New corridors being added: Minister unveils plans for CPEC upgrade in Phase-II

ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives, Ahsan Iqbal revealed plans to upgrade China-Pakistan Economic Corridor (CPEC) in its second phase, with the inclusion of new corridors focused on growth, innovation, sustainability, livelihood, and regional connectivity.

To implement this vision, a seminar will be held in Beijing from 17th to 30th December to define the scope and implementation strategy for the upgraded CPEC.

The planning minister along with Chinese Ambassador Jiang Zaidong, awarded the staff working on the CPEC at the Chinese Embassy on Friday for their outstanding performance and contributions to the success of the initiative.

Five-year CPEC development plan: Ahsan calls for involving all provinces

Speaking at the ceremony, the federal minister emphasized the significance of recognising the exceptional contributions of employees working on CPEC projects. He noted that the event reflected the hard work, commitment, and collaborative spirit that have defined the bilateral cooperation between Pakistan and China.

He highlighted that CPEC stands as a symbol of the deep and enduring friendship between the two nations, fostering economic collaboration, people-to-people ties, and strategic partnerships over the past decade.

The minister commended the employees for their tireless efforts, which have been instrumental in the success of CPEC. He acknowledged their contributions across various domains, including infrastructure development, energy projects, logistics, and technology, which have collectively shaped Pakistan’s future. Their work has significantly boosted the economy, created jobs, and improved the quality of life for millions of people.

Iqbal praised the professionalism, expertise, and dedication of both Pakistani and Chinese workers, engineers, technicians, and project managers, who have played a pivotal role in completing numerous key projects and laying the foundation for future endeavors. He stressed that CPEC is not merely about infrastructure but about fostering sustainable growth and shared prosperity for both countries.

Highlighting the achievements of CPEC, he shared that the first phase has successfully concluded with the completion of 43 projects worth approximately USD 25 billion. These projects have added 8,800 MW of electricity to Pakistan’s national grid through 17 completed power projects, two coal mines, and a +660 kV HVDC transmission line.

In the transport sector, eight projects costing USD 6.7 billion have been completed, resulting in the construction of 888 km of motorways and highways, with an additional 853 km currently under construction. He noted that the Karakoram Highway (Havelian-Thakot) project has received international acclaim by winning the ENR award.

The minister further shared that CPEC has generated around 200,000 direct jobs, with the potential for manifold indirect employment.

He announced that the second phase of CPEC will focus on business-to-business cooperation in areas such as manufacturing, agriculture, mines and minerals, Gwadar Port, and the free zone. This phase will be more employment-intensive and aims to bring greater economic benefits to both nations.

Copyright Business Recorder, 2024