The China-Pakistan Economic Corridor (CPEC) centre of excellence was formally launched here on Monday to promote research and knowledge-based policymaking in the country.
The centre was jointly inaugurated by Planning, Development and Reforms Minister Ahsan Iqbal and Ambassador of China to Pakistan Sun Weidong.
Addressing the ceremony held in this connection, Ahsan Iqbal hoped that researchers at the centre would guide the policymakers and businessmen to get maximum benefits from CPEC and they would also help to keep the mega project in the right direction.
He urged the researchers to build linkages with international scholars and produce cutting-edge research for the country and region.
Ahsan said the CPEC had proved as a big bang for Pakistan economy, as the economy had turned around from its very sluggish condition back in 2013 to an extremely hopeful and robust condition in just three years.
“In 2013, the world was terming the Pakistan economy as the worst and no investor was ready to invest even $100 in Pakistan, then Pakistan’s time-tested friend China moved forward and initiated the $46 billion mega project,” he added.
Rejecting the notion that the completion of CPEC projects would only benefit China, the minister said a huge inflow of investment was pouring into the country which would help the local industry to flourish.
He said under CPEC early harvest projects, maximum energy projects would start generation in 2018 which would end load shedding in the country.
He said the country’s road, infrastructure, transport system was also being improved thanks to CPEC which would help to boost internal and external connectivity of the country.
The Chinese ambassador on the occasion said that CPEC had become a symbol of Pak-China long living friendship. He said the project would give more benefit to Pakistan than China.
He said 18 early harvest projects worth $18.5 billion were now under construction and they would be completed by next year, adding the CPEC projects would further mobilise Pakistan’s potential.
In recent years, he said, Pakistan’s economy had made tremendous progress and now the international credit rating agencies were rating Pakistan’s economy as good.
He said in next five years, Pakistan’s energy demand would surpass 33,000 MW and CPEC energy projects of over 11,000 MW would help meet the energy gap.
