ISLAMABAD: Federal Minister for Planning, Development and Reforms Ahsan Iqbal has the present government broke the status quo and started a new chapter of Pak-China relations by signing the China-Pakistan Economic Corridor (CPEC) framework for the economic uplift of the country.
Addressing a seminar on ‘Iron Brotherhood’, organised by the Ministry of Information, Broadcasting and National Heritage here, Ahsan observed, “Unfortunately, the past regimes didn’t focus on this aspect and threw the country into fire by entering into strategic alliances with the world powers.”
Terming CPEC a milestone in 65-year history of Pak-China relations, which, he said, had transformed their geo-strategic relations into geo-economic ties, the minister said, “The CPEC is not only a bilateral project; rather it would connect this region with the rest of South Asia and Central Asia.”
He predicted that 21st century belonged to Asia, which would increase its share in global economy from $17 trillion to $174 trillion by 2025.
Terming CPEC a fusion of two visions, Vision-2025 and One Belt One Road, he said that strong commitment of China and Pakistan to the project was reflected from the fact that MoU on it was translated into a $46 billion portfolio investment within a year.
“It also made China the top foreign investor in Pakistan. “It is tip of an iceberg and more Chinese investment would come in the coming years,” the minister hoped. He said that Pakistan would play the role of a bridge between the land and sea, while China would utilise this opportunity to reach markets in Europe and Africa. “The Gwadar seaport would be developed at a cost of $1 billion,” he said, adding: “A new airport and roads connecting the port with the highways are being constructed.”
He said that out of $46 billion investment under the CPEC, $35 billion had been earmarked for overcoming the energy shortage. The minister said that 70 percent of passengers and cargo used the Peshawar-Karachi road, and the construction of Peshawar-Karachi motorway would enhance efficiency and cut down the transportation costs.
He said the government was focusing on modernizing the railways by upgrading its track, signals, locomotive and bogies.
“The speed of passenger trains would be enhanced from existing 80 km to 160 km after upgradation in next four years,” Ahsan informed and added, “The railways freight service has been revived which will help reduce the transportation costs.”
Chinese Ambassador to Pakistan Sun Weidong, in his address, said, “Pak-China friendly relations have endured test of times during the past 65 years. The brotherhood between the two nations is based on sincerity, affection and justice.”
He said both the countries always regarded each other as equal partners and respected each other’s independence, sovereignty and territorial integrity.
