BEIJING, May 9 (APP): Federal Minister for Planning, Development and Special Initiatives, Prof Ahsan Iqbal said that China Pakistan Economic Corridor (CPEC) has helped Pakistan expand its economic base and enhance regional connectivity over the past decade and as a flagship project of the Belt and Road Initiative (BRI), has achieved multiple milestones and contributed to Pakistan socio-economic development.
He made these remarks while delivering a keynote speech at a seminar-themed Decade of CPEC and BRI and Beyond organized by the Belt and Road Center of NDRC in Beijing.
The academics and scholars associated with renowned think tanks, Chinese universities and representatives of various SOEs participated in the seminar.
Ahsan Iqbal emphasized that the China-Pakistan Economic Corridor (CPEC) has emerged as a transformational project for Pakistan, helping the country address immediate needs of infrastructure development and frequent power outages by adding 8,000 MW to power generation.
He said that the 5-Es 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.
He said the people of Pakistan consider the 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 minister stressed 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.
Ahsan Iqbal said that the Government of Pakistan is undertaking structural reforms to improve resource mobilization and cut losses. The creation of the Special Facilitation Investment Council (SIFC) will synergize decision-making efforts by bringing all stakeholders to one table and facilitating the investors.
He shared that Pakistan is actively engaging various Chinese institutions for exploring efficient and affordable energy management system along with a detailed green energy transition plan.
In this regard, he extended an invitation to various SOEs and private enterprises to study Pakistan energy system and share its recommendations with the Government.
He 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 countries can promote cultural exchanges, people-to-people contacts, educational collaborations and tourism.
He said the priority of the new government in Pakistan is to revive the same momentum of CPEC projects as in Phase I.
Under 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 a greater private sector role in CPEC.
He said Pakistan offers great investment opportunities in agriculture, energy, services, industries and technology sectors.
Pakistan’s stock market has set a new record showing the growing confidence of the investor community in the policies of the government.
