BEIJING: Presenting budget for the next fiscal year in the National Assembly on June 11, this year, Federal Finance Minister Shaukat Tarin said that in the budget, the government has also focused on the projects of the China-Pakistan Economic Corridor (CPEC).
It has proposed 9.3 billion rupees for the development of railway project Main Line-1—to improve the North-South communication of the country and to facilitate commuters and traders, including the Gwadar port and special economic zones (SEZs) to create jobs and push the growth wheel for the country—Further tax relaxations will be given to investors interested in the SEZs under the CPEC.
However, CPEC which is part of China’s One Belt, One Road (OBOR) or China’s Belt and Road Initiative (BRI) is rapidly developing. CPEC will prove to be a gateway to prosperity for the both countries as well as the region. Under the project, Beijing is investing as much as $62 billion in various sectors in Pakistan.
In this regard, the Chairman of China Pakistan Economic Corridor (CPEC) Authority Lt. General (R) Asim Salem Bajwa stated on May 4 and May 31, 2021: “Gwadar port has been made fully operational and now online booking for delivery of goods can be made…the work on Phase-II of Gwadar Free Zone is underway and other projects connected to Gwadar port have also been expedited in last two and a half years…The western alignment routes of the CPEC will be completed in around three years …work is underway from Islamabad to Dera Ismail Khan and from Dera Ismail Khan to Zhob…completion of these projects will usher in prosperity in these areas.”
The chairman further said: “We are moving beyond infrastructure to focus on agriculture, particularly economic zones to boost industrialization… science, technology and tourism would also receive attention to enhance growth… foreign investors were already showing interest in the second phase that would help bring huge foreign direct investment in the country.”
He clarified that the CPEC is a national project and “no power in this world can stop this project from being successful.”
Earlier, Prime Minister Imran Khan reiterated the resolve to complete the CPEC at all cost. – Agencies
