*ISLAMABAD – The Western and Eastern routes of the China Pakistan EconomicCorridor will be completed by next year, said the Project Director of CPEC,Ministry of Planning, Hassan Daud Butt.*
He, in an interview with the state-run wire service, told that in the firstphase, under CPEC, projects of energy and infrastructure were beingexecuted while in the second phase work on Special Economic Zones (SEZs)would be started.
He said as many as nine SEZs at various locations across the country hadbeen brought under CPEC in which provincial governments as well as theprivate sector entrepreneurs were taking keen interest.
He said with the establishment of SEZs, new industrial units would beinstalled in the country which would help increase in the trade activitiesacross the country.
Hassan Butt said after completion of the CPEC projects, a new era ofdevelopment would start in the country and the fate of the people ofPakistan would also be changed.
He maintained that the CPEC would also help further increase in bilateralrelations in various sectors including trade, education, and other socialsectors.
In April 2015, China had announced mega development projects in Pakistanworth $46-billion under CPEC project, which focuses on road building andenergy infrastructure to end chronic power shortages in Pakistan and tolink China’s landlocked north-west with the deep-water port Gwadar on theArabian Sea.
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The plan, which would eclipse U.S. spending in Pakistan over the lastdecade or so, is part of China’s aim to forge “Silk Road” land and sea tiesto markets in the Middle East and Europe.
The two sides had also agreed to strengthen cooperation in civil nuclearenergy, space and maritime technology, counter-terrorism and defense.
Meanwhile China will also expand industrial capacity cooperation in diversesectors including chemical, pharmaceutical, engineering, agro, iron andsteel. The two countries will also increase exploration and development ofresources.
Under CPEC, a number of new economic zones will be created along thecorridor.
