ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal said that after steering the country out of default danger, the government is now working on its recovery while expediting the China-Pakistan Economic Corridor (CPEC) projects.
He made these remarks while speaking at a high-level dialogue, “CPEC-Green Development” organised by Sustainable Development Policy Institute (SDPI) on Thursday.
Chinese Ambassador to Pakistan Nong Rong was also present at the occasion.
He said that the upcoming projects between Pakistan and China would be based on the green economy and in energy sectors as the present government is planning for renewable energy projects.
He said that as per President Xi’s vision of the CPEC, Pakistan is ready to prioritize those projects which favour and promote the green economy. He added that the environment and climate change are important sectors as these are creating impacts worldwide. Despite our low carbon footprint, we are still one of the most vulnerable to the climate crisis, he added.
The minister said that the iron brother country has been supporting infrastructure development in Pakistan since President Xi Jinping during his visit announced to invest $46 billion under the CPEC in 2014.
He said this agreement was followed by an investment inflow of $29 billion in the same year. These investments proved instrumental for CPEC and supported development of infrastructure such as road networks and introduced alternative energy sources in the country.
He said that the government is reinvigorating to complete the development of nine Special Economic Zones in Pakistan and moving to strengthen industrial cooperation. He termed political stability, social solidarity and continuity of policies as the prerequisites for socio-economic progress and prosperity. He said that creating an enabling environment for business-to-business relations is key to attracting and availing foreign investments in the country and re-emphasized the government’s commitment to fast-track green development projects under the CPEC.
He added that in April 2014, when President Xi visited Pakistan, $46 million worth of cooperation agreements were signed and the entire world began to look at Pakistan as a potential investment destination.
However, he said that it was unfortunate that during the last four years not a single CPEC project was completed. We are now trying to fast track this initiative particularly the construction of industrialization zones which were shelved by the previous government, stated the minister.
He said political stability, social solidarity, and continuity of policy are important pillars for achieving development and progress for any country. He said that the government will complete all the CPEC projects without any further delay.
Copyright Business Recorder, 2022