CPEC a vision of prosperity jointly dreamed by Pakistan and China: minister

ISLAMABAD: Minister for Planning, Development and Special Initiatives Ahsan Iqbal said the China-Pakistan Economic Corridor (CPEC) is a vision of prosperity which was jointly dreamed by the leadership of Pakistan and China.

In very brief remarks at the launch of the Annual Sustainability Report 2023 here on Friday, he said that the completion of CPEC projects and the development of Gwadar port are proof of China’s commitment to it.

While speaking at the event, Chairman Senate Yousaf Raza Gilani termed CPEC a success story and said that the signing of MoU between Pakistan and China for 2nd phase underscored the will for continued collaboration in diverse sectors.

The event was jointly organised by the Sustainable Development Policy Institute (SDPI) and the China Chamber of Commerce Pakistan at the Pakistan Institute for Parliamentary Services (PIPS).

“CPEC is a non-partisan agenda in Pakistan as all political parties stood with the government while having a detailed session with Liu Jian Chao, Minister of Central Committee of the International Department of Communist Party of China (IDCPC),” the chairman Senate remarked.

Syed Yousaf Raza Gilani also observed that Pakistan Peoples Party (PPP) was the first which under the leadership of President Asif Ali Zardari paved the way for initiation of CPEC and economic cooperation between Pakistan and China.

“We are now entering the 2nd phase of CPEC with consistency in our relations and commitments by all political forces in Pakistan” the chairman senate said.

He observed that Pakistan is fully committed to ensuring foolproof security for Chinese citizens and workers undertaking tasks on CPEC projects.

He highlighted that the Special Investment Facilitation Council (SIFC) is working to address these challenges and bottlenecks.

Gilani has said that China-Pakistan Economic Corridor since its inception, has unfolded at an accelerated pace, and extended its roots to various sectors, encompassing energy, infrastructure, agriculture, transportation, and industrial development.

He further said that special emphasis is laid on the development of Special Economic Zones and both countries have expressed their shared commitment to sustaining economic growth while prioritising environmental sustainability.

He added that businesses should get benefit out of using the Chinese currency instead of US dollars in Pakistan’s financial transactions. Encouraging businesses to leverage RMB instructions can diversify financial pressures on the current account situation, and hence will be helpful for Pakistani economy.

He further stated that both countries are committed to furthering green energy initiatives and low-carbon development. Pakistan aims to leverage Chinese expertise in renewable energy technologies to achieve its goal of increasing renewables to 30 percent of the energy mix by 2030.

Gilani urged both Chinese and Pakistani companies to develop such joint projects which can access these funds and implement projects speedily to the benefit of both people and investors.

This, he said, will further strengthen business-to-business, people-to-people, and government-to-government relations.

Copyright Business Recorder, 2024