CPEC Phase 2 fueling Pakistan’s economic boom: Ahsan Iqbal

ISLAMABAD, Jun 11 (APP):Federal Minister for Planning, Development, and Special Initiatives, Prof. Ahsan Iqbal, said on Tuesday that Prime Minister Shehbaz Sharif’s recent visit to China was a significant step in bolstering Pakistan and China’s long-standing friendship and strategic alliance.
Talking to a private news channel, he said that major agreements were reached to expedite the second phase of CPEC, with a focus on job creation, innovation, green energy, and inclusive regional development.

“CPEC was now in its second phase, focusing on industrialization and the establishment of Special Economic Zones (SEZs) like the Allama Iqbal Industrial City in Faisalabad,” he said.
Ahsan Iqbal said that the second phase of the China-Pakistan Economic Corridor (CPEC) was pivotal for Pakistan’s economic development.
In this phase, five new corridors were announced, including the Corridor of Growth, Livelihood, Innovation, Green Corridor, and a Regional Cooperation Open Corridor to work on, he added.
The 5Es framework will be implemented, including Export, Energy, Equity, E-Pakistan, and environment, aiming at growth, livelihood, innovation, green development, and regional cooperation, he said.

He said that creating safe investment environments and a dependable energy supply was important to draw in foreign investors and set Pakistan up for an industrial revolution with China’s help.
He highlighted the significant benefits of the CPEC and said that one of the most notable achievements is the installation of 8000 megawatts of electricity, which has helped alleviate the load-shedding issue in Pakistan.
Moreover, CPEC has contributed to the creation of over 230 thousand jobs and has facilitated significant progress in infrastructure, connectivity, and socio-economic projects across Pakistan.

He emphasized China’s cooperation with Pakistan across various sectors, including mining, IT, energy, and others.
He further said that the government was strongly emphasizing investments on a business-to-business basis to foster closer collaboration between Pakistani and Chinese enterprises.
He further said that to enhance bilateral trade and investment opportunities, more than 150 leading businessmen from Pakistan toured with us and participated in one-on-one meetings with over 250 business companies in China.
Furthermore, in the agricultural sector, efforts were underway to leverage Chinese technology to boost productivity and efficiency in Pakistan’s agriculture industry, he added.

Regarding security concerns for Chinese nationals at work on projects here, the minister assured that it remains a top priority for both countries’ leadership.
He affirmed that measures have been taken to enhance security, including the installation of Safe City projects to monitor effectively.
Critiquing the previous PTI government’s approach towards CPEC, he said that Imran led government stopped the project’s initiated during the PML-N government.
He criticized PTI’s leadership for making irresponsible statements against CPEC. However, he affirmed the current government’s commitment to restoring confidence and resuming work on CPEC projects, including those in Gwadar.