CPEC termed milestone in history of Pak-China relations

ISLAMABAD: Federal Minister for Planning Development and Reforms Ahsan Iqbal termed China-Pakistan Economic Corridor (CPEC) a new milestone in 65 years history of Pak-China relations and said both the countries transformed their geostrategic relations into geo-economic ties after signing this vital framework.

Addressing a seminar on “Iron Brotherhood”, organized by the Ministry of Information Broadcasting and National Heritage on Tuesday, he said the previous dictatorial regime threw the nation into others wars, paralysed country's economy and introduce culture of drugs and guns in the society.

However, the present government broke the status quo and started a new chapter of Pak-China relations by signing the CPEC framework for the economic uplift of the country.

The minister said the CPEC was not only a bilateral project between Pakistan and China, but it would connect this region with South Asia and Central Asia.

China would utilise this opportunity to reach markets in Europe and Africa, he said, adding that Pakistan would play its role as a bridge between the land and sea routes.

The Gwadar Port would be developed at a cost of $1 billion, he said, adding that a new airport and roads connecting the port with highways had already been constructed.

A hospital, water supply scheme, energy project and employment opportunities would be made available for the people of Gwadar, while this city would be brought at par with the developed areas of the country, the minister said.

Of the $46 billion investment under the CPEC, $35 billion had been earmarked to overcome energy shortage, he said.

About the pace of work on the Western route, the minister said the construction of the road from D I Khan to Bhurban would be completed by 2018.

He said Gwadar would be linked with Quetta through road link by the end of this year, adding that the Indus Highway is also being upgraded to bring about development and prosperity in Balochistan and Khyber-Pakhtunkhwa.

Iqbal said the country's 70 percent passengers and cargo utilised Peshawar-Karachi road and the construction of Peshawar-Karachi motorway would enhance the efficiency and cut down the transportation cost.

He said the government is focusing to modernise railways by upgrading its tracks signaling system locomotives and bogies.

The railways freight service had been revived by the present government, which helped reduce the transportation cost from Karachi to other parts of the country, he added.

The speed of passenger trains would be ehanced from the existing 80km to 160km after upgradation of tracks in the next four years.

The minister said Thar coal deposits were sufficient to produce 5,000MW during the next 400 years.

He also mentioned about LNG terminal, new transmission line and said huge allocations have been made for higher education and setting up universities in FATA, Zhob and Gwadar.

Iqbal said under the CPEC, $11.3 billion and $9.1 billion would be spent in Sindh and KPK, respectively.

Appreciating the Chinese leadership's vision and commitment, he said, China reposed trust in Pakistan and its people and announced $46 billion CPEC framework in the time of need.

He said China achieved economic development through political stability, social harmony and solidarity right, economic policies and reforms.  "We should follow the Chinese model to achieve economic uplift in the country," he added.