ISLAMABAD: Prime Minister Shehbaz Sharif on Monday said the difficult time is over and Pakistan and China are entering into the second phase of the green corridor.

He stated this while addressing a ceremony organised to honour the contribution of Chinese companies operating in Pakistan under the China-Pakistan Economic Corridor (CPEC).

Sharif distributed awards among the representatives of Chinese companies, adding that they have contributed towards Pakistan’s industrial promotion which not only led to job opportunities and industrial production but further strengthened ties.

‘New model’ to characterize 2nd CPEC phase

The prime minister said that US$30 billion investment was made in Pakistan under the CPEC after the signing of the CPEC. He added that Pakistan and China are entering into the second phase of CPEC and green corridor, innovative corridor, information and technology (IT) corridors as well as Special Economic Zone (SEZ) Rashakai would be undertaken in different modes.

He said that the Special Investment Facilitation Council (SIFC) is a great imitative of the government of Pakistan with stakeholders of federal and provincial governments, Institutions, and particularly with an important role of the Chief of Army Staff (COAS). Shehbaz Sharif said that the SIFC would dovetail with the CPEC in the second phase which would be a propeller for industrial and agricultural growth in the country.

He said that Chinese companies have done a great job in a difficult time and those times are over and we are entering into the second phase of cooperation, streamlining procedures under a one-window operation. He also thanked China for providing support with regard to the revival of the International Monetary Fund (IMF) programme.

Copyright Business Recorder, 2023