PM Shehbaz hopes CPEC’s second phase to spur ‘development, prosperity’

ISLAMABAD: Prime Minister Shehbaz Sharif has expressed optimism about the second phase of the flagship China Pakistan Economic Corridor (CPEC).

Addressing a ceremony held at the Jinnah Convention Centre to celebrate CPEC’s10th anniversary, the prime minister emphasized that “this phase would bolster investment, progress, and prosperity not only for Pakistan but also for the entire region”

Prime Minister Sharif outlined the focus of the second phase, which aims for high-quality development by establishing a growth corridor, completing special economic zones, and fostering industrial and green corridors.

Additionally, the Prime Minister emphasized the importance of openness and connectivity in this phase, according to APP.

He further hoped that this corridor of North and South would eventually expand to include the entire region and various parts of the world.

The prime minister commended the progress made in Gwadar, which has transformed into a bustling city with immense potential for the future. CPEC is set to make Gwadar the busiest trade hub in the region, and the government is fully committed to its development, with initiatives in place to ensure the availability of resources, power, and drinking water.

Prime Minister Sharif stressed that CPEC has been pivotal in turning around Pakistan’s economy through multiple programs and initiatives.

He expressed gratitude to the Chinese leadership for their unwavering support during critical times, including financial assistance and loan roll-overs.

However, the Prime Minister also emphasized the need for Pakistan to move away from borrowed loans and aid, aiming to stand on its feet and demonstrate the nation’s strength and capabilities in overcoming challenges.

The ceremony was attended by Chinese Vice Premier He Lifeng and a delegation from China, along with parliamentarians, chief ministers, senior officials, and relevant authorities.

Prime Minister Sharif expressed his appreciation for the enduring friendship between Pakistan and China, which dates back to China’s independence in 1949.

He acknowledged the significant contributions made by various Pakistani leaders in fostering this strong bond of friendship.

Prime Minister Shehbaz Sharif also highlighted the joint working groups established to enhance cooperation between the two countries in various fields, aiming for mutual benefits and progress.

Chinese Vice Premier He Lifeng

In his remarks, Chinese Vice Premier He Lifeng praised the CPEC as an example of mutual trust and common development between China and Pakistan.

He emphasized how CPEC had become a corridor of progress and prosperity, leading to substantial investments and numerous job opportunities.

Both countries remain committed to high standards in CPEC projects during the second phase and plan to continue working together in various sectors, including IT, agriculture, training, and special zones ventures.

Read more: CPEC’s 10th anniversary to be marked in simple manner

He Lifeng underscored how CPEC had significantly improved the lives of ordinary Pakistanis and fostered a strong friendship between the two nations.

He said that despite the challenges posed by the Covid-19 pandemic, the cooperation between workers from both countries had ensured smooth progress and transformed the vision of CPEC into a reality.

The Chinese Vice Premier reiterated China’s support for peace, stability, and the sovereignty of Pakistan, further deepening the relationship between the leadership and people of both nations. CPEC continues to be a driving force for growth and prosperity, exemplifying the spirit of mutual cooperation and friendship.

Chinese Vice Premier He Lifeng Visits Pakistan:

Chinese Vice Premier, He Lifeng, is currently on a three-day visit to Pakistan. During his visit, Pakistan and China signed six agreements and MOUs to promote bilateral cooperation.

Prime Minister Shehbaz Sharif stated that these documents aim to further enhance economic relations between the two countries.

Read more: CPEC projects attracted $25.4 billion of direct investment

The signing ceremony was witnessed by both leaders, further cementing the bond of friendship and cooperation between China and Pakistan, ushering in a new chapter in their bilateral relationship and fostering regional development.

Chinese Vice Premier He Lifeng has arrived in Pakistan on a three-day visit.

Earlier, Pakistan and China signed six agreements and MOUs for the promotion of bilateral cooperation.

Prime Minister Shehbaz Sharif said the documents signed were aimed at further enhancing economic relations between the two countries.

The signing ceremony was witnessed by Prime Minister Sharif and the visiting Chinese vice premier.