Islamabad: The projects initiated under China-Pakistan Economic Corridor (CPEC) will be completed by 2030 and China is providing full support and cooperation to Pakistan for the completion of these projects by that time.
This was stated by Federal Minister for Planning and Development Dr. Ahsan Iqbal while addressing a ceremony here on Monday to launch the Long Term Plan of CPEC projects in Pakistan. The Long-Term Plan for CPEC was released by Minister Planning Ahsan Iqbal and Chinese Ambassador Yao Jing jointly at the ceremony held here today.
The Minister speaking on the occasion said work on the CPEC projects is continue with a good pace and hopefully, all these under progress projects will be completed by 2030.
Ahsan Iqbal said China is investing US dollars 56 billion for the CPEC projects, and more than US dollars 27 billion has been invested on the ongoing projects while more funds are being provided by China by some other projects which will be utilized on other projects.
He said roads, energy projects, improvement of railway, construction of bridges and Gwadar are the important projects being constructed under CPEC with Chinese financial and technical support.He said through various projects of the CPEC, difficult routes in the country are being improved and making safe routes with the improvement of the existing roads and with construction of new roads. He said besides the improvement of the present railway system, some new railway lines are being added to the railway system of the country.
He said the CPEC is a symbol of friendship and cooperation between Pakistan and China and it will prove a long lasting step in further cemented the bilateral ties between the two countries.Ahsan Iqbal said former Prime Minister Nawaz Sharif visit China in 2013 soon after taking oath and taking over the government and started discussion in improving cooperation between Pakistan and China.
“We should follow the example of progress and prosperity of China,” he added.
Being close friend of Pakistan, China provided a chance to Pakistan through CPEC for the development and progress of Pakistan, he said.
He said when the government took the charge in 2013, Pakistan’s economy was in very bad shape and international financial organizations were talking about Pakistan’s economic collapse but with the vision of Nawaz Sharif, the country had made tremendous progress in all the fields especially in economic sector. He said former Prime Minister Nawaz Sharif signed CPEC with China which will be fate changer for the region.
He said following the start of projects under CPEC and with huge Chinese investment in Pakistan, now the foreign investors are also satisfied with the performance of Pakistan and they are investing in various fields in Pakistan
Referring to importance of Gwadar, Ahsan Iqbal said it is one the most important project being completed by the support of China and added that it is being linked with Quetta through a modern road. He said the present traveling time between Gwadar and Quetta will be reduced from 40 hours to just eight hours.
He said Pakistan and China have very cordial relations and engaged in Long Term Strategy ties. He said present government made sincere efforts to engage China in long term development projects in Pakistan as all the previous governments failed to utilize Chinese investment in Pakistan.
He said the CPEC is symbol of friendship between Pakistan and China and it will further enhance all weather friendship into a strategic relationship. He said China has proven most trusted friend of Pakistan and during the time of external and internal crisis, China was the only country to support Pak and launched the game changer project of CPEC.
The Long Term Plan for CPEC is a plan approved by both the governments; Pakistan and China and will reflect the national and local plans of both the countries.
The Chinese Ambassador to Pakistan Yao JIng while addressing on this occasion China will continue its full support and help to Pakistan in the completion of the projects under CPEC.
He said Pakistan and China are very cordial relations based on mutual respect, mutual cooperation and these ties are trustworthy. Under the LTP of CPEC, the projects under progress will be completed while many new projects will be initiated very soon and all these projects will be completed by 2030.