CPEC phase-II to herald ‘mass industrialisation’

ISLAMABAD: Special Assistant to Prime Minister on Information and Broadcasting Lt-Gen (retd) Asim Saleem Bajwa said on Thursday a process of mass industrialisation was going to be initiated in the country under the second phase of China-Pakistan Economic Corridor (CPEC) that would ensure self-reliance in various fields.

“We are all set to launch CPEC phase-II in a deliberate, prepared, and in an institutionalised manner with full consciousness of transparency,” he said while addressing a signing ceremony of “Business Cooperation Agreements” in various fields between leading Chinese entrepreneurs and Heavy Mechanical Complex (HMC) in Taxila. Bajwa, who also heads the CPEC Authority, said Prime Minister Imran Khan had already directed

for completing each and every project of the corridor. “The vision and direction of the Prime Minister is very clear that is to continue each and every project and complete them as soon as possible,” he said, adding all those projects which were held up due to procedural delay or technical reasons had to be handled on priority.

He said Pakistan-China relationship and development of the CPEC was not restricted to one government but rather it spanned over decades. Referring to some misleading news disseminated by some detractors, he said the CPEC was becoming a fast reality and it had been witnessed by all that even Covid-19 could not hamper the progress of the corridor projects. He said as per the direction of the Premier, loan burden on the government in Phase-II would be reduced by opting to the mode of business to business with the Chinese firms who would be invited to come to Pakistan and partner with the Pakistani companies

for investment. “We are connecting the companies from the two countries among themselves and a new business council for this purpose is also going to be announced soon,” he informed.

He said a lot of new projects and business activities were going to happen under the CPEC banner in the days to come.

The Prime Minister’s aide maintained that under second phase railway sector would be revamped by up-grading the mainline (ML-1) from Karachi to Peshawar.

“Manpower would be totally revamped, underpasses and overhead bridges would be built at all railway crossings, and speed of trains would significantly enhance,” he informed.

He said latest technology and industry would now be relocated to Pakistan and for this purpose preferred special economic zones (SEZs) were being established in all provinces under the CPEC.

“We are close to signing development agreement for Rashakai in Khyber Pakhtunkhwa and the work is in progress on Dhabeji SEZ in Sindh, while Allama Iqbal economic zone in Punjab has already been inaugurated,” he said. Bajwa said the signing of agreements between HMC and Chinese companies would help enhance exports as well as substituting the imports, besides boosting employment opportunities in the country.

“The revamping of HMC with the help of China will contribute in import substitution and prevent us from importing heavy machinery from abroad and we will be relying heavily on HMC,” he said while requesting all companies who were ready to install industries in SEZs to place their orders with HMC to get their machines as per their demand.

Speaking on the occasion, Chinese Ambassador Yao Jing said the agreement would help strengthen mutual economic cooperation. He said under the second phase of the CPEC, China would help Pakistan in building its capacity in various fields — including manufacturing, agriculture and science and technology.

Speaking through video link, Ambassador of Pakistan to China Naghmana Hashmi said Pakistan-China cooperation would further enhance capacities of HMC in playing role for the country’s development. Chairman Atomic Energy Commission Muhammad Naeem also spoke on the occasion.