CPEC to ensure Pakistan’s self-reliance in energy, diverse fields: Sartaj

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ISLAMABAD, Dec 13 (APP): Adviser to prime minister on Foreign
Affairs Sartaj Aziz, Tuesday said that Pakistan would attain self-
reliance in multiple fields particularly energy under the China
Pakistan Economic Corridor (CPEC).
Addressing a CPEC Conference organized by Pakistan Society of
Development Economics here, Sartaj Aziz said self-reliance in energy
wolud ensure the availability of electricity at cheaper rates.
He said that China would also provide assistance to Pakistan in
gaining energy through different sources including Liquified Natural
Gas, hydel and thermal modes to produce 17,000 mega watt
electricity.
The Adviser said completion of China’s agenda of ‘One Belt,
One Road’ would encourage local and regional trade, adding that CPEC
would also contribute to infrastructure development.
He mentioned that besides restoration of Korakorum Highway,
some Chinese power companies would also install their plants in
Pakistan.
He said the projects worth 36 billion dollar under CPEC were
soft loans with marginal mark up rate.
He said the country’s exports were not satisfactory other than
textiles, however CPEC would bring a positive boost to other local
industries as well.
Sartaj said the CPEC would have a long-term impact at
international level and would also bring a change in regional and
global politics.
He termed CPEC equally important for Pakistan and the region
and mentioned that Chinese leadership from day one was making
efforts for regional connectivity, of which the KKH was exemplary in
this regard.
The Adviser stressed the need for formulating reforms at
national level to fully benefit from CPEC.
He said that Pakistan was interested in initiating multiple
projects under the CPEC including cement, electricity products and
heavy machinery.
He said it was a high time for the country’s businessmen to
invest in these projects, which would result in creating job
opportunities for millions.
The Adviser said there was a need to develop workforce to meet
the requirements of these projects under CPEC so as not to rely on
Chinese workforce.
He said that China imports petroleum products from Gulf countries
and added that CPEC would provide an access to Russia and Central
Asian states.
Sartaj said Gwadar Port would open a new door of opportunities
for the people of Balochistan and added that several industrial
parks would be set up under the CPEC.