There is no denying that the game-changer project i.e., CPEC (China-Pakistan Economic Corridor) is playing a significant role in rekindling Pakistan-China relations with a new dimension and vision and promoting bilateral relations. Under this agreement, the two countries are committed to building and developing with a standardized and comprehensive strategy and completing a number of major projects, which was also expressed by Chinese Foreign Ministry Spokesperson during a routine briefing in Beijing.

He said that he is ready to work with Pakistan for high-quality construction and development of economic corridor and sustainable socio-economic development. CPEC is progressing rapidly. Both the countries are moving ahead with the alliance. CPEC Tharcoal project will reduce power crisis, the country’s economy will develop, people will get employment and prosperity will come. He also appreciated the statement of Pakistan coalition government in which it said that this project will convert sand dunes into energy source. will make.  Prime Minister Shehbaz Sharif inaugurated the Shanghai Electric Coal Power Project a few days ago. With the launch of CPEC in Pakistan, energy projects accelerated. 9 out of 16 priority projects have been activated and included in the National Grid. China is investing about 162 billion dollars in Pakistan under the CPEC, under which Gwadar port, roads, agriculture, power projects, industrial cooperation, financial services, science and technology, tourism, education and poverty alleviation are taken into account. The foundation of CPEC was laid in 2013. Its implementation was slow during the PTI regime, now it is progressing rapidly. CPEC is as important today as it was when the agreement was launched. came. 9 out of 16 priority projects have been activated and included in the National Grid. China is investing about 162 billion dollars in Pakistan under the CPEC, under which Gwadar port, roads, agriculture, power projects, industrial cooperation, financial services, science and technology, tourism, education and poverty alleviation are taken into consideration. has gone The foundation of CPEC was laid in 2013 during the rule of Muslim League-N. Its implementation was slow during the PTI regime, now it is progressing rapidly. CPEC is as important today as it was when the agreement was launched. came.

The multi-billion-dollar projects of the Economic Corridor between Pakistan and China were not only stalled during the previous government’s tenure, but work on a few projects could not be started and work on a single special economic zone earmarked for setting up industries could not be completed. In the previous government, Planning Minister Asad Umar claimed that the speed of CPEC will not be allowed to slow down, however, according to the official documents available with Urdu News, many power plants installed under CPEC were also not completed during the previous government. Closed due to payment. Because of this, out of five thousand megawatt power plants, about two thousand megawatt power plants are inactive. In September of 2021, the then Prime Minister Imran Khan admitted that the pace of work on CPEC projects was slow and said that due to Corona there were some problems in CPEC, but now work on CPEC is going on fast. Not one of the special economic zones to set up industries was completed

According to the documents, the most important plan for industrial cooperation between the two CPEC countries was the nine Special Economic Zones where Chinese companies were to set up industries to provide technology transfer and employment in Pakistan. According to Federal Minister for Planning Ahsan Iqbal, these Special Economic Zones were to be completed by 2020, but so far the work on a single project has not been completed. According to the documents, four economic zones out of nine were to be completed on fast track, but even one of them could not be completed, even 50% of it could not be completed. Only 35% of work has been completed on Allama Iqbal Industrial City Punjab, 30% on Rashakai Special Economic Zone Khyber Pakhtunkhwa, only 5% on Dhabeyji Special Economic Zone, Sindh and only 20% on Bustan Special Economic Zone, Balochistan.

A key official of the CPEC Authority, who worked with the previous government, said that the concept of special economic zone was proposed so that China could get cheap labor while developing. Pakistan should take advantage of this opportunity to move its industry somewhere else. However, for this purpose, Chinese investors must get full business facilities, one of them is that electricity, gas, land and other facilities are available to them under one window in the zone where they invest, but Pakistan I haven’t been able to yet, which has dampened investor interest. As a matter of fact, CPEC is an efficient network is of utmost importance for economic uplift. It will pave the way for North-South Corridor in Pakistan.  Industrial cooperation is very important to expand and increase the economic cooperation between the two countries as well as to pave new ways of development. The future can be assured. In this regard, China has the distinction of experience, technology, financing and industrial capabilities, while Pakistan can benefit from its resources, manpower and favorable market conditions. At the same time, the two countries can move forward to further promote industrial cooperation and achieve mutual benefits and win-win results. Likewise, under the framework of CPEC, the two countries have been working on two industrial cooperation projects, which include the Haier-Ruba Economic Zone (2006) Phase Two and Gwadar Free Zone. The foundation stone of Gwadar Free Zone was laid in 2016, and it attracted the business community towards CPEC. Under the CPEC framework, China Overseas Ports Holding Company Limited (COPHC) has okayed the construction of Gwadar Free Zone. China is keen to provide high-quality industrial capabilities to its long-time friend and partner country Pakistan and encourage and attract main Chinese companies to invest in Pakistan. Meanwhile, Pakistan has been working on amicably and judiciously determine the locations of the Special Economic Zones and provide a conducive environment along with formulating mutually agreed preferential policies in the Special Economic Zones. Likewise, the two countries continue to negotiate with each other to further strengthen industrial cooperation, and it is hoped that both countries will gain economic and social benefits through step-by-step win-win projects. Will And last but not the least, China has given interest-free loans for laying optical fiber cable between Rawalpindi and Khunjerab and its construction began in April 2016. Besides, the said Chinese company has completed the feasibility study about the use of digital terrestrial multimedia broadcast in Pakistan.

Published in The Daily National Courier, April, 01 2023

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