By Ayesha Saba

ISLAMABAD, August 2 (INP-WealthPK): China-Pakistan Economic Corridor (CPEC) has laid the foundation for sustainable development in the country by connecting rural and urban areas, attracting international investment and promoting industrial uplift, WealthPK reports.

The major objective of CPEC is the development of infrastructure, which is a base for socio-economic uplift. “CPEC is being built on a massive infrastructure platform to ensure regional connectivity. Pakistan offers a vital route of transportation to both China and Central Asia. A reasonable and affordable mode of transportation for commodities connecting the Arabian Gulf, Central Asia, and China is provided by Pakistan’s newly-constructed and updated motorway network,” Dr. Liaqat Ali Shah, the executive director and head of the Policy Division at the CPEC Authority told WealthPK.

He said that Chinese investment under CPEC was mainly focused on the development of infrastructure. He said that the largest part of the investments went to setting up power generation plants, railway tracks and highways. He added that CPEC’s western alignment was also the focus of new infrastructure projects, which connected Pakistan’s most underdeveloped regions with Gwadar and major urban centers.

“Our economy is changing fast because of rapid globalisation. The development of the road network has boosted domestic economic expansion. Moreover, an enabling environment for the private sector, which then assumes the lead in the growth process, is created by the provision of basic infrastructure in transportation, communications and utilities such as electricity. This offers an unprecedented opportunity to the business sector to export more goods and services and create high-quality jobs,” said Dr. Liaqat.

He said that the government was establishing special economic zones and promoting the relocation of Chinese enterprises to Pakistan that would benefit not only the home market but the entire region. “As infrastructure is the primary objective of CPEC, highways, ports and bridges have been constructed all over Pakistan, improving the transportation and communication system of the country,” he added.

Dr. Liaqat said that Pakistan had a promising and bright future. “The government will continue to focus on these projects for the prosperity of the country. CPEC has laid the foundation for sustainable development in Pakistan,” he added.

According to Pakistan Ambassador to China Moinul Haque CPEC played a vital role in the future economic development of Pakistan, with the Gwadar Port as the main component. Half of the CPEC projects including hydro, wind and solar energy schemes have already been executed in the first phase.

Independent News Pakistan—Wealthpk