Islamabad, Oct 3: Chinese Investment Essential for Stabilizing Pakistan’s Economy, Says Minister. According to a statement from the ministry, Pakistan’s Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal, stated on Wednesday that Chinese financial support and investment had been crucial in stabilizing Pakistan’s economy during difficult times.
Iqbal reaffirmed Pakistan’s commitment to bolstering collaboration across multiple sectors while presiding over a meeting with senior government officials here to discuss improving cross-sectoral cooperation and creating a comprehensive action plan to develop economic ties with China.
Iqbal was quoted in the release as stating that Chinese projects under the China-Pakistan Economic Corridor (CPEC) are a bright example of a shared vision for prosperity and modernization between the two countries.
Launched in 2013, CPEC, a flagship project of the China-proposed Belt and Road Initiative, is a corridor linking the Gwadar Port in southwest Pakistan’s Balochistan province with Kashgar in northwest China’s Xinjiang Uygur Autonomous Region, which highlights energy, transport, and industrial cooperation in the first phase, while in the new phase expands to fields of agriculture and livelihood, among others.
The minister also emphasized the critical role that each ministry plays in the successful execution of CPEC, stressing the need for cross-sector cooperation within the government to realize the initiative’s full potential.
According to the statement, Iqbal emphasized the significance of engaging with the Chinese private sector in order to highlight Pakistan’s potential as a top location for cutting-edge business-to-business investments.
The minister also emphasized how urgent it is to make significant progress in areas of national importance including building infrastructure, connecting roads, information technology, industrial cooperation, agriculture, healthcare, education, water resources, energy, and artificial intelligence.
