Seminar on CPEC: Trajectory, importance of project for Pakistan and region highlighted

Islamabad: The Islamabad Policy Research Institute (IPRI) hosted a significant International Seminar on Tuesday titled ‘China-Pakistan Economic Corridor at Ten: A Gateway to Regional Connectivity.’ The event featured prominent speakers who shed light on the trajectory and importance of the multi-billion dollar mega-project for Pakistan and the broader region.

Ahsan Iqbal, the Federal Minister for Planning, Development, and Special Initiatives, delivered a keynote address during the seminar. Other notable speakers included Dr Fazul-ur-Rehman, Director of the Pakistan Institute of China Studies (PICS); Khalid Mansoor, former Special Assistant to the Prime Minister on CPEC Affairs; Dr Hu Shi Sheng, Director of the China Institute of Contemporary International Relations (CICIR); and Sohail Malik, Team Lead of the Climate Resourcing Coordination Centre (CRC). The session was expertly moderated by Dr Salma Malik, Assistant Professor at Qauid-e-Azam University.

Minister Ahsan Iqbal emphasized that the China-Pakistan Economic Corridor (CPEC) is a transformative venture for Pakistan, representing a "Century Deal" that should be fully leveraged. He highlighted the significant progress made in Gwadar, where the electric problem has been resolved, and the area has been connected to the national grid. Furthermore, shipping activities in the bay have been revitalized, leading to substantial benefits for the local population.

Expressing concern, Ahsan Iqbal noted that Special Economic Zones (SEZs) have faced delays due to jurisdictional conflicts between the federal government and provincial authorities. While the provinces have taken ownership of the industrial zones, execution has been lacking. The minister stressed that the next phase of CPEC focuses on business-to-business collaboration rather than government-to-government interaction, emphasizing the importance of industrialization and the need to seize this opportunity.

Ahsan Iqbal mentioned that Pakistan is seeking knowledge and expertise from China to enhance its import capabilities and promote value-added products. He stressed the importance of long-term planning to address balance of payment crises that may arise with economic growth. The minister called for a sustainable export policy that takes into account the interconnected nature of politics, economy, and defence. Highlighting the lessons learned from China, Ahsan Iqbal underscored the significance of political stability, territorial contiguity, peace, and social solidarity for the success of such transformative projects. He expressed optimism about the launch of Chashma's 1200 MW project in collaboration with China and expressed hope that the Special Investment Facilitation Council (SIFC) would play a vital role in addressing implementation challenges.

Regretfully, the minister acknowledged that Pakistan had wasted valuable time entangled in regional geopolitical conflicts, emphasizing the need to focus on constructive endeavours like CPEC. The International Seminar on CPEC provided a platform for valuable insights, discussions, and future collaborations, reaffirming the project's significance as a vital gateway to regional connectivity.