CPEC termed transformational project for Pakistan
Islamabad: Pakistani Federal Minister for Planning, Development and Special Initiatives, Ahsan Iqbal, addressed a seminar themed “Decade of CPEC and BRI and Beyond” organized by the Belt and Road Center of National Development and Reform Commission (NDRC) in Beijing and delivered a keynote speech.
Many academics and scholars associated with renowned think tanks and Chinese universities, and representatives of various SOEs participated in the seminar.
In his address, Ahsan Iqbal emphasized that the CPEC has emerged as a transformational project for Pakistan, helping the country address immediate needs of infrastructure development and frequent power outage by adding 8,000 MW to power generation.
Over the past decade, he maintained, the CPEC has helped Pakistan expand its economic base and enhance regional connectivity. CPEC, as a flagship project of the BRI, has achieved multiple milestones and contributed to Pakistan’s socio-economic development.
He said that 5-E’s framework i.e. Export, E-Pakistan, Environment, Energy and Equity envisioned by the Government of Pakistan is in line with the new five corridors of growth, livelihood, innovation, green energy and inclusive regional development for CPEC Phase II outlined by the Chinese Vice Premier He Lifeng last year.
The Federal Minister further said, “The people of Pakistan consider Chinese in Pakistan as esteemed guests” and added that Pakistan has taken extra measures to ensure the security and safety of Chinese institutions, personnel and projects in Pakistan.
The Federal Minister emphasized the need to conduct evidence-based joint research by the academics and scholars of the two countries to showcase multiple success stories of CPEC and BRI.
He stated that the Government of Pakistan is undertaking structural reforms to improve resource mobilization and cut losses. The creation of Special Facilitation Investment Council (SIFC) will synergize decision-making efforts by bringing all stakeholders on one table and facilitate the investors.
He shared that Pakistan is actively engaging various Chinese institutions for exploring efficient and affordable energy management system along with detailed green energy transition plan. In this regard, he extended invitation to various SOEs and private enterprises to study Pakistan’s energy system and share its recommendations with the Government.
Ahsan Iqbal underscored that Pakistan, with its unique geographical location and rich cultural heritage, stands as a bridge between civilizations and expressed his firm confidence that through CPEC and the BRI, both the countries can promote cultural exchanges, people-to-people contacts, educational collaborations and tourism. The Minister expressed that the priority of new government in Pakistan is to revive the same momentum of CPEC projects as in Phase I. “Under its Phase II, we envisage greater industrial cooperation by inviting Chinese industries to relocate to SEZs being developed in Pakistan.
“From G2G, we are promoting B2B linkages for greater private sector role in CPEC. Pakistan offers great investment opportunities in agriculture, energy, services, industries and technology sectors. Pakistan’s stock market has set new record showing growing confidence of investor community in policies of the government,” he added.
