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- Mushahid says CPEC cannot be slowed down
ISLAMABAD – Chinese Ambassador Yao Jing Sunday said that China, Pakistan Economic Corridor (CPEC) is being accelerated and in its second stage 17 out of 27 identified projects in the new phase are being put on a fast track.
“Those critics who thought CPEC was slowed down must know that the CPEC is on track. Rather, we are putting 17 out of 27 projects on a fast track in the new stage of CPEC. Moreover, ML-I project is also on track,” the ambassador said while addressing the participants of Friends of Silk Road Forum held here under the aegis of Pakistan, China Institute.
Mushahid Hussain Sayed moderated the forum which was also addressed by several participants. Ambassador Yao Jing said that in new stage of CPEC, China would be setting up six agricultural demonstration centers and 50 schools for tribal areas and clean drinking water facilities would be provided.
“We are going to locate five model villages to improve community building to help eradicate poverty per Prime Minister Imran Khan’s vision in the second stage of the CPEC. Both sides have to work hard to fast track these projects by removing hurdles and impediments. We are expanding FDI investments into CPEC,” said the Ambassador.
He said the agricultural cooperation is a major boost as both Pakistan and China are agricultural countries. “We will try to add more value to Pakistani agricultural products. More Chinese companies would come to Pakistan in future for agriculture investments. The first-ever agricultural expo would be held in Pakistan in October-end and Chinese companies would attend it with their industrial products, he added.
Senator Mushahid Hussain Sayed said that CPEC is on track and no one can slowdown the multi-billion-dollar project.
“CPEC is successive and continuing process of mutual cooperation. It is logical and suitable. The focus of diplomatic relationship has been shifted to economic cooperation,” he said. Mushahid said the government is working with Pakistan for developing Special Economic Zones (SeZs).
“We are trying to engage to build up manufacturing capacity and industrial development to boost exports. It is positive to note that the world is recognizing Pakistani economic development. The government is doing lots of efforts to reform ease of doing business and structural reforms,” he added.
Minister for Planning and Development Makhdoom Khurso Bakhtiar said that Rs 20 billion have been earmarked in next year’s PSDP for provision of utitiles for SeZs. He said 80 percent of Pakistan’s energy needs would be met through CPEC energy projects in the next five years.
“In new phase of CPEC, we have a big portfolio in steel, meat, railway network transformation. We are confident that ML-I would be given high priority in our development agenda and our finances are enough to meet ML-I development,” he added. Hassan Daud Butt said that the public sector organisations of Pakistan have learnt a lot through the CPEC. He said 11,000 megawatts of energy would be added while ML-I would be a key project in the second phase of CPEC.
Fareena Mazhar, Executive Director General BoI, said that Belt and Road Initiative is covering the third of world population. “Pakistan is a country with ample opportunities and over 1000 foreign companies are working here. Progress on nine SeZs has not been as expected due to non-supply of electricity and gas”.
She said Dhabeji, Rashakai, Faisalabad SeZs will be provided gas and electricity from PSDP funding. Minister Planning has agreed to it.
“There is no cap on repatriation of profits to investment countries. Pakistan is doing a lot in ease of doing business. Pakistan came among top 20 states with reforms in ease of doing business. We encourage Chinese investors to come and invest in Pakistan and a special CPEC unit has been set in BoI and Chinese speaking hosts are there to help and assist the Chinese investors. Since Chinese are relocating their businesses to other locations, we hope that Pakistan would be their best option,” she added.
CEO of Chinese company CRBC gave a detailed briefing on the Rashakai Special Economic Zone. He said the zone is being developed in three stages with US$130 billion.
A student from a school constructed by China Port Holding Company in Gwadar gave a presentation on the performance of the school. She expressed gratitude to the government of China for investing in girls education in Gwadar. Ambassador Masood Khalid shared his views on Chinese assistance and help on the diplomatic forums and CPEC.
