CPEC proving to be oxygen for Pakistan: Ahsan Iqbal

ISLAMABAD: Minister for Planning, Development, and Reforms Ahsan Iqbal has said that China Pakistan Economic Corridor (CPEC) had become one of the top regional cooperation projects in the world which will connect Central Asia, China, and South Asia.

“CPEC is proving to be oxygen for Pakistan as the country’s economic growth increased due to huge investment being made in infrastructure and energy sector under the mega project,” Ahsan Iqbal said while addressing CEO’s Forum at Boao Forum in China.

According to a press release received here, the minister said that all groups and political parties in the country were supporting the project to ensure success of CPEC.

He said Pakistan Vision 2025 was meant not only for development but its main target was also to eradicate poverty from the country.

Iqbal said CPEC helped the country to come out of energy crisis and with the uninterrupted supply of electricity to industries, the industrial production had significantly increased besides creation of thousands of new job opportunities.

Regarding Gwadar port, Iqbal said it would emerge as the top sea port of Asia. He informed that the CPEC projects were approved on the basis of solid feasibility studies. He said under CPEC, nine industrial zones were being constructed across the country which will create numerous new jobs.

China had announced mega development projects in Pakistan worth $46-billion under CPEC project, which focuses on road building and energy infrastructure to end chronic power shortages in Pakistan and to link China’s landlocked north-west with the deep-water port Gwadar on the Arabian Sea.

Meanwhile China will also expand industrial capacity cooperation in diverse sectors including chemical, pharmaceutical, engineering, agro, iron and steel. The two countries will also increase exploration and development of resources.

Under CPEC, a number of new economic zones will be created along the corridor.