CPEC milestone in Pakistan-China relations: PM

CPEC milestone in Pakistan-China relations: PM

ISLAMABAD:Prime Minister Shahid Khaqan Abbasi has said that CPEC, which is a flagship project of Belt and Road Initiative, is a milestone in Pakistan-China relations.

Addressing Boao Forum for Asia annual conference, he said Pakistan's economy is progressing at the rate of six percent and the country will join the ranks of major economies in 2050. He said Gwadar Port is going to become global trading centre, which will usher a new era of progress not only in the country, but also in the region. He said Pakistan offers splendid opportunities to world investors. He welcomed Alibaba Company of China, which expressed desire of making investment in Pakistan.

The Prime Minister said Pakistan is pursuing a policy of zero tolerance against terrorism and has achieved great success in eliminating terrorists from its soil.

During his formal address to the Forum, Shahid Khaqan Abbasi said that Pak-China friendship is bedrock of strategic stability.

He said China Pakistan Economic Corridor is fast reaching fruition. It is an excellent example of an open, coordinated, and inclusive development paradigm that benefits all stakeholders.

The Prime Minister pointed out that on the southern tip of the Corridor, development of the deep seaport of Gwadar will afford shortest maritime and overland access to Western China, Central and South Asia and the Middle East.

Shahid Khaqan Abbasi said Pakistan has already begun reaping dividends of CPEC rail, road and infrastructure projects.

He said CPEC investment and its spin off effects have generated thousands of jobs. Ten thousand megawattas have been added to Pakistan's national grid, ameliorating its chronic energy shortages.

He said establishment of several Special Economic Zones  along with the highways and motorways is integral to CPEC plans.

Pakistan aims to offer tailored incentive packages for the SEZs. He expressed confidence that these zones will catalyze the development of innovation-based industries in Pakistan. APP/AFP