Pakistan, China agree to broaden scope of CPEC project
China and Pakistan have decided to expand the project’s scope for the China Pakistan Economic Corridor.
Ahsan Iqbal, the minister of planning and development, made this statement to reporters on Thursday in Islamabad during the 11th meeting of the Joint Cooperation Committee on CPEC.
According to the Minister, broadening the scope of CPEC from government-to-government to business-to-business collaboration would support the development of the industrial sector and boost foreign direct investment and our country’s export potential.
He said that as part of the true spirit of CPEC, the JCC conference decided to deepen industrial collaboration between the two nations.
According to him, the summit resolved to pick up the pace of CPEC projects throughout the nation since they had been at a standstill for the previous four years.
According to the minister, CPEC now includes a number of new projects. It has also been agreed to create working groups and tap into Chinese experience in a variety of fields, including water resource management, information technology, mining, agriculture, and exports.
He said that the JCC conference decided to speed up progress on stalled infrastructure projects including the Karachi Circular Railway and ML-I.
The all-weather strategic cooperation relationship between Pakistan and China, according to Ahsan Iqbal, has advanced to new heights.
He expressed delight over the completion of 11 energy projects totaling 6,370 megawatts under CPEC since 2013, as well as an 880 km high voltage DC transmission line.
Three further 1200 megawatt projects, according to the planning minister, will be finished by 2023–2024.
According to Ahsan Iqbal, who thanked China for its unwavering assistance during the recent floods in Pakistan, the nation is expected to suffer a loss of $30 billion as a result of the disastrous floods, and the rehabilitation of flood victims is a problem that no one nation can handle on its own.
He remarked that we eagerly anticipate receiving assistance in this matter from all of our friends and allies abroad.