CPEC likely to get fresh impetus

ISLAMABAD: Minister for Planning and Development Ahsan Iqbal said on Sunday that Pakistan expects speedy progress in the second phase (2030) of the China-Pakistan Economic Corridor (CPEC) following visit of China’s Vice Premier He Lifeng.

Addressing a press conference, the minister said that He Lifeng role has been very important in making CPEC successful after becoming Chairman National Development Reform Commission (NDRC).

Ahsan Iqbal said that Pakistan feels pleasure on the visit of Chinese Vice premier to Pakistan and Pakistan expects speedy progress in CPEC next phase (2030) as now he has been made vice premier to take care of Chinese economic area.

Chinese Vice Premier He Lifeng arrives in Pakistan to attend CPEC celebrations

Ahsan Iqbal said that the present government is trying to increase business-to-business cooperation in the next phase of CPEC besides taking forward the industrialization in Pakistan with investment in the sector, as well as, to increase agriculture productivity through use of Chinese technology. He said that the development in information technology with the cooperation of China as well as socio-economic sector uplift would also be priority in the next phase of CPEC.

The minister said that there is a complete agreement on the scope and technical parameters phase of ML-1 and hopefully it would also be undertaken soon. He acknowledged cost increase of various projects was increased during the last four years because of delay, mismanagement and global inflation.

The Minister said that after the signing of MoUs during the visit of Chinese President in April 2015 and subsequent investment under CPEC, Pakistan’s profile was changed from a security state to investment destination. In three years 2015-18, US$ 25 billion projects were undertaken for implementation and most of them were completed. As a result, he said that more than 8000-MW new projects for power generation were included.

These projects included coal, hydel and renewable energy and CPEC made Thar coal was made productive assets for producing cheaper power. Optional fibre was also installed to strengthen the country’s digital backbone besides motorways, roads, and Gwadar Port, etc.

Till 2018, infrastructure programme was implemented successfully and after 2020 industrial cooperation phase was to be initiated to develop as many as nine Economic Zones. He said that $25 billion investment was a record investment in the history of Pakistan which created employment opportunities.

He said that a broad based cooperation was started under the CPEC between China and Pakistan as China came to help Pakistan when no one was ready to invest in the country. He said that ten years celebrations in connection to CPEC are being organized and the Chinese vice premier would participate in the function in this regard.

The Minister said that CPEC’s gateway Gwadar was ignored during the last four-year tenure of previous government and this was evident from the fact that only one lac tons cargos were routed through Gwadar port whereas during the last fourteen months of the present government 6 lac tons cargos were routed.

He said that the present government has also completed water project of Gwadar, ensured electricity supply from Iran to Gwadar and made operational Panjgur transmission line to connect it with Gwadar besides undertaking dredging with the cost Rs 4.5 billion of the port. All these projects remained neglected during the previous government, the minister maintained.

He said that all these measures demonstrated government commitment of seriousness with regard to CPEC. The minister said that development was not priority of the previous government during the last four years. He said that energy problem was because the government has been unable to import fuel owing to low foreign exchange reserves.

Circular debt was increasing because of low recovery of theft and if this leakage is not plugged, the problem would remain unresolved, so there is need to stop the leakage so that tariff is not increased.

Copyright Business Recorder, 2023