Ahsan terms CPEC a ‘big bang’ for country’s economy

‘Corridor more beneficial to Pakistan than China’

ISLAMABAD: Minister for Planning, Development and Reforms Ahsan Iqbal on Monday said the China Pakistan Economic Corridor (CPEC) proved as a big bang for Pakistan economy as the economy had turned around from a very sluggish condition back in 2013 to an extremely hopeful and robust status in just three years.

He was addressing the launching ceremony of CPEC Centre of Excellence which aims to promote research and knowledge based policy making in the country. Ahsan and Ambassador of China to Pakistan Sun Weidong jointly inaugurated the centre.

The minister hoped that researchers at the centre would guide the policymakers and businessmen to get the maximum benefits from CPEC.

“In 2013, the world was terming the Pakistan economy as the worst and no investor was ready to invest even $100, then Pakistan’s time-tested friend China moved forward and initiated the $46 billion mega project,” he added.

Rejecting the notion that the completion of CPEC projects would only benefit China, the minister said a huge inflow of investment was pouring into the country which would help the local industry to flourish.

He said under CPEC early harvest projects, maximum energy projects would start generation in 2018, ending loadshedding in the country. He said the country’s road infrastructure, transport system was also being improved thanks to CPEC which would help boosting internal and external connectivity.

The Chinese ambassador on the occasion said CPEC had become a symbol of Pakistan-China friendship. He said the corridor would give more benefit to Pakistan than China. He said 18 early harvest projects worth $18.5 billion of CPEC were under construction and would be completed by next year. The ambassador said the CPEC projects would further mobilise Pakistan’s potential. He added that Pakistan’s energy demand would surpass 33,000 MW in the next five years and the CPEC energy projects of over 11,000 MW were going to help meet the gap. He said CPEC was the major and leading project of China’s One Belt, One Road vision.