CPEC second phase includes industrial development, employment: BRI senior researcher
Last updated on: 27 July,2019 09:26 pm
Dr Song Zhihui addressed at the business community in Islamabad about different reforms of CPEC.
ISLAMABAD (Dunya News) – Professor Dr. Song Zhihui, senior researcher on Belt and Road Initiative, on Saturday said that second phase of China-Pakistan Economic Corridor (CPEC) will give boost to industrial cooperation and establish many Special Economic Zones in Pakistan creating new opportunities for entrepreneurs of both countries to set up JVs and investment in areas of interest.
Professor Dr Song Zhihui, Senior Researcher on One Belt One Road project and Deputy Dean of International Studies, Sichuan University while addressing business community at Islamabad Chamber of Commerce & Industry talked about the different reforms, as per APP reported.
He was accompanied by Kashif M. Khan, Managing Director, Global Entrepreneurship Network, Pakistan.
On July 13, Federal Minister for Planning, Development and Reforms Makhdoom Khusro 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Bakhtiar also outlined the outdated structure and system of the Pakistan Railways, and maintained that the government’s focus was on ML-1.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.