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Ongoing phase of CPEC to bring socio-economic benefits, says planning minister

ISLAMABAD: Minister for Planning and Special Initiatives Asad Umar on Friday said the ongoing phase of China Pakistan Economic Corridor (CPEC) would bring socio-economic benefits to the people.

He was talking to Chinese Ambassador Yao Jing who called on him in Islamabad on Friday.

The Minister said bilateral framework agreements with China have now entered the second phase with a focus on poverty alleviation, agriculture and industrial cooperation. CPEC offered enormous potential to boost the national economy and reduce poverty, he added.

The two discussed future projects which will be included under CPEC.

The Chinese envoy expressed satisfaction over the progress of CPEC projects noting that the pace of CPEC projects has accelerated after the incumbent government came into power. He hoped the bilateral partnership between the two friendly countries will further strengthen in the future.

Earlier, on Nov 21, President Arif Alvi had CPEC is an important milestone in the journey of development and prosperity that would create new avenues and opportunities for trade and investment in the country.

Addressing the opening ceremony of the 5th China Agro Chemical Pakistan Summit at the Expo Center in Lahore, he expressed hope that the execution of the CPEC projects and the accomplishment of ‘one-road, one-belt’ plan will open new vistas of investment, trade, and technology in Pakistan.

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