‘Pak response to CPEC should be multifaceted’

Islamabad:Renowned columnist Zahid Hussain has said that Pakistan needs to respond to Chinese economic expectations regarding CPEC with an effective and consistent policy.

Mr Hussain was speaking at a discussion on “CPEC: an appraisal” organised here by Institute of Regional Studies (IRS). Emphasising the importance of nurturing existing synergy between the two nations, Mr Hussain highlighted the need for upgrading the skills of the Pakistani workforce to advance high-quality development in the second phase of the CPEC. He added that the recent signing of 27 new projects related to the development of Special Industrial Zones (SIZs), agriculture, tourism and other mutually beneficial initiatives was poised to significantly build on the commercial ties between China and Pakistan, leading to a new era of cooperation within the South Asian region.

In elaborating on the development of Phase 1, he admitted the slow pace but highlighted the instrumental role of several infrastructure projects initiated in the first phase in spurring economic growth of Pakistan. He also underscored the need to address shortcomings of Phase 1 to fully leverage the potential of Phase 2. Speaking on the occasion, Jauhar Saleem, President, IRS, underlined the critical importance of timely completion of CPEC projects, asserting that this would greatly enhance the strategic cooperative partnership between Pakistan and China.

He stressed the multi-dimensional cooperation facilitated by CPEC for enhancing trade, industrial collaboration and connectivity within the region and called upon the need for a fresh approach to capitalise on China's fast-growing economy.