CPEC to help ushering new era of trade and economic growth: Bakhtiar

ISLAMABAD: Minister for Planning, Development and Reforms Makhdoom Khusro Bakhtiar Sunday said China Pakistan Economic Corridor (CPEC) project ensures country’s bright future besides helping to usher a modern era of trade and economic growth.

Talking to Vice Chairman National Development and Reform Commission (NDRC) of China, Ning Jizhe here on Sunday, he reaffirmed present government’s commitment on CPEC and categorically said that all out efforts would be made for the success of this project of economic development and prosperity.

CPEC is a reality and bright future of Pakistan, aimed at initiating a modern era of trade and economic growth, said a press release.

Realigning the goals of China-Pakistan Economic Corridor (CPEC), Pakistan has introduced new targets of socio-economic and regional development under this unprecedented mega project, he said.

“This development initiative would prove as a bright future for Pakistan”, New dimensions are being added to take CPEC to further height, he said adding that “To achieve the new set targets, the government is dedicated to put all energies together to make progress at the earliest,” During the meeting, both the sides expressed their agreement that CPEC- an icon of Built and Road Initiative (BRI) is an engine of rapid growth in Pakistan and manifestation of Pak-China relations that would further promote inclusively.

Both the countries agreed on introducing a mechanism to ensure 3rd country participation in CPEC.

Minister PD&R, Makhdoom Khusro Bakhtiar said that the present government accords top priority to the development of Gwadar as a stand-alone project.

The Port City is going to be transformed as a transshipment hub and a center for industrialization with a special focus on heavy industries with a kind of incentives that produce a high rate of return, he added.

Industrial cooperation is the main area of attention where efforts are being made to encourage relocation of Chinese industries with a purpose to ensure rise in export and maximize employment opportunities, Minister PD&R said.

He highlighted that progress on special economic zones under CPEC has been expedited and investors from all across the world are encouraged to populate these parks.

Bakhtyar said that the government intends to encourage projects based on indigenous sources of energy including Thar Coal, hydel and renewables as the choice of local energy sources would reduce our import bill and guarantee cheaper energy.

On this occasion, the Vice Chairman NDRC, Ning Jizhe lauded government’s agenda and efforts for social and economic development of Pakistan and reiterated his commitment that Chinese companies would effectively work for completion of CPEC projects.

He agreed to work closely with the new government to achieve the set targets.

The two sides decided to further expedite development projects in Gwadar and to ensure groundbreaking of New Gwadar International Airport, Technical Institute and Hospital this year.

Pakistan and China have reached on a conclusion to develop transport infrastructure projects.

Secretary Planning, Zafar Hassan, Project Director CPEC, Hassan Daud and officials from NDRC as well Chinese Embassy also attended the meeting.