10 years of CPEC: PM Shehbaz says project has transformed country’s economic landscape

Prime Minister Shehbaz Sharif said on Wednesday that China-Pakistan Economic Corridor (CPEC) has gathered momentum unheard of in Pakistan’s economic history.

Addressing an event on the completion of 10 years of CPEC, the PM said the initiative, with the complete support of the Chinese leadership, has transformed Pakistan’s economic landscape.

He regretted that CPEC was obstructed for four years, and baseless allegations were leveled against China.

CPEC: An ongoing journey

He expressed hope that CPEC will again kickstart growth in various sectors including agriculture and IT, as well as encourage special economic zones.

The PM said that China was there for Pakistan in very difficult times when Pakistan was striving for the International Monetary Fund (IMF) agreement.

He said Pakistan will not default, adding that it was time to work hard and bring the country back to prosperity.

He said he was hopeful that the $3 billion nine-month bailout would be approved by the lender’s board when it meets on July 12.

The PM also congratulated the leadership and people of the two countries saying that the neighbors are iron brothers, and ‘‘CPEC is a new chapter in this time-tested and evergreen strategic cooperative partnership’’.

PM Shehbaz said that the Belt and Road Initiative is a manifestation of President Xi Jinping’s philosophy of peace, friendship, economic partnership and coexistence.

Last month, the PM had met Chinese Premier Li Qiang wherein the two sides agreed to celebrate the decade of CPEC this year to showcase its success.

Expressing satisfaction at the steady development of CPEC projects in Pakistan, the two sides agreed on CPEC’s centrality for Pakistan’s socio-economic development and expressed their firm commitment to continue working together for realizing its shared objectives for the two countries.