Pakistan is smoothly implementing plan with China: Ahsan iqbal
BEIJING: Pakistan has been smoothly applying the plan to build an economic corridor with China, despite experiencing some challenges, Minister for Planning, Development and Reform, Ahsan Iqbal said.
China has promised $57 billion in investment in projects along the China-Pakistan Economic Corridor (CPEC), part of the Belt and Road Initiative that proposed by Chinese President Xi Jinping in 2013 which aiming to link China with the Middle East and Europe.
Ahsan Iqbal said in an interview on the sidelines of the World Economic Forum in the Chinese city of Dalian, “We are smoothly implementing and we are very satisfied with the speed of the implementation.”
He said that in addition to the investment pledges from China, Pakistan would invest close to $10 billion.
He said that the economic corridor, to be completed in three phases by 2030, will boost Pakistan’s energy security and infrastructure, helping it attract more foreign investment.
Ahsan Iqbal told the forum there were some challenges to be addressed, including on coordination among different government ministries and among “internal and external stakeholders.”
He said, “There are a number of challenges which have to be addressed.”
He said, “There are actually many gaps that we have to correctly address. First and foremost is the coordination gap.”
Pakistan and China to build a network of rail, road and energy infrastructure as part of the Belt and Road initiative.
Pakistan has been one of the most enthusiastic supporters of the initiative, in part because many projects are for power plants to alleviate its energy shortage.