Govt to form Pak-China Business Council, establish CPEC Authority: Bakhtiar

Bakhtiar said Pakistan has great potential for development owing its geographical position.

ISLAMABAD (Dunya News) – Federal Minister for Planning, Development and Reforms Makhdoom Khusro Bakhtiar said on Saturday that the government was committed to implement much needed structural reforms for ensuring sustainable development in the country.

Addressing Pakistan-US Alumni Conference in Islamabad, he said the previous governments had been shying away from structural reforms because it was a difficult task to do.

The minister said the government was taking solid steps to stabilise economy of the country. He said human capital development was being given special emphasis.

Bakhtiar said Pakistan has great potential for development owing its geographical position and the coastal belt.

“Prime Minister Imran Khan is going to pay a visit to the United States this month…The visit will prove to be a new phase of rebuilding the bilateral ties on the horizon,” he expressed hope.

Welcoming the alumni conference, the minister said such events prove quite helpful in understanding culture of each other country.

CPEC “a manifestation of Pak-China relations”

Later in the day, Bakhtiar held a press conference along with Advisor to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan.

He stated that under the China-Pakistan Economic Corridor (CPEC), industrial and agricultural agreements were reached between China and Pakistan, and the government has been committed to continue the project.

He disclosed that the second phase of the CPEC was being initiated by the government, and termed it an “unfortunate” situation that from the last four years no progress could be achieved on the Gwadar Port.

“The government has been acting accordingly with the agreements; however we will upgrade the current structure of the CPEC,” he said, while terming the economic corridor as ‘vital’ for the country to recover from the current [financial] crisis.

He added that the government has decided to form Pakistan-China Business Council and establish CPEC Authority.

“Gwadar Master Plan is in its last phase, and the government is determined to complete all projects under the CPEC,” he said.

Bakhtiar also outlined the outdated structure and system of the Pakistan Railways, and maintained that the government’s focus was on ML-1.

“The project [ML-1] will be completed in three phases…We will upgrade the system of railways,” he further said.