China assures to complete all projects under CPEC: Iqbal
ISLAMABAD: Planning and Development Minister Ahsan Iqbal has said that Pakistan is moving to Geo-economics from Geo-politics due to the game-changer China-Pakistan Economic Corridor (CPEC) project.
Talking to media after addressing the progress review meeting of Coordination Committee on CPEC in Islamabad, he said Chinese ambassador assured to complete all projects under the prescribed terms and conditions.
Ahsan Iqbal said the meeting reviewed all pending projects under CPEC.
Planning minister said all concerned departments were directed to finalize their feasibility reports till September.
The meeting was attended by Chinese ambassador Yao Jing and representatives of all the four provinces.
In April 2015, 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.
The plan, which would eclipse U.S. spending in Pakistan over the last decade or so, is part of China’s aim to forge “Silk Road” land and sea ties to markets in the Middle East and Europe.
The two sides had also agreed to strengthen cooperation in civil nuclear energy, space and maritime technology, counter-terrorism and defense.
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.