‘Work on CPEC projects to continue at same pace during next govt’
ISLAMABAD: Finance Minister Miftah Ismail says there is a national consensus on China Pakistan Economic Corridor (CPEC) project and all political parties are owning it being in the best national interest.
He was addressing a programme titled “Investment Opportunities with CPEC,” organized by Board of Investment in Islamabad.
The Finance Minister said work on the CPEC project will continue at the same pace even if the government is changed after next elections.
He said the present government has successfully materialized CPEC as most of the early harvest projects of the corridor have been completed or are in the final stage.
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.