ISLAMABAD: Reiterating government’s resolve of no compromising on development of China Pakistan Economic Corridor (CPEC), Federal Minister for Planning, Development and Reforms, Makhdoom Khusro Bakhtiar said the government would soon establish CPEC Authority to speed up work on projects under it.
The authority would help strengthen country’s endeavors to achieve the set economic targets and enhance regional connectivity, Khusro said while addressing a press conference along with Special Assistant to Prime Minister on Information and Broadcasting Firdous Ashiq Awan.
He said the required legal framework would be prepared for the purpose as soon as possible. “We would soon come up with bill so that the CPEC authority is established as soon as possible,” he added.
He said the authority would be established after upgrading the existing CPEC infrastructure in the Ministry of Planning, Development and Reform, adding that skillful human resource would be hired for this purpose to run it on modern lines and strengthen the capabilities to achieve the set targets.
The minister said one of the purposes of establishing the authority was to speed up work on different CPEC projects so that the long-term CPEC plan 2030 for mutual benefit of China and Pakistan and complete regional connectivity.
He said the $230 million Gwadar Airport has already been inaugurated, while the work on water plant Gwadar Vocational Training Institution and hospital was underway.
The minister said the CPEC was the manifestation of long-term relations between China and Pakistan.
He informed that by the end of October this year, his Chinese counterpart along with a delegation would reach Islamabad to attend the ninth annual Joint Coordination Committee (JCC) on CPEC.
Khusro Bakhtyar said the government, this year, would also start work on the most important $8.5 billion railway project of CPEC for up-gradation of Main Line 1 (ML-1).
Further he informed the Multan-Sukkur motorway was set to launch in August this year while the Sukkur-Hyderabad motorway would also be completed soon.
He said in the Public Sector Development Programme (PSDP) 2019-20, the government had set aside funds for completion of Western Route of CPEC.
He said due to crisis in Pakistan’s energy sector, the international investors were reluctant to come to Pakistan, however at this difficult stage, the all-weather friend China came forward and invested heavily in Pakistan’s power sector to bring the country out of crisis.
He said now the government to government focus was being shifted to business to business focus and private sector would be engaged in the mega projects of the country in order to ease out budget pressure on government besides developing the small and medium enterprises of the country.
Khusro said recently, a high level Chinese business delegation had visited Pakistan and committed to invest around $5 billion in the industrial sector of the country.
To another question, the minister said that Pakistan’s balance of payment issue could be resolved by relocation of Chinese industry in Pakistan which would help producing value added export oriented products to boost export.