DESCRIBING the strategic partnership between Pakistan and China as ‘exemplary’ for the world, Prime Minister Imran Khan, on Sunday, emphasized that the China-Pakistan Economic Corridor (CPEC) was not only a harbinger of economic growth for Pakistan but also a path to development for the entire region.
Chairing a meeting to review the progress of projects under the CPEC, he said in order to transform these relations into strong economic ties, it is necessary to promote investment in areas of mutual interest and provide all possible incentives to investors.
The Prime Minister has all along been emphasizing the need for industrialization and wealth creation as part of his approach to put the country on the path of fast-paced development.
However, these objectives cannot be achieved without improvement in the infrastructure, provision of necessary incentives to investors and ensuring ease of doing business.
The projects already included in the framework of the CPEC or planned to be included are aimed at creating world class infrastructure that would brighten the prospects of investment in the country.
Apart from this, a number of special economic zones have also been planned to be set up in different parts of the country where Chinese have committed to invest.
Similarly, modernization of Gwadar port and creation of necessary infrastructure and a network of rail and road network to link it with the rest of the country and the region would also help realize the cherished objective of making Pakistan a hub of regional trade and investment.
Chinese are also extending cooperation for modernizing of the railway network and agriculture that would go a long way in stimulating socio-economic growth.
In this backdrop, there is every reason for Pakistan to remove hurdles in the way of smooth implementation of different projects under the umbrella of CPEC.
The Prime Minister deserves credit for personally chairing meetings on a regular basis to review progress of various projects under CPEC and it was because of his personal interventions that provinces are now showing greater interest in facilitating setting up of special economic zones.
The authorities concerned should also go deeper into causes that have caused delay in completion of some of the significant CPEC projects.
