CPEC’s economic potential attracting regional countries: PM

ISLAMABAD, Nov 30 (APP): Prime Minister Muhammad Nawaz Sharif,
Wednesday said that China Pakistan Economic Corridor was Pakistan’s
strategic economic initiative that has attracted the world in general and regional countries in particular.

“CPEC has changed the negative security narrative into an exceedingly positive economic narrative for Pakistan,” he said while chairing a meeting to review progress on CPEC at PM House.

He said the successful implementation of the projects under the mbrella of CPEC was a manifestation of the strong and time tested friendship between China and Pakistan and said its success has been substantiated by massive foreign investment in Pakistan.

He said there was a compelling reason for international investors to investment in Pakistan because of the success story of CPEC initiatives.

The meeting reviewed at length the benchmarks set for numerous energy, transport infrastructure and industrial projects. They also discussed the deliverables with particular focus on development of
Gwadar Port along with socio economic uplift projects in the area.

Prime Minister Muhammad Nawaz Sharif said that Pakistan’s economy
was in shambles in 2013 when the present government came into power.

He said it was China that supported and helped Pakistan in the economic revival at such crucial juncture for which the government and people of Pakistan were indebted to the Chinese leadership and people of China.

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“The visionary Chinese leadership supported us in translating
the idea of CPEC into reality,” the Prime Minister said.

Recalling his first official landmark visit to China in July 2013, the Prime Minister said that the visit marked a new phase in the development of the bilateral relationship by putting economic cooperation and connectivity squarely at the centre of the bilateral agenda.

The meeting was briefed that energy projects under the CPEC including Coal, Hydel, Wind, Solar as well as transmission lines were on track.

The participants of the meeting were briefed on the status of each and every energy project under CPEC in terms of timelines, transparency and cost effectiveness.

He said besides the infrastructure projects including Road, Rail, Aviation, Data Connectivity was also being executed simultaneously on fast track basis.

The meeting was informed that Early Harvest projects under the
CPEC would be completed by 2017 18.

The meeting also deliberated at the multiple passages of CPEC across the length and breadth of the country.

The Prime Minister reiterated that no region or territory must be left behind in reaping the benefits of CPEC.

The meeting took significant overview of the Gwadar Projects
including Gwadar East Bay Expressway; New Gwadar International Airport; Necessary facilities of fresh water treatment, supply and distribution; Technical and Vocational Institute; Pak China Friendship Hospital; Development of Free Zone and Gwadar Smart Port City Master Plan.

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It was emphasized that local population must be given priority while giving incentives for industries. The participants of the meeting were apprised of the recent developments and progress to boost industrial cooperation between China and Pakistan.

The meeting was also briefed on the steps already in place for safety and security of Chinese workers working on CPEC Projects.

Long Term Plan, energy cooperation, transport infrastructure and industrial cooperation in the long term was also reviewed during the meeting.

Prime Minister Nawaz Sharif said “our endeavours have started yielding substantive results; our continuing efforts in the completion of CPEC projects will InshaAllah transform the socio economic landscape of Pakistan where no one will be left behind in getting the benefits, the Prime Minister said.

He said that China has proven to be real friend of the people, State and the government of Pakistan. The energy projects under CPEC have provided an impetus to the energy roadmap of the country by initiating various energy projects’, the Prime Minister said.