BUSINESS HEADLINE

Pakistan introduces new dimensions to take CPEC to further heights

ISLAMABAD: Minister for Planning, Development and Reforms Makhdoom Khusro Bakhtiar has said that Pakistan is making all efforts for the success of China-Pakistan Economic Corridor (CPEC) for the country’s future, ARY News reported.

In a marathon session with his counterpart, Vice Chairmen National Development and Reform Commission (NDRC) of China Ning Jizhe, the minister reaffirmed Pakistan’s resolve for the success of CPEC, adding that new dimensions are being added to the project to take it to further heights.

“CPEC is a reality which promises bright future of Pakistan, aimed at initiating a modern era of trade and economic growth. To achieve the new set targets, the government is dedicated to put all energies together to make progress at the earliest,” said Bakhtiar.

During the meeting, both the sides expressed their agreement that CPEC- an icon of Built and Road Initiative (BRI), is an engine of rapid growth in Pakistan and manifestation of Pak-China relations that would further promote inclusivity. Both the countries agreed on introducing a mechanism to ensure third country participation in CPEC.

 

Khusro Bakhtiar said that the present government accords top priority to the development of Gwadar as a stand-alone project.

“The port city is going to be transformed as a trans-shipment hub and a center for industrialization with a special focus on heavy industries with a kind of incentives that produce a high rate of return,” said the minister.

The minister maintained that the government intends to encourage projects based on indigenous sources of energy including Thar coal, hydal and renewable energy sources with an aim to reduce the import bill and guarantee cheaper energy.

The two sides decided to further expedite development projects in Gwadar and to ensure groundbreaking of New Gwadar International Airport, Technical Institute and a hospital this year.

Secretary Planning, Zafar Hassan, Project Director CPEC, Hassan Daud and officials from NDRC as well Chinese Embassy also attended the meeting.

Via ARY