CPEC set to enter B2B phase: PM

ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday said the China-Pakistan Economic Corridor (CPEC) was set to enter the next business-to-business (B2B) mode after the productive government-level phase.

Chairing a review meeting on CPEC, the prime minister said the government had rejuvenated the multi-billion dollar project that faced a hiatus during the previous government’s tenure. The meeting focused on infrastructure projects, particularly Main Line-1 (ML-1), Karachi Circular Railway and Karakoram Highway. The project related to the production of 10,000MW electricity from solar and wind sources also came under discussion.

Shehbaz Sharif said Pakistan is about to witness an industrial boom with the restoration of CPEC projects. He welcomed the interest of Chinese companies to invest in Pakistan’s solar projects.

The prime minister said the ML-1 rail project would play an important role in strengthening the national economy by connecting the country’s ports with China and Central Asia. He termed the ML-1 project the backbone of the country with high prospects of progress.

The meeting was attended by former prime minister Shahid Khaqan Abbasi, federal ministers Ahsan Iqbal, Khawaja Saad Rafique, Salik Hussain, Syed Naveed Qamar, Marriyum Aurangzeb, Syed Murtaza Mehmood and Tariq Bashir Cheema, Adviser to the PM Ahad Cheema, Minister of State for Petroleum Dr Musadik Malik, special assistants Tariq Fatemi, Zafaruddin Mehmood, Jahanzeb Khan and Syed Fahad Hussain, PM’s Coordinator Rana Ahsan Afzal, Badar Shehbaz and senior officials. Sindh Chief Minister Syed Murad Ali Shah joined the meeting through video link.