Information and Broadcasting Minister Shibli Faraz has said that China-Pakistan Economic Corridor (CPEC) is a project that is equally important for the economic cooperation of both the countries.
Talking to the audiences at a seminar on CPEC in Islamabad on Wednesday, he said that the project would not only facilitate Chinese supply lines in Pakistan but will also prove beneficial for socio-economic development of Pakistan.
He also said that CPEC is based on the idea of collective development and this idea makes it a game changer project not only for Pakistan, but also for the entire region. He added that CPEC reflects the friendly relationship of China with Pakistan.
He said that CPEC would transform Gwadar into a center of economic activities in Middle East and North Africa.
CPEC would construct road networks from Gwadar Port to Khunjerab Pass and would also up-grade ML-1, he told the addressees adding that power projects of 10,000 megawatts would be initiated while Gwadar-Nawabshah pipeline would be installed to transport gas from Iran.
He said that toll of roads and bridges under CPEC projects would incur approximately six to eight billion rupees per annum.
He also said that 2.3 million jobs are estimated to be generated from 2015-2030 that would give more than 2.5 percent annual rise to GDP.
He briefed the participants that huge progress had been made in the first phase of CPEC as most of the tasks scheduled in construction, infrastructure and energy areas had been completed positively while a number of projects were in process.
He said that in CPEC’s phase, projects of industrialization, agriculture, modernization and socio-economic development would be executed.
The minister said that all the projects in the first and second phases would ultimately improve the economic activities in Pakistan.
He added that it was much important to reject negative propaganda about CPEC projects as its impact would benefit the population of Pakistan in near future.