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ISLAMABAD, Aug 29 (APP): Minister for Planning, Development and Reforms, Ahsan Iqbal said on Monday that out of US$ 46 billion projects under China-Pakistan Economic Corridor (CPEC), projects worth US$ 18 billion were under full and active implementation phase while projects US$ 17 billion were in pipeline and in advance stage of approval.
In his welcome address during inaugural session of China Pakistan Economic Corridor (CPEC) and Expo organized by Ministry of Planning, Development and Reforms here, he said, it was unprecedented in the history that a piece of paper had been converted into an investment portfolio of US$ 46 billion.
All it happened owing to visionary Pak-China leadership, adding, “I must acknowledge commitment and hardwork of officials of both the countries who worked day and night to make the CPEC a reality,” he added.
He said, the leaders of Pakistan and China successfully translated the political relations into a strategic and economic partnership in such a short time.
Ahsan Iqbal said, Pakistan and China friendship had entered to a strong economic partnership, adding, today, China was number one foreign investor in Pakistan.
He pointed out that projects being completed under CPEC at Bin Qasim, Sahiwal, Karakuram Highways, Western Route, Sukkur-Karachi motorway, the dream of prosperity in the region was now a reality which had drawn attention of the world.
The Minister said, the CPEC was not only a network of roads, energy projects,infrastructure but it was a framework. The presence of all the provincial governments reflected the fact that there was complete consensus over the projects being completed under the CPEC.
He observed that the CPEC would not complete until the prosperity reached every nook and corner of the country.
He expressed the confidence that within two year, energy would be available for every sector after completion of first phase of the initiative.
About the summit, he said,the summit was organized to mark the signing of historic US$ 46 billion CPEC programme. It would provide a platform for exchanging ideas and open new avenues for increasing business.
This would help for strengthening business to business relationships besides enabling provinces to explore opportunities in CPEC to promote inclusive development and it would also help to create strong links between academia and industry for collaborative research in areas relating of CPEC.
He said, the CPEC Summit would bring opportunities for Pakistani investors and would enable them to develop collaboration with Chinese enterprises.
It would also create awareness about CPEC among private sector of Pakistan and about developing business opportunities, he added.