CPEC will change the fate of this region: PM

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Islamabad : Prime Minister Nawaz Sharif on Monday stated that the China-Pakistan Economic Corridor (CPEC) is the most important economic initiative for South Asia in the 21st century.

Addressing the inaugural session of the two-day CPEC Summit and Expo in the capital, the Prime Minister said by working together we can bring peace and stability in the region through economic development for our people. CPEC would be a game-changer for Pakistan and would serve as a gateway to Pakistan, China and other countries in the region.

Prime Minister Sharif said CPEC is not merely a strategic agreement, but culmination of a decade-long friendship between Pakistan and China. “Our relations with China are of the utmost importance,” the premier said, adding that the benefits from CPEC would be vast and permanent.

He said that investments worth $35 billion are being carried out in the energy sector to solve the country’s energy problems. Majority of the energy projects would be completed in 2018, he added.

Nawaz Sharif  said the two sides never left each other in times of distress and recalled Chinese assistance to Pakistan following the devastating earthquake in 2005 and floods in 2010.

He said the economic value of the project was US 46 billion dollars, however added that the real impact is many times more and would have a longer lasting effect. More than ten billion will be engaged in roads way projects as well as rail infrastructure of Pakistan. Around 35 billion dollars will be invested in Pakistan’s energy sectors under CPEC, PM Nawaz added.

The Prime Minister said the project would benefit all regions of Pakistan and equally benefit Gilgit Baltistan, remote areas of Khyber Pakhtunkhwa, Balochistan. He said US 35 billion dollars would be invested in energy sectors alone to produce 10400 MW of electricity. It would help the growth of Pakistan’s economy.

The event was attended by Minister for Planning Ahsan Iqbal, Advisor to Prime Minister on Foreign Affairs Sartaj Aziz, Chairman Parliamentary Committee on CPEC Mushahidullah Khan, Chinese ambassador to Pakistan Sun Weidong and leading industrialists, ambassadors, businessmen.

The Summit held here at the Pakistan China Friendship Centre was hosted by Ministry of Planning, Development and Reform and marks the inking of historic US$ 46 billion CPEC programme. The Prime Minister earlier inaugurated the expo.

Source : Online

 

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