ISLAMABAD - Pakistan and China have decided to give a new impetus to the China-Pakistan Economic Corridor (CPEC).
Federal government has introduced new targets of socio-economic development under this unprecedented mega project.
“This development initiative would prove as a bright future for Pakistan”, said Minister for Makhdum Khusro Bakhtyar during a marathon session with his Chinese counterpart Ning Jizhe on Sunday.
Reaffirming the present government’s commitment on CPEC , the minister categorically said that all out efforts to be made for the success of this project of economic development and prosperity. CPEC is a reality and bright future of Pakistan, which aimed at initiating a modern era of trade and economic growth, he added.
He said that new dimensions are being added to take CPEC to further height. “To achieve the new set targets, the government is dedicated to put all energies together to make progress at the earliest,” Makhdum Khusro Bakhtyar reiterated.
During the meeting, both the sides expressed their agreement that CPEC is an engine of rapid growth in Pakistan and manifestation of Pak-China relations that would further promote inclusivity. Both the countries agreed on introducing a mechanism to ensure third country participation in CPEC .
The minister said that the present government accords top priority to the development of Gwadar as a stand-alone project. The port city is going to be transformed as a transshipment hub and a center for industrialisation with a special focus on heavy industries with a kind of incentives that produce a high rate of return, he added.
“The government intends to encourage projects based on indigenous sources of energy including Thar coal, hydel and renewables as the choice of local energy sources would reduce our import bill and guarantee cheaper energy.”
On this occasion, Ning Jizhe lauded the PTI government’s agenda and efforts for social and economic development of Pakistan and reiterated his commitment that Chinese companies would effectively work for completion of CPEC projects. He agreed to work closely with the new government to achieve the set targets.
The two sides decided to further expedite development projects in Gwadar and to ensure groundbreaking of New Gwadar International Airport, technical institute and hospital this year.