Pakistan

Khusro vows for early completion of CPEC projects

Khusro vows for early completion of CPEC projects
  • Khusro Bakhtiar vows for on time completion of all China Pakistan energy projects including energy, Infrastructure and Gwadar port for development and prosperity.
  • Bakhtiar says current CPEC project is continuing their work on the all major project including eastern and western corridor all complete in given time.

ISLAMABAD: Federal Minister Ministry of Planning Development and Reform Makhdoom Khusro Bakhtiar vowed for on time completion of all China Pakistan energy projects including energy, Infrastructure and Gwadar port for development and prosperity.

He said that current CPEC project is continuing their work on the all major project including eastern and western corridor all complete in given time.

He said the country has gone throw the economic stability, “We want to achieve the strong foundation for sustainable economic growth and over the year economy growth would on string foundation, he said while addressing the press conference in Press Information Department (PID) here Sunday.

The Minister said that CPEC play huge role for Pakistan’s economic stability and the upcoming new phase of the country’s economic growth in next couple of years will enhance the country’s Gross Domestic Product (GDP) growth to 5 percent.

Khusro said Prime Minister Imran Khan’s upcoming visit to China would further bolster bilateral trade and economic ties between the two friendly neighbors.

He said during the visit expansion of China Pakistan Economic Corridor (CPEC) framework including cooperation in agriculture, industrial and socioeconomic sectors would be discussed.

Khusro Bakhtyar said China was a close and strategic partner of Pakistan and bilateral partnership between the two countries would continue to touch new heights in future.

It is in this backdrop that Prime Minister Imran Khan is visiting China to further promote bilateral trade and commerce exchange, he said.

The Minster said that during the Prime Minster’s visit to the China, both side will deliberate on agriculture and live stock cooperation to see more prospects for future.

He said CPEC offers enormous potential to boost national economy and reduce poverty and adding that the pace of projects under the CPEC had accelerated after the incumbent government came into power.

He said that 43, 00 MW of new electricity project was in pipe line and currently, 2500 MG power project are underway to be completed in given period of time. The government has all focused on prime project of Gwadar port and the matter for providing of 300 MG electricity in city has also been resolved, he said.

He said that Gwadar master plan was also been approved in this government by the cooperation of provincial Baluchistan government. The Minister said that now 19 Chinese companies are ready for investment in Gwadar in different sector, which also would enhance the cooperation between both sides.

For industrial growth, the industrial sector of Pakistan needs cheap energy sources for provide competitiveness to the local industry to increase country’s exports, he expressed.

The minister said that on recent relocation of Chinese industrial Units, the government has evolved strategy for completing the Special Economic Zones on priority basis to provide conducive business environment to the foreign investors. He said that CPEC authority also been approved by the cabinet to expedite the work on the all major projects of national significance.

He said next areas of focus for the government is transfer of technology and human resource, where China gives us better option as they have expertise in reverse engineering and capacity building of workers. He said the government also wants to increase the production of steel at local level and in this regard further cooperation has also sought from China.

Khusro Bahktiar said that our government would follow the Chinese model for poverty alleviation at larger scale and added, “We want to follow the Chinese strategy as they alleviated the 700 million people from poverty in past few decades”.

He said the government has also planned to initiate the project of 30 new hospitals in and institutional up gradation in the country.

The Minister said that mega project of CPEC was joint venture between the China and Pakistan which provide not only connectivity within region but also connect Pakistan with Central Asian States and Russia.