Minister for Planning and Development Ahsan Iqbal said on Friday that the country’s power sector can expect another $4 billion investment through the China-Pakistan Economic Corridor.
Addressing the virtual meeting of the 13th Joint Cooperation Committee, the minister said the additional investment is in the last stages of finalization. The Joint Cooperation Committee is the main decision-making body for CPEC, which convenes annually. The Pakistani side was headed by Iqbal while the Chinese team was led by the chairman of Beijing’s National Development and Reform Commission.
He emphasized that the previous year marked a decade of high-quality development since CPEC’s inception in 2013.
The minister announced the addition of five new corridors focusing on growth, livelihood enhancement, innovation, green initiatives, and regional connectivity.
He expressed Pakistan’s appreciation for China’s vision in updating the second phase of CPEC with the new corridors.
The planning minister reiterated Pakistan’s readiness to collaborate with the NDRC to achieve “China and Pakistan’s shared vision of high-quality development”.
Since its inception CPEC has made steady progress, said Iqbal and highlighted that 16 energy projects have generated more than 8,000MW of electricity.
