CPEC promises not only boost in trade, it also gives confidence to people
ISLAMABAD: China Pakistan Economic Corridor (CPEC), the mega project of industrial and infrastructure development in Pakistan not only promises brighter and more prosperous trade opportunities, it is also a reassuring factor for the people of Pakistan who have suffered too much in the past due to terrorist incidents. Mr Wang Yiwei, Professor at School of International Studies of Renmin Universities of China said this while attending an in-house meeting on the Belt and Road Initiative and CPEC with representatives of Pakistani media. Prof Wang is heading a delegation of Chinese scholars including Mr Fan Lei, Senior Research Fellow, Charhar Institute of China, Chen Xiaochen, Senior Research Fellow, Chongyang Institute for Financial Studies of Renmin Universities of China, Mr. Lan Jianxue, Associate Research Fellow, China Institute of International Studies, Mr. Wang Weiran, Attache, Department of Asian Affairs, Ministry of Foreign Affairs of China and Mr Liu Zhijie Counselor from Asian Department of Ministry of Foreign Affairs of China. Wang Yiwei reiterated his belief that Pakistan and China are destined to be all-weather friends and with the successful implementation of CPEC the scope of mutual cooperation will grow further.
Mr Fan Lei while elaborating the various contours of the project said CPEC will not only bring stability, prosperity but will also boost confidence in the people of Pakistan. Pakistan he said is gifted with huge manpower and human resource and once they realize their efforts will pay them back in the form of country’s progress and their individual success they will put in their maximum efforts to achieve a particular goal. “Pakistan has suffered too much during last 20 years and now time has come to reclaim its lost glory,” said Mr Fan Lei. Today, because of the CPEC and the huge infrastructure development in its wake, world’s indicators and surveys are regarding Pakistan as a fast growing economy of the world, said he. He referred to Moody’s that has declared Pakistan’s banking system stable and growing.
The accelerating economy, boosted by progress in structural reforms and China-funded infrastructure projects, will stimulate lending growth at the country’s banks and support loan performance.
It was also observed that CPEC-related projects would connect China and Pakistan via rail and road, as well as through oil and gas pipelines. Although investments under CPEC are long-term and will continue until 2030, a large number of projects in the energy and transportation sectors are already underway.
It was observed by one of the visiting guests that CPEC is a huge project of economic revival of Pakistan and stands on four pillars, namely, energy, infrastructure, designing and establishment of industrial parks and Gwadar and other ports. Each of the four pillars is important and is meant to turn around Pakistan’s economy which of course is not in good shape at present. In the end, it was a consensus point that instead of wasting our energies to the criticism of the vested interests, our focus should be on the positive side of the CPEC which indeed guarantees Pakistan’s long-term, stability, prosperity and development.