BEIJING: Minister of Planning, Development and Reform, Makhdum KhusroBakhtyar Thursday said that the leadership of Pakistan and China haddecided that the scope of the China-Pakistan Economic Corridor (CPEC)needed to be broadened.
“In the Joint Coordination Committee (JCC), we have already expanded thescope of CPEC by adding another dimension of social economic developmentjoint working group that will come a long way in addressing the socialeconomic development needs of people of Pakistan, especially in the areaswhich are marginally less developed, and will address poverty,” he toldChina Global Television Network (CGTN) in an interview.
He said the issue of poverty alleviation in Pakistan was the focus of thepresent government, adding, “No country in history has lifted so manypeople out of poverty than what China has exhibited in the last fewdecades.”
To a question about open up of the CPEC to other countries, he said therewas a couple of projects which could attract trilateral or collateralinvestments with different countries, or two or three different parties andit became a shared benefit for other countries to come and seek out of theCPEC.
“We are looking at potential projects which can be offered (through) thirdcountry partnership,” he added.
The minister said the potential of CPEC to be fully harnessed was that itneeded the whole connectivity all the way not just from north to south butto connect the CPEC routes, the BRI routes going from east to west.
“In the long-term framework of BRI, whilst this connectivity is puttogether, this is a potential for that economic synergy to be created. Thepotential in the long term is huge. And it’s win-win for all the countriesand all the economies in the region,” he added.
Regarding the progress on the projects and the future trajectory ofcooperation to realize CPEC’s full potential, he said the early-harvestprojects under CPEC were going as per timelines and added, “We have seenconsiderable success, especially in the energy sector.”
The minister emphasized that four or five years ago there was a gap betweenthe demand for energy in Pakistan and the supply of energy.
Under the CPEC, one of the dividends that came to Pakistan was the energydemand of Pakistan is fulfilled and the generation capacity meet the demandand the need which was industrial needs.
“Energy is one basic ingredient for any economy to grow. That’s a dividendwhich we see happening in Pakistan and there are a lot of projects in thepipeline under the early harvest in the energy sector, which will also betaken up in coming years,” he added.
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About the challenges faced by the CPEC, he said because of the geopoliticalsituation and the politics at play, there were a lot of detractors of BRIand CPEC.
“We are very clear that CPEC is putting the platform for our economicgrowth. It’s an investment in the much-needed infrastructure upgrading.Those are the foundation on which a country of 200 million people and aneconomy which can grow and achieve the potential which can only beharnessed through such an investment,” he added.
He said the portion of the government-to-government loan on the CPEC wassix billion, which had gone into infrastructure development. TodayPakistan’s total external debt was around 94 or 95 billion. “So that’s avery small portion of our external debt liabilities.”
The minister said in policy making among the political parties in Pakistan,in terms of academics and business community, there was a broad baseconsensus that CPEC was a true instrument – if well-planned and executed,could really benefit and multiply Pakistan’s economic growth.
Khusro Bakhtyar said security of the Chinese personnel working on CPECprojects was a priority for the government.
“We have structured special security division of almost more than 12,000 to13,000 people,” he added.
He said in recent past the cowardly attempt on the consulate in Karachi wasdone by the same forces which did not want to see the progress of BRI andCPEC but law enforcement agencies foiled that.
“The very next day, I went to the Chinese embassy. The Chinese ambassadorand I further resolved that such cowardly attempts only strengthen ourresolve to take CPEC to further heights,” he added.
