Futuristic CPEC project to benefit coming generations: PM

—Says economic zones built under CPEC to provide opportunities to investors worldwide

—Planning Minister Ahsan Iqbal says Pakistan to become hub of development with the help of BRI

—Chinese Ambassador Yao Jing says Pakistan-China relationship an example for other states to follow

KARACHI: Prime Minister (PM) Shahid Khaqan Abbasi on Monday said that the China-Pakistan Economic Corridor (CPEC) was not only a project for the present but had the potential to pass on its benefits to the future generations as well. He said this while addressing an event held in regard to CPEC.

He said the project had provided Pakistan with a strong foundation to set it on the path of development and prosperity.

The prime minister said the fruits of CPEC were not limited to Pakistan and other countries, including Afghanistan and West China, would also reap the benefits of this project.

He said CPEC provided the opportunity to all countries in the region to improve infrastructure and fulfill their energy needs. It would provide the most efficient trade route to Afghanistan, western China and the Central Asian Republics through rail and road networks, he added.

He also said that besides highways, motorways and energy projects, the upgradation of the main line of Pakistan Railways (PR) was also a part of CPEC.

He said special economic zones that would be built under the project would provide opportunities to investors across the world to build their businesses and take advantage of the project.

He also stated that the project had become a reality in less than three years since China’s President Xi Jinping first shared his vision of regional connectivity with the world.

Abbasi said that under CPEC, power transmission lines were being laid in Pakistan, while adding that the setting up of Special Economic Zones would eventually attract entrepreneurs from China and across the world, thus resulting in increased trade activities.

He said all projects under CPEC would be implemented, keeping in view two principles, namely economic viability and environmental sustainability.

He said that today, the project was providing a platform to Pakistan to regain its strength in technology and agriculture sectors and to double its efforts towards poverty alleviation in the country.

Earlier, the prime minister strongly condemned the recent incident of terrorism in Afghanistan that killed over 50 people.

Meanwhile, Planning Minister Ahsan Iqbal in his address said Pakistan would become a hub of development with the help of the Belt and Road Initiative (BRI).

The minister said the law and order situation in Karachi had greatly improved and the port city could once again take the lead in becoming the hub of economic activities by being conducive for foreign investment.

“This event proves that Karachi is changing,” he said, adding that when Pakistan Muslim League-Nawaz (PML-N) came to power in 2013, the city was known for target killings and extortion. “Now the age of development and growth has begun,” he remarked.

Talking about BRI, the minister termed it a huge opportunity. “Pakistan will become a hub of regional development with the help of this project,” he said. “We have made regional connectivity a key component of our Vision 2025,” he added.

Addressing the reservations about CPEC, Iqbal said, “There are lobbies that are not happy with CPEC and are calling the project a death trap.”

Speaking on the occasion, Chinese Ambassador Yao Jing said that Pakistan-China relationship was as an example for other states to follow. The Chinese ambassador said CPEC was not just about economic growth but it was also focused on the development of communities.

For the past 40 years, China had made every effort to develop and grow its economy, the Chinese envoy said. “We have combined socialism and market economy to benefit people,” he added.

Other prominent guests present on the occasion included Sindh Chief Minister Murad Ali Shah and Karachi Mayor Waseem Akhtar.

Meanwhile, PM Abbasi also held a meeting with Sri Lankan Army Commander Lieutenant General Mahesh Senanayake who called on him at the PM’s Office here, according to a statement issued by the PM’s Office.

Addressing the participants, Abbasi called for greater cooperation and sharing of expertise in the field of defence between the two countries. He also expressed satisfaction over the existing level of security cooperation between the two countries.

During the meeting, the two sides discussed matters pertaining to bilateral defence ties and mutual cooperation between Pakistan and Sri Lanka.

Commander Senanayake thanked the prime minister for extending them a warm welcome and appreciated the huge sacrifices of the Pakistani nation and its valiant armed forces in the fight against terrorism.

He said that Sri Lanka was keen to further strengthen its ties with Pakistan and promote multi-faceted cooperation in the areas of security and defence.