ISLAMABAD: The government is promoting the China-Pakistan Economic Corridor Project (CPEC), according to Minister for Planning and Development Professor Ahsan Iqbal, in order to achieve the sustainable economic growth and social prosperity that Prime Minister Muhammad Shehbaz Sharif has envisioned for the nation.
The minister explained that CPEC was a mega-development project that included developmental projects related to basic infrastructure, energy generation, Gwadar Port development, and industrial cooperation. He was speaking at a seminar on CPEC that was organized by the Bahria University in Islamabad. According to the minister, the project, which was launched on July 5, 2013, ten years ago, has given millions of people throughout the nation access to employment opportunities in addition to accelerating the pace of development in numerous national economic sectors.
The CPEC has made significant progress due to the vision of the leadership of the Chinese President Xi Jinping, he said adding that Gwadar, energy, infrastructure and industrial development projects were agreed upon during the visit of the Chinese President.
He said that 11 working groups were established in the context of CPEC projects, adding that there were key achievements in the construction and development of Gwadar port, adding that the port was fully functional, Gwadar airport, hospital, sea water potable plant and other projects have also been built.
The minister said that the projects which were completed under CPEC were contributing in economic development and employment creation and played a key role in improving the lives of the people. He said that the One Belt One Road initiative promoted economic and maritime cooperation in the world.
The first memorandum of cooperation of CPEC was signed on July 5, 2013, which was the story of Pakistan’s development, he said adding that the previous government threw away this opportunity for development.
Ahsan Iqbal said that Pakistan had made a revolution in industrial development in the 60s, but later geographical and social inequality hindered the phase of development. He said that the competition in innovation, research and creativity was vital for sustainable economic growth and development.
Despite the challenges, the government has successfully completed the CPEC projects within a year, he said and further acknowledged the valuable partnership between Pakistan and China which has enabled the successful implementation of CPEC projects and emphasized the importance of continued cooperation to maintain this momentum.
