Every penny under CPEC being spent fairly: Sharif

• Punjab CM says Pakistan will stand on its own feet and achieve self-sufficiency with completion of CPEC projects
• Says China has always stood with Pakistan through thick and thin

Punjab Chief Minister Shehbaz Sharif said on Wednesday that every dollar was being spent in a transparent manner under the China-Pakistan Economic Corridor (CPEC) on welfare of the people and provision of basic facilities to them.

In his key address during the inaugural session of Pakistan-China Business Opportunities Conference organised at a local hotel here, the chief minister said that “China is fully aware of our problems and knows that Pakistan is facing serious challenges like terrorism, extremism and energy crisis, but still China came for our help and announced to invest billions of dollars in Pakistan”.

“China has expressed confidence in us and we will not disappoint it,” Sharif said as he expressed the hope that Pakistan would stand on its own feet under the leadership of Prime Minister Nawaz Sharif and achieve the goal of self-sufficiency.

The CM said that darkness of poverty, ignorance and unemployment would be removed from the country, and a new era of development and prosperity would usher in Pakistan. He said that the everlasting friendship between Pakistan and China was exemplary in the history of the world.

Sharif said that the historic investment of 46 billion dollars by the Chinese leadership in Pakistan reflected their love for the people of Pakistan and complete confidence in the federal government led by PM Nawaz Sharif. “We have to benefit from this opportunity at every cost for strengthening our economy on sound footings and this is the only way for marching forward,” added the CM.

Sharif also called on the investors to make investment in Punjab, adding that all facilities would be provided to them. “We invite investors to come forward and fully benefit from the opportunities of investment in energy, leather, cement, steel and other sectors.”

The CM said that China had always stood with Pakistan during war, peace, flood, earthquake or any other natural calamity, and the investment of billions of dollars under CPEC reflected the determination of China to steer its friendly country and its people out of problems.

Sharif said that the entire region would benefit from the completion of projects under CPEC, adding that a new era of development and prosperity would also usher in Pakistan. Besides the federal and provincial governments, he added, industrialists, traders, investors and government officials would have to play their collective role for benefitting from this great and historic opportunity.

“If we wasted this opportunity, the coming generations will never forgive us,” he said, and added that industrial zones would be established on both sides of the route being constructed under CPEC where investors of Pakistan and China could make investments. He also averred that all-out efforts would be made for protection of the investors.

The chief minister said that no doubt, Pakistan-China friendship was deeper than ocean, sweeter than honey, higher than Himalaya and stronger than steel. “China has given Pakistan dozen great gifts like Heavy Mechanical Complex and Silk Road but despite lapse of 68 years, the relations between both the two countries did not reflect economic and trade cooperation.”

Sharif said that the trade of China with India was 80 billion dollars whereas despite being tested and sincere friend of Pakistan, the mutual trade of Pakistan and China was just ten billion dollars. He said that China had always been willing to help Pakistan and ready to cooperate for strengthening its economy, but the previous governments did not pay attention towards it and could not fully benefit from this great friendship.

Prominent among those present at the conference included Lahore Chamber of Commerce & Industry President Sheikh Muhammad Arshad, other office-bearers of the chamber, Chinese Consul General in Lahore Yu Boren, China Pakistan Friendship Association President Sha Zukang and Punjab Investment Board Chairman Abdul Basit.

Addressing the conference, LCCI President Sheikh Muhammad Arshad said that this was the best opportunity of enhancing bilateral economic relations between Pakistan and China. He said that CPEC would give a new direction to the economic and trade cooperation between both the countries. He announced to set up China Desk at the LCCI, and said the same would provide guidance to the investors for investment.

Speaking on the occasion, Chinese envoy Boren said the conference would play a significant role in increasing economic cooperation and mutual contacts between people of the two countries.