ANL 34.12 Increased By ▲ 0.02 (0.06%)
ASC 14.80 Increased By ▲ 0.40 (2.78%)
ASL 24.32 Decreased By ▼ -1.18 (-4.63%)
AVN 91.22 Increased By ▲ 4.67 (5.4%)
BOP 7.79 Increased By ▲ 0.08 (1.04%)
BYCO 10.21 Decreased By ▼ -0.02 (-0.2%)
DGKC 121.50 Decreased By ▼ -0.50 (-0.41%)
EPCL 55.15 Decreased By ▼ -1.45 (-2.56%)
FCCL 24.24 Increased By ▲ 0.49 (2.06%)
FFBL 28.10 Increased By ▲ 0.15 (0.54%)
FFL 16.16 Increased By ▲ 1.01 (6.67%)
HASCOL 9.50 Increased By ▲ 0.14 (1.5%)
HUBC 77.70 Decreased By ▼ -0.17 (-0.22%)
HUMNL 6.47 Increased By ▲ 0.17 (2.7%)
JSCL 20.40 Increased By ▲ 0.55 (2.77%)
KAPCO 40.00 Increased By ▲ 0.55 (1.39%)
KEL 3.82 Increased By ▲ 0.04 (1.06%)
LOTCHEM 15.90 Decreased By ▼ -0.05 (-0.31%)
MLCF 46.15 Decreased By ▼ -0.25 (-0.54%)
PAEL 35.90 Increased By ▲ 1.25 (3.61%)
PIBTL 10.15 Decreased By ▼ -0.04 (-0.39%)
POWER 9.14 Increased By ▲ 0.01 (0.11%)
PPL 85.20 Increased By ▲ 0.20 (0.24%)
PRL 24.30 Increased By ▲ 0.25 (1.04%)
PTC 9.50 Decreased By ▼ -0.11 (-1.14%)
SILK 1.45 Increased By ▲ 0.05 (3.57%)
SNGP 41.40 Increased By ▲ 0.17 (0.41%)
TRG 165.01 Increased By ▲ 11.91 (7.78%)
UNITY 32.65 Increased By ▲ 2.00 (6.53%)
WTL 1.73 Increased By ▲ 0.04 (2.37%)
BR100 4,872 Increased By ▲ 49.63 (1.03%)
BR30 25,586 Increased By ▲ 447.01 (1.78%)
KSE100 45,400 Increased By ▲ 486.21 (1.08%)
KSE30 18,533 Increased By ▲ 170 (0.93%)

Coronavirus
VERY HIGH
Pakistan Deaths
16,600
14824hr
Pakistan Cases
772,381
549924hr
Sindh
274,196
Punjab
276,535
Balochistan
21,127
Islamabad
70,984
KPK
108,462
Business & Finance

CPEC a 'win-win' for both Pakistan, China: Faraz

  • Faraz said that the promotion of CPEC is in the best interest of Pakistan as it is a Win-Win situation for both countries.
Updated 25 Nov 2020

Federal Minister for Information Shibli Faraz has said that the second phase of the China Pakistan Economic Corridor (CPEC) will focus on industrialization, agriculture modernization, and socio-economic development.

“The China Pakistan Economic Corridor (CPEC) has made remarkable progress in its first phase that is 2015 to 2020. The majority of the projects planned in the transportation, infrastructure, and energy sectors have been carried out successfully and many are in their execution stage,” said Faraz while addressing a ceremony in connection with CPEC in Islamabad.

“The second phase 2021 to 2025 will further focus on industrialization, agriculture modernization, and socio-economic development. The purpose is to reap the dividends of the investment made in the first phase that has created an enabling environment for investment,” he added.

The minister informed that agriculture and science and technology Joint Working Groups (JWGs) are being established in the year 2020 that would add to the existing JWGs in the field of energy, infrastructure, industrial cooperation, etc.

“Projects in the existing and the newly established areas have the capacity to ultimately improve the economic competitiveness of the country,” he said.

Addressing the seminar, Minister for Science and Technology Fawad Chaudhary said the CPEC has a huge future, saying that Pakistan has become an attractive market for Chinese investors.

The Minister said that under the CPEC, eleven special economic zones are being established which will promote industrialization in the country. He said we plan to uplift our semi-conductor industry and bring value addition to our products with the cooperation of Chinese industries.

The Minister said we have approached the Chinese companies to shift their solar panel manufacturing units to Pakistan.

Faraz added that the promotion of CPEC is in the best interest of Pakistan as it is a Win-Win situation for both countries. “It is indispensable to counter the negative propaganda aimed at undermining the success of the project and bilateral ties. The benefits of CPEC would reach the grass-root level and would benefit the Pakistan populace,” he said.