ISLAMABAD: Federal Minister for Planning, Development and Reforms Ahsan Iqbal has said that $45 billion worth China-Pakistan Economic Corridor (CPEC) will help the country join top 25 economies of the world.
During a panel interview to the state-owned news agency, Ahsan Iqbal said that the CPEC will be inaugurated by the Chinese President during his upcoming visit to Pakistan. He said that the PML-N government is trying its best to improve the country’s economic growth to around eight per cent from current 4.5 per cent, making Pakistan a hub of geo-economic, trade and investment destination.
He said that under $45 billion project, China would invest $34 billion in energy sector in Independent Power Producer (IPP) mode and the rest $11 billion would be soft-term concession loan that would be used for infrastructure development including Gwadar Port, Karakorum Highway and construction of Multan Sukkur Motorway.
Ahsan pointed out that the project was not against any country rather it would herald new economic opportunities in the region particularly South Asia, Central Asia, China and the Middle East.
Ahsan Iqbal further stated that China is carrying out massive development activities in its western belt and the economic corridor would ensure the shortest trade route between Gwadar and Khun rab. He said that the multi-billion dollar project would not meet success without peace and stability.
The minister said, “Prime Minister Muhammad Nawaz Sharif has already directed Chief of Army Staff General Raheel Sharif to raise a special force to provide security cover exclusively to the Chinese workforce working in Pakistan.”
“The Chinese workers would be nation’s guests. We should host them without letting them feel any insecurity,” he remarked strongly negating the negative propaganda by opposition parties against the economic corridor project.
The minister said that some political parties were propagating against the economic corridor project out of hatred against the incumbent government.
“What impression they will give to China. They are trying to sabotage the Chinese investment. We must be thankful to China for investing here despite security situation in the country,” he said.
He said Sino-Pak ties were exemplary as both the countries supported each other through thick and thin. He said that China-Pakistan friendship is said to be higher than Himalayas, deeper than the ocean and sweeter than the honey.
To another question, the minister said that during the visit of Chinese President, wind and solar power projects would also be kicked off to rid the country of energy crisis. He regretted that during past 15 years no significant power project was initiated and the transmission line load of 1500 MW was not enhanced.
The government was not only increasing the existing transmission line load but also developing the coal and LNG based power generation for provision of cheap electricity to the people across the country, he added.
Government, he said, was developing Thar coal project for cheap electricity with the help of China, which would open up an era of prosperity for the poverty-stricken people of Thar in Sind province.
