China Pakistan Economic Corridor (CPEC) has become an integral part of the relationship between Pakistan and China with promised investment of $57 billion in various projects. Therefore Pakistani government has been working hard to ensure smooth execution of all the projects under CPEC despite facing certain challenges, said Federal Minister for Planning and Development Ahsan Iqbal.
Ahsan Iqbal speaking on the sidelines of the World Economic Forum in Dalian, China said that we are satisfied with the progress of the projects till now. However, challenges like communication gap and others between internal and external stakeholders need to be addressed to ensure smooth execution of the projects. Coordination gap is the foremost issue that needs to be resolved on fast track basis, Iqbal emphasized.
The federal minister further said that CPEC is breaking the shackles of poverty and under development by creating growth opportunities in the region. Pakistan and China agreed on the Belt and Road Initiative through which a network of road, rail, and energy will be setup and CPEC is the core product of this initiative through which an idea has been turned into a $50 billion portfolio by both the countries.
It is expected that 3 billion people from China, South Asia, and Central Asia will benefit from CPEC. Pakistan has also benefited from CPEC as energy crisis has been reduced with even remote areas now getting electricity. This has bridged the gap between developed and remote areas with the latter now also getting almost equal economic opportunities.