ISLAMABAD: Minister for Planning, Development and Reform Khusro Bakhtiar has rejected the statement of PML-N leader Ahsan Iqbal regarding cut in finance bill of China-Pakistan Economic Corridor (CPEC).
Talking to a private news channel on Monday, he said CPEC is a long term plan having great potential for economic growth of Pakistan.
The Minister said the government wants investment of other countries in the CPEC including Germany, Japan and Korea. He said the prime focus of the government is to revamp economy, create employment opportunities and boost manufacturing base in the country.
In April 2015, China had announced mega development projects in Pakistan worth $46-billion under CPEC project, which focuses on road building and energy infrastructure to end chronic power shortages in Pakistan and to link China’s landlocked north-west with the deep-water port of Gwadar on the Arabian Sea.
The plan, which would eclipse U.S. spending in Pakistan over the last decade or so, is part of China’s aim to forge “Silk Road” land and sea ties to markets in the Middle East and Europe.
The two sides had also agreed to strengthen cooperation in civil nuclear energy, space and maritime technology, counter-terrorism and defense.
Meanwhile China will also expand industrial capacity cooperation in diverse sectors including chemical, pharmaceutical, engineering, agro, iron and steel. The two countries will also increase exploration and development of resources.
Under CPEC, a number of new economic zones will be created along the corridor.
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