China-Pak Economic Corridor to benefit entire Pakistan, region

ISLAMABAD: The China-Pakistan Economic Corridor (CPEC)    will not only benefit the entire Pakistan in terms of improvement of its  economy and security conditions, but also contribute to the regional peace, stability and prosperity.

A 19-member Chinese Expert Group on Long Term Planning of CPEC led by Deputy Director General of China Development Bank Hu Dongsheng recently visited Pakistan and held extensive and in-depth discussions with their Pakistani counterparts led by Secretary Planning, Development and Reform

Hassan Nawaz Tarar, said a press release.

Both the sides emphasized the importance to speed up the process of drafting the China-Pakistan Economic Corridor (CPEC) long term plan which is scheduled to be finalized by July this year.

They reiterated their determination to implement the consensus reached by the previous meetings of the Joint Cooperation Committee of CPEC, as well as its working groups.

They reviewed the draft Long-Term Plan of CPEC (2015 – 2030) and believed this draft could be a good basis for further deliberations.

It was agreed that CPEC is a comprehensive package of cooperative initiatives and projects, which covers the key areas including

connectivity, information network infrastructure, energy cooperation, industries and industrial parks, agricultural development and poverty alleviation, tourism, financial cooperation as well as livelihood improvement including municipal infrastructure, education, public health and people-to-people communication.

Both sides reaffirmed that the prime objective of the construction of CPEC is to benefit all the regions and people in Pakistan.

It was agreed that the CPEC should be promoted in priority and step by step, incorporating the long term and short & medium term needs and based on the concrete conditions of Pakistan.

Both the sides should push forward the implementation of the Early Harvest Projects as well as the preparation of the projects of the long-term plan in all sectors.