CPEC is not a new East India Company

Islamabad: Federal Minister of Interior and Planning, Development & Reforms Ahsan Iqbal has said that only continuity of policies, political stability, peace and unity in our ranks can promise successful, brighter and prosperous future of Pakistan.

The minister was addressing the inaugural session of Special Seminar on ‘Five years of China Pakistan Economic Corridor (CPEC) -- a story of success and opportunities,’ organised here by Sustainable Development Policy Institute (SDPI) in collaboration with Planning Commission and Chinese Embassy.

Ahsan Iqbal said that the spirit of the CPEC is shared destiny and shared prosperity adding that unless we preserve continuity, stability and peace we may not be able to gain the dividends of the CPEC. He said that China-Pakistan Economic Corridor is one of the biggest success stories that we have had in our whole history and it has become a biggest global brand of Pakistan that has grabbed the attention of the world leaders and every big economy of the world is now searching its shared future in CPEC. He said that innovation, technology and competitiveness are the new pillars of the economy to achieve growth and prosperity but recent political uncertainty in Baluchistan and Southern Punjab has pushed Pakistan’s development and prosperity on the back burner. He said the destiny is in our hands, either we want to see rising Pakistan or follow the path of destruction as we lost many chances in the past and CPEC provided the last opportunity to rise.

Yao Jing, Chinese Ambassador to Pakistan said that five years of construction, development and achievements is though very short time for the development of relationship between the two economies, but we are moving toward long lasting relationship. CPEC symbolises the strong cooperation and a new demonstration of relationship between Pakistan and China that is contributing to the new heights of state to state relationship of mutual respect. He said that by implementing CPEC projects, China wants to enhance cooperation and looking further opportunities in Pakistan.

Li Jihan Zaho, Deputy Head of Chinese mission, said that saying that CPEC is another East India Company is ridiculous and joke of the century. He urged the international investors to invest in Pakistan’s emerging economy.

Dr Abid Qaiyum Suleri, Executive Director, SDPI, said that China’s Belt and Road Initiative (BRI) is about creating a shared future in the fractured world and CPEC is one of its great successes. He observed that the success of CPEC as a transformational investment is critical for both China and Pakistan to demonstrate their ability to steer this region towards a shared prosperity.

Dr Suleri said political volatility, capacity, coordination, institutional trust, knowledge gaps, financing and flexibility in our policies are major challenges that may hinder the progress of CPEC. He said we are living in an era of economic diplomacy where we should collaborate rather compete.