New phase of CPEC to ensure technology transfer to Pakistan

New phase of CPEC to ensure technology transfer to Pakistan

ISLAMABAD: Minster for Planning, Development and Reforms, Ahsan Iqbal Tuesday said cooperation in industrial sector under China Pakistan Economic Corridor (CPEC) would ensure transfer of technology, knowledge and skills to Pakistan.

"CPEC is also helping to promote knowledge based economy in Pakistan, which is the need of new age in the world," the minister said while addressing the 7th meeting of Joint Coordination Committee (JCC) of CPEC held here to review and approve various development projects in the mega development project.

Ahsan Iqbal and his Chinese counterpart jointly presided over the meeting.

Around 150 high officials from Pakistan and China attended the meeting along with the Chief Ministers of all the provinces and Prime Minister AJK.

The representatives of private sector including trader and industry chambers also participated in the meeting for the first time.

Ahsan Iqbal said that 7th JCC in Pakistan was a milestone towards realizing the CPEC and noted that people of Pakistan valued the multifaceted cooperation extended by government and people of China to Pakistan.

He said that CPEC had now entered into the first phase of its completion and 7th JCC was of historical significance to finalize the long-term plan of project.

“The long-term plan will give new dimensions to bilateral cooperation between China and Pakistan”, he believed.

Ahsan Iqbal said that long term plan would expand the scope of cooperation in various new areas including cooperation in social sectors along with the economic fields. Along with infrastructure development and upgradation, education and health sectors would also be targeted for their improvement and upgradation under CPEC.

About private sector’s representation, the minister said that it had been given to private sector in 7th JCC meeting to take on board private sector in this project, which was a game changer not only for Pakistan but for entire region.

The minister announced that both countries would organize exchange of trade and business delegations on official level to speed up the pace of project. He underlined the need for expansion in the administrative structure and scope of cooperation in CPEC.

Speaking about Gwadar, gateway of CPEC, Ahsan said that projects in Gwadar were of utmost importance for the people of area and national development. He said that CPEC’s energy projects were fast heading towards their completion.

The establishment of special economic zones would now start after 7th JCC, which is the hallmark of this project.