Federal Minister for Planning, Development and Reform Ahsan Iqbal said on Thursday that scope of China-Pakistan Economic Corridor (CPEC) had been enlarged by including social sector development along with energy, infrastructure and transport.
“It will help to uplift socially the backward areas of the country particularly Gwadar, the gateway of CPEC,” the minister said.
In his remarks at the CPEC’s fifth Joint Coordination Committee (JCC) meeting in Karachi, Iqbal said that development of CPEC would accelerate growth rates for both China and Pakistan resulting in peace, harmony and progress as fruits of our generation-long friendship.
The minister emphasized that long term plan for the Corridor should be developed in a comprehensive manner including utilization of spatial planning, identifying the need for improvement in various forms and means of communication and focusing on industrial and agricultural cooperation, which would be in the interest of both countries.
Further, the plan should account for the establishment of industrial parks and creating opportunities for improvement in employment and livelihood, identifying tourism prospects, efficient and effective utilization and conservation of resources including water, and identifying ways and means of financial cooperation to ensure the implementation of all these projects, he said.
The minister said that energy was a big constraint for Pakistan’s development objective.
The minister hoped that financial closure of these projects would be achieved soon.
“In the backdrop of our facilitation agreement, we had to jointly manage the completion of the project as per energy planning timelines”, he said.
“We also look forward to hear about the review process of energy projects and sign supplemental agreements to reflect the results including new projects agreed by the Working Group,” Ahsan Iqbal added.
About infrastructure projects, the minister noted that implementation of infrastructure projects was vital for the development of CPEC.
The minister said that it is essential that commercial contracts for the two big transport infrastructure early harvest projects, KKH Phase-II Thakot-Havelian section and KLM Multan Sukhur section are concluded at the earliest so that projects are completed as per the agreed timelines.
On Gwadar, the minister said it is the gateway of CPEC and that there was need to work for implementation of key initiatives to make Gwadar one of the most strategic port cities of the world and thereby creating immense opportunities and value for both the countries.
He commended the cooperation of Chinese government for considering the grant funding for development of Gwadar Port City master plan.
“We would like to have work on the master plan start as soon as possible,” Iqbal said.
The minister said that handing over of land for development of free zone had taken place, which, he said, was an important milestone in CPEC.
He praised the support and cooperation of the Chinese government, investors and financial institutions for development of CPEC. “We look forward to further enhance this engagement through exchange programs of private sector,” he said.
Minister said that both Pakistan and China are committed to pursue their joint economic agenda.
“We firmly believe that building this corridor would change dynamics of economic growth in the region and would bring prosperity and harmony in both countries as well as in the entire region,” the minister said.
