CPEC projects transforming Pakistan’s economic landscape

Ahsan Iqbal, Dan DAI review CPEC projects construction, operation

Says CPEC projects transforming Pakistan’s economic landscape

 

BEIJING: Assistant General Manager of Business Development and Client Services Department, China Export and Credit Insurance Corp. (SINOSURE), Dan DAI called on Minister of Planning, Development and Special Initiatives, Prof Ahsan Iqbal Chaudhary here in Beijing.

The two sides exchanged views about the construction and operation of the China-Pakistan Economic Corridor (CPEC) projects and agreed that they would continue to spare no efforts to support the CPEC projects.  The minister arrived in the Chinese capital yesterday to hold important meetings with the Chinese authorities after attending the Boao Forum for Asia (BFA) annual conference 2023 held in Hainan, China.

Minister for Planning, Development and Special Initiative, Ahsan Iqbal Chaudhary has said that Pakistan, through China-Pakistan Economic Corridor (CPEC) energy projects, has been able to overcome its energy shortage, and the people will never forget Chinas assistance in this regard.

He also expressed appreciation for Chinas positive and key role in helping to normalize relations between Saudi Arabia and Iran. “This will give great impetus for regional peace and trade,” he said. Ahsan Iqbal is currently in Beijing after attending the Boao Forum for Asia (BFA) Annual Conference 2023 which ended on March 31, Global Times reported on Tuesday. During his time in Beijing, the minister had in-depth conversations with representatives of Chinese enterprises and think tanks. He told representatives of Chinese companies that he appreciated the contribution of Chinese firms in the success of the CPEC.

Pakistan is also eyeing solar energy investment, he said, and the government has announced a special initiative for it.  He stressed that the CPEC plays an important role in facilitating modernization of infrastructure in Pakistan and the projects contribute to the country’s socio-economic development. In the meetings with enterprise representatives, the minister assured them that Prime Minister Shehbaz Sharif is personally supervising the progress of CPEC projects and the new government is committed to maintaining the same speed of development seen with the CPEC from 2013-18.

Ahsan Iqbal also highlighted the special friendship and iron brotherhood between China and Pakistan, which he said is time-tested and timeless. He said he hoped to enhance people-to-people contacts to further explore the rich history and cultural heritage in both countries, as well as their natural beauty. During his stay in Beijing, he also met with representatives of leading Chinese think tanks on Sunday. He told them that the CPEC early-harvest projects have transformed Pakistan’s economic landscape, laying solid foundations for sustainable economic growth.

The minister emphasized that both China and Pakistan should “continue to expedite efforts to achieve Gwadar’s potential as a hub of regional commerce and industry, while also prioritizing work on ML-1 and other key energy projects.” China has become Pakistan’s largest investment and trade partner in the last 10 years due to the CPEC, and both sides are keen to maintain the momentum of overall economic and trade ties in future as well, he said. “The next phase of the CPEC envisages industrial cooperation and business to business links,” he said.

He also underscored the need to learn from Chinese experience of export sector development, as a permanent solution to Pakistan’s economic crisis lies in fast and speedy growth of exports.

Moreover, Minister of Planning, Development and Special Initiatives, Ahsan Iqbal Chaudhary Tuesday appreciated Energy China longstanding partnership with Pakistan and carrying out many important projects under China-Pakistan Economic Corridor (CPEC) for enhancing Pakistan’s energy infrastructure.

During a meeting with the Chairman of Energy China International Group, Lyu Ze Xiang who called on him here at the embassy, the minister said that these projects included Neelum-Jhelum Hydro-power Plant, Karachi K1/K3 Nuclear Power Stations, Jamshoro and Hub Coal-fired power plant and Jhimpir Wind Farm.

The Minister underscored the importance of these energy projects which have enabled Pakistan to overcome its energy shortages and said that the people of Pakistan will never forget this critical support from China.

Ahsan Iqbal was pleased to note that “Energy China” was building its regional headquarters in Islamabad and was interested to invest in setting up 1.8 GW solar generation plant.   He briefed them about the Prime Ministers “solar energy initiative” of producing 10,000 MW of solar energy for which foreign investors would be given special incentives.

The Minister invited Energy China to benefit from this new policy and also consider building a manufacturing facility of solar power equipment in Pakistan. He assured “Energy China” of the government’s full support and facilitation and extended an invitation to Chairman Lyu to visit Pakistan for further discussions on the proposed projects.

Chairman, Lyu Ze Xiang appreciated the contributions of the Minister for the high-quality development of CPEC and his support to Energy China projects in Pakistan.  He assured the Minister of Energy Chinas long term interest in Pakistan and investing in energy sector including solar.

In a bid to provide economical means of transportation to Pakistani students studying in China, Minister for Planning, Development and Special Initiatives Prof Dr Ahsan Iqbal has said that the government is taking measures to restore bus service between the two countries through the Khunjerab Pass.

“We have requested the Chinese authorities to resume the bus service through this route. And I think this will be very beneficial for the Pakistani students who are studying in China,” he said on Tuesday.

As regards the reopening of the Khunjerab Pass on April 3, the minister said it was a very positive development after three years.

“We are very excited over the reopening of the border crossing between the two all-weather friends, ” he said, expressing confidence that the trade between Pakistan and China would also resume through the land route.

He hoped that the Khunjerab border facility would be upgraded by both sides so that it could remain open for 12 months and become an all-weather facility.

About the impact of the opening of border crossing on the China-Pakistan Economic Corridor (CPEC) and bilateral trade, he said it was good news for the CPEC projects.

“And, it is also good news for Pakistan-China bilateral trade, and business and particularly people in Gilgit-Baltistan as they will greatly benefit from local trade through this border post,” he added. Agencies