Pakistan eyes to boost its economy through CPEC 2nd phase: Bajwa

The China Pakistan Economic Corridor (CPEC), the flagship project of China’s ambitious Belt and Road Initiative will boost Pakistan’s economy by enhancing its industrial and agriculture output, said Chairman CPEC Authority Asim Saleem Bajwa.

Talking to the Chinese media outlet, Xinhua, Bajwa informed that the second phase of CPEC will be about job creation and increasing investment opportunities, which will be achieved through industrialization and enhancing the agriculture sector.

"We will increase our exports, and it will be a big boost to our economy. And similarly, when we go into agriculture, this is going to benefit maximum people by creating more employment and enhancing the yields of the crops of the farmers ... CPEC is a project which will eventually benefit the people of Pakistan," he said.

Bajwa informed that Pakistan intends to attract investors to setup their businesses in the nine identified Special Economic Zones, which will allow the country to increase its exports.

Talking about the Gwadar Port, Bajwa informed that freights from Afghanistan have already started coming to Gwadar port, and central Asian countries have also approached the Pakistani Commerce Ministry to let them move their freights via Gwadar.

"Gwadar port has great potential, a huge potential for trans-shipment ... It is going to open up so many avenues ... So many new companies are approaching us and the relevant ministries to start the trading via Gwadar," he said.

Whereas, the multibillion dollars Main Line-1 (ML-1) railway project will connect Pakistan with other regional countries.

"It will open up this entire region for a great economic boom. We see a very bright future and very bright prospects for CPEC. Its dividends are not only for Pakistan and its people but for the people of the entire region."