Islamabad, November 13 (INP): With rebooting Pakistan economy, CPEC 2nd phase has put Pakistan into strong position to achieve its own 12th 5-year plan 2018-2023.

From first phase to second phase, journey of CPEC remains uncompromised and this momentum has charged up Pakistan to meet national targets and international goals. According to Gwadar Pro Net, China wishes to help Pakistan through financial and technical support in achieving its socio-economic targets, hoping that the 2nd phase, will a major source of industrial development and to enhance annual growth.

Pakistan and China at the 9th JCC meeting held here rolled out CPEC second era with positive note. It covered the areas of industrialization, SEZs, Agriculture socio-economic cooperation, skill developments, rail, road and port’s infrastructures.

All these priorities are directly in conformity with 12th 5-year plan 2018-2023. The five-year plan involves regional development; resource mobilization, social protection; connectivity, promoting knowledge economy and Clean and Green Pakistan.

PSDP 2019-20 suggests priority initiatives in the field of agriculture, information technology, higher education, science & technology and technical education and training.

Keeping in view targets of 12th 5 years plan 2018-2023, the Cabinet Committee on CPEC deliberated upon the ML-1 railway project besides formation of a high level financing expert group to deliberate on loan modalities.

The five-year plan conforms with six major areas that are to be concentrated for the expansion of CPEC. These areas include trade and market access, industrial development, Socio-economic Development and Poverty Alleviation and agriculture modernization and marketing.

The variety of projects in the areas of trade and market access under CPEC originates a plethora of opportunities in different spheres of life. In this connection, collaborative bond with China will be the rich source of promoting trade, facilitating market access, elevating the standard of living and achieving sustainable inclusive growth in Pakistan.

In addition, through CPEC, Pakistan will be able to open its doors to the world by expanding its trade and transport links, as well as boosting economic influence across the World.

Special Economic Zones (SEZs)/Export Processing Zones (EPZs) under CPEC are being developed keeping in view the objectives of fast-track industrial growth and export promotion through diversified products.

Furthermore, while developing SEZs/EPZs, due consideration may also be given to the fact that the exports could be boosted by ensuring value addition in existing exports through manufacturing processes.

INP/JAVED