ISLAMABAD, Apr 26 (APP): Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal on Friday chaired a preparatory meeting for the 13th China-Pakistan Economic Corridor Joint Cooperation Committee (CPEC-JCC) meeting and a visit of the high-level delegation to China.
He underscored the substantial success witnessed by Pakistan between 2013 and 2018, marked by an influx of approximately $25 billion of Chinese investment within the framework of CPEC.
“This investment traversed critical sectors such as energy, infrastructure, Gwadar, and telecommunications, significantly augmenting Pakistan’s developmental landscape across various sectors,” he said, according to a Planning ministry’s news release.
Despite encountering setbacks during the previous political administration, the minister said concerted efforts had been undertaken to restore China’s confidence, yielding significant progress under the present government’s stewardship over the past 16 months.
In his assessment of ongoing projects, Planning Minister Ahsan Iqbal accentuated the imperative of preparing for the second phase of CPEC.
Making reference to the recent visit of China’s Deputy Prime Minister commemorating the 10th anniversary of CPEC, Ahsan Iqbal outlined the incorporation of five corridors for future collaboration, with a focal emphasis on economic corridors geared towards job creation, innovation, green energy and inclusive regional development.
The meeting deliberated on pragmatic strategies within each corridor, aligning them with national development objectives and priorities.
Ahsan Iqbal underscored the importance of cultivating a proficient team to ensure readiness for negotiations in China. “Each project within the portfolio will be evaluated based on its contribution to the overarching vision and its potential for yielding mutually advantageous outcomes.”
The recent Joint Working Group meeting held on January 21, 2024, reaffirmed the commitment to international cooperation and coordination. Co-chaired by the Chinese Vice Minister of Foreign Affairs and the former Foreign Secretary of Pakistan, both countries concurred on third-party cooperation earlier this year.
The Planning minister was apprised that modalities for third-party cooperation would be finalized during the Prime Minister’s upcoming visit to China.
While reviewing the progress of key CPEC projects, Ahsan Iqbal discussed the imperative of upgrading the Karakoram Highway (KKH) to mitigate the risk of submergence following the construction of the Bhasha dam.
Officials from the National Highways Authority disclosed that the Cabinet had sanctioned an MoU for the cost-free feasibility studies of four projects, namely the Mirpur-Muzaffarabad-Mansehra road; the Babusar tunnel on N-15 highway; the DI Khan-Zhob section on N-50 highway, and the New Karachi-Hyderabad motorway. These projects are poised to substantially reduce transportation costs.
The Secretary Railways briefed the Minister on the upgrading of the 1727-kilometer-long ML1 Railway line from Karachi to Peshawar. This multi-billion-dollar railway line constitutes a historic milestone in Pakistan’s infrastructure development.
“Joint financing arrangements will be pursued with Chinese authorities during the Prime Minister’s visit to China.”
The Planning minister reiterated that the timely completion of the ML1 Railway Line remained the government’s paramount priority.
Highlighting the unique advantages of this mega railway line, he emphasized its role in supporting industries by reducing the cost of doing business, besides curtailing the oil import bill and transportation costs. Furthermore, it is poised to diversify supply chains for businesses operating along the route.
Ahsan Iqbal emphasized that the relevant departments of both countries were now fully poised to take requisite measures to materialize all agreements with unwavering momentum.
While reviewing the progress of infrastructural projects in Gwadar, it was ascertained that Phase I of the Gwadar Expressway was completed and operational, while work on Phase II, valued at Rs 94 million, would commence shortly.
The preparatory meeting concluded with the Planning minister’s directive to all pertinent ministries and their departments to formulate thoroughly researched, output-based progress reports and proposals in anticipation of the Prime Minister’s visit to China.