, developed railways, supported health facilities and helped the education sector in Pakistan.

China itself has alleviated poverty through a planning and Pakistan hopes to do so with the help of the Iron Brother.