Federal Minister for Planning Ahsan Iqbal said on Tuesday that the China-Pakistan Economic Corridor (CPEC) is a game-changer having a win-win position not only for Pakistan and China but for the whole region. Speaking at the CPEC Business Opportunities Conference and Exhibition here, Ahsan Iqbal said Pakistan's Vision 2025 is based on international connectivity.
"We are now moving very fast and this is the demand of the time as no country can compete if it remains complacent. We cannot remain idle, if world goes slow we need to create new demands," he said He said Pakistan is situated at a very important strategic geographical position in this region. Pakistan is a junction and gateway for South Asia, China and Central Asia. Around three billion people live in this region with a 25 percent share in the total global GDP, he said, adding that Pakistan has the potential to become tiger of the region.
The Chinese embassy's deputy chief of mission, Zhao Lilian, in his speech talked about the importance of CPEC. He elaborated the importance of the One Belt One Road initiative. He said Pakistan has more advantage in progress and projects are being completed in less time as compared to China. China took around 10 years to cope with energy challenges while Pakistan needs only five years to overcome its energy crises.
He said Pakistani companies will find more benefits in investing in China. CPEC will promote business in both the countries. He said China is a more developed country and presents unmatched facilities to Pakistani companies, its infrastructure, industrial parks, free trade zones, economic zones, industrial parks and good practice in companies are the big features.
He said China's energy infrastructure development projects, which are mega power plants, will help Pakistan overcome loadshedding. There are so many benefits for Pakistan through infrastructure development. Pakistan will be linked with Central Asian roots, through building SEZs and this will boost trading activities.
Dr Ishrat Hussain, Former governor of the State Bank of Pakistan, said that those who think CPEC will only benefit China are wrong. It will help increase Pakistan's GDP at least by two percent, it will also help the underdeveloped districts of Balochistan to witness development. "SEZs will create enormous employment opportunities for our human resource. Right now, the most important thing for is for us to complete these projects on time without cost overruns."
Sindh Minister for Information, Labour, Human Resources, Transport and Mass Transit, Syed Nasir Hussain Shah said that the Government of Sindh has led from the front in CPEC and the first 300-plus MWs of energy of CPEC were deployed via wind energy plants in Sindh. The government of Sindh offers a very open, progressive and friendly investment regime.
He said that the government of Sindh supported the county's first project in PPP (Hyderabad, Mirpurkhas carriageway) as well as the country's last largest in public private partnership (SECMC Block-2 Thar). "We have robust PPP Unit and we invite Chinese to explore projects in partnership with GOS in infrastructure, health, transport, energy, agriculture and water supply and management. The first three special economic zones were setup in Sindh and now the special economic zone at Dhabeji, will be best connected and most viable.
The city of Karachi gives Chinese access to a market of four billion costumers. Due to the successful completion of CPEC infrastructure projects, distances have become shorter and connectivity throughout Pakistan will make business and trade easier. He said that GOS plans to build another port, industrial park and energy park at Keti Bunder along the eastern corridor of CPEC and this will generate tremendous business and investment opportunities for companies from all sectors.
He said that businesses in Pakistan are very keen to forge relationships with Chinese and the GOS is committed to supporting transfer of Chinese industries to Sindh. The Sindh Board of Investment actively support the interest of Chinese and will ensure a window to the government and will be one window facility for setting up business in the province.
The minister thanked the organizers for holding such a conference and providing a platform for stakeholders in Pakistan in engaging with Chinese businessmen. He said both countries stand together and will work for making countries and region secure and more prosperous.
The chairman of the Sindh Development Board, Muhammad Waseem, discussed the projects of Sindh related to CPEC. He said that it is a great opportunity to share and have an overview of economic, trade relations between the two countries. He also emphasized the highlighted areas for increased industrial cooperation between the two nations, saying that this event will be provided to all major stakeholders attending this conference a great opportunity to share concrete information on trade and business opportunities, development linkages between business leaders and government officials and policy makers.
The chairperson of SBI, Naheed Memon, also offered full support to the Chinese investors regarding CPEC. She said the government will facilitate the working of Sindh's projects through Chinese investment. Sardar Shoukat Popal Zai of the Balochistan Economic Forum, Tayyab Tareen, CEO of K-Electric and others also spoke. Six different MoUs were signed by Pakistani and Chinese entrepreneurs and investors in various trade and business.