1- CPEC to bring $3.01 billion of inflows in next five years in Pakistan. 2- Dollaar hits historical high at 157 in open market.

PTI Government Priorities & CPEC Projects

Posted on OCtober 07, 2018 at 02:00 PM

The new government of Pakistan has established a nine-member committee of officials to review the CPEC projects, routes and other major parts of Belt & Road (B&R) initiative. As well as Pakistan and China have decided to boost up CPEC projects. The federal government of Pakistan has introduced new targets of socio-economic development under CPEC.

According to Wang Jun, an official of China Center for International Economic Exchanges said "It's understandable among countries that development focus can change at any stage, especially with changes in government. So, it's really important for China to make some strategic importance and adjustments when working with these countries, but it's not a reconsideration of Belt & Road initiative or CPEC.

Reaffirming the PTI government commitment on CPEC, the planning minister Khusro Bakhtiyar said that "all efforts to be made for the success of China-Pakistan Economic Corridor (CPEC). China-Pakistan Economic Corridor (CPEC) is a bright future and reality of Pakistan, which is aimed to initiate the modern era of economic growth and trade."

Makhdum Khusro Bakhtyar further added, " To access and achieve the new set of targets, the government is fully devoted and dedicated to put all efforts together to make progress at the earliest."

China's Foreign Ministry has also confirmed on various occasions that cooperation plans under CPEC and Belt & Road initiative will continue in future, however, all adjustments are based on friendly consultation between Pakistan and China.
According to the government plan, Pakistan wants to develop more factories and poverty alleviation instead of infrastructure programs.

Chinese government noticed that Pakistani demands are within the cooperation scope of Belt & Road initiative and China has fully experienced all major areas such as industrial parks or manufacturing sector. China emphasized strong infrastructure because the manufacturing sector cannot achieve results.

Last Tuesday a report was released by a US-based project 'AidData' which briefed about Chinese development projects in general including Belt & Road initiative as well Chinese transportation projects will help to reduce and minimize the poverty and regional economic inequality.

During the meeting of Pakistan and Chinese officials discussed an agreement that the China-Pakistan Economic Corridor (CPEC) is an engine of rapid growth.
Further Khusro Bakhtyar said that the current government has prioritized the development of Gwadar as a stand-alone project. The Gwadar port is going to be a centre of industrialization and transhipment hub with a special focus on heavy industries deployment in Pakistan with a high rate of returns.

New government focused and encourage projects that are based on indigenous sources of energy including hydel and renewables, Thar coal which will reduce energy shortfall and guarantee cheaper energy.

During the meeting, Ning Jizhe appreciated the PTI government agenda and efforts for economic and social development and assured that Chinese companies will work effectively and efficiently. Ning Jizh agreed to work with the Pakistani government to achieve the targets.

Both governments decided to speed up development projects in Gwadar to ensure the groundbreaking development of Gwadar International Airport, technical institutes and hospitals in Gwadar this year.

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