CHINA on Tuesday appreciated Prime Minister Imran Khan’s remarks about China-Pakistan Economic Corridor (CPEC) and said that it had boosted Pakistan economic and social development, people wellbeing and regional connectivity. Chinese Foreign Ministry Spokesperson Zhao Lijian, during his regular briefing, said the CPEC followed principles of joint consultations, cooperation and shared benefits.
The recent pronouncements and expression of commitment to take the historic initiative of CPEC forward augur well in the backdrop of consistent pressure tactics being adopted by some foreign powers and multilateral institutions in a bid to hindering prospects for rapid socio-economic development of Pakistan. China has always shown unwavering commitment to the CPEC and its practical demonstration came during Coronavirus pandemic that either scuttled or slowed down progress on developmental activities across the globe but Beijing ensure continuation of work on CPEC-related projects. Prime Minister Imran Khan too recently remarked that the CPEC would take Pakistan on the path of rapid progress and development as its economic future relates to the completion of various energy and infrastructure projects. In a related development, the two countries have signed an agreement for construction of Azad Pattan hydropower project on Jhelum River, which would serve as a shining example of their cooperation in exploitation of hydropower potential of Pakistan. Pakistan has immense potential to generate cheaper hydropower to meet its entire energy needs for centuries but these precious resources remain untapped due to financial constraints. A part of CPEC, with an investment of $1.5 billion, 700.7-megawatt Azad Pattan will not involve fuel import, thus enabling the country to move towards cheaper and greener power while generating local job opportunities. As the country finds it difficult to line up finances for building water reservoirs, it is high time that serious negotiations should be initiated to include such projects under the umbrella of CPEC as construction of dams is crucial for agriculture development and energy security. There is also need to widen the scope of cooperation with China for building nuclear power plants with focus on local manufacturing of small and medium-sized plants.
