ISLAMABAD: Minister for Planning, Development, and Reforms Ahsan Iqbal has said that China Pakistan Economic Corridor (CPEC) had become amongst the central cooperation projects of the world which will connect Central Asia, China, and South Asia.
“CPEC is proving to be oxygen for Pakistan as the country’s economic growth increased due to huge investment being made in infrastructure and energy sector under the mega project,” Ahsan Iqbal said while addressing CEO’s Forum at Boao Forum in China.
According to a press release received here, the minister said that all groups and political parties in the country were supporting the project to ensure success of CPEC.
He said Pakistan Vision 2025 was not only development-focused but its main motive was also to eliminate poverty from the country.
Iqbal said CPEC aided the country to come out of energy crisis and with the uninterrupted supply of electricity to industries, the industrial production had shown marked improvement besides cultivating numerous new job opportunities.
Regarding Gwadar port, Iqbal said it would emerge as the top sea port of Asia. He informed that the CPEC projects were approved on the basis of solid feasibility studies. He said under CPEC, nine industrial zones were being constructed across the country which will eventually create countless new jobs.
China had announced mega development projects in Pakistan worth $46-billion under CPEC project, which focuses particularly on infrastructure; road building and energy systems to end lingering power shortages in Pakistan and to link China’s landlocked north-west with the deep-water port Gwadar on the Arabian Sea.
Meanwhile China will also expand industrial capacity cooperation in diverse sectors including chemical, pharmaceutical, engineering, agriculture, iron and steel. The two countries will also increase exploration and development of resources.
Under CPEC, a number of new economic zones will be created along the corridor.