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CPEC Phase II: High-quality Modernization Of Economy To Be Achieved With Help Of China's Technological Assistance: Ahsan Iqbal
Sumaira FH Published December 18, 2024 | 11:09 PM
Federal Minister for Planning, Development and Special Initiatives, Prof Ahsan Iqbal said on Wednesday that with China Pakistan Economic Corridor (CPEC) entering into the second phase, the present government is aiming to go for high quality modernization of Pakistani economy with the help of China's technological assistance
BEIJING, (APP - UrduPoint / Pakistan Point News - 18th Dec, 2024) Federal Minister for Planning, Development and Special Initiatives, Prof Ahsan Iqbal said on Wednesday that with China Pakistan Economic Corridor (CPEC) entering into the second phase, the present government is aiming to go for high quality modernization of Pakistani economy with the help of China's technological assistance.
"We hope that this new phase of CPEC will now establish greater collaboration between people to people and business to business on the foundation that has been laid in the first phase," he said during a media interaction here.
He highlighted that the second phase will have five corridors, a corridor of growth, a corridor of livelihood, a corridor of innovation, a corridor of green economy and a corridor of open and inclusive development in the region that will bring different countries together.
Similarly, Pakistan has a 5Es Framework - Export, E-Pakistan, Environment, Energy, Equity and Empowerment for its economic development, he added. Terming it a very comprehensive framework, he said that Pakistan 5Es aligns with the five corridors outlined under President Xi Jinping vision for the second phase of CPEC.
He remarked that it also shows that how China and Pakistan think alike, and this positive synergy between the five corridors and the 5Es will help Pakistan achieve its development goals.
"And with this development, we will be able to bring more stability in the region."
Ahsan Iqbal appreciated the Chinese sharing of their success and experiences and technology with Pakistan to enable Pakistan to develop fast. This development will not only be bilateral, but it will also create opportunities in the region.
"So, through development and prosperity, we seek greater peace and stability in the region," he added.
Highlighting achievements in the first decade of CPEC, he said that Pakistan has greatly benefited with very valuable Chinese assistance and investment and energy sector that has helped us to produce 8000 megawatts of additional energy to help us overcome the energy crisis that we were facing in 2013-14.
With the help of CPEC, Pakistan has built modern highways and motorways that have connected different regions for more economic activity.
"We have also laid down a fiber optic cable that is an information highway, connecting Pakistan and China and strengthening Pakistan's digital backbone," he added.
About Gwadar Port, he said that it is now emerging as a new smart port in the region, and holds immense potential to become the new source of trade in the region by linking Arabian Sea and Indian Ocean, with the west of China and providing shortest land route to West China.
