Prime Minister Nawaz Sharif has said that China-Pakistan Economic Corridor is the most important economic initiative for South Asia in the 21st century.
He said our region has witnessed a lot of conflict and deprivation in the past. Time has come to turn a new leaf in the history of the region by bringing peace and prosperity and addressing the challenges of poverty, unemployment and under-development.
The Prime Minister said CPEC is a new concept and approach in development based on shared goals and aspirations.
Nawaz Sharif said CPEC is not merely a strategic agreement between the two countries but culmination of decades long brotherhood and friendship and cooperation between Pakistan and China.
It is the latest in the history of cooperation in all areas of bilateral and global importance. He said Pakistan and China have been together through thick and thin.
He referred to the remarks of the Chinese President that Islamabad stood by Beijing at a time when it was isolated on the world stage and said Pakistan can never forget friendly gestures of China in developing cooperative relationship during difficult periods.
The Prime Minister said with the initial investment of 46 billion dollar, CPEC will become unique model of economic development as well as pioneering method of international economic cooperation.
He said 46 billion dollar is the economic value but the overall contribution and impact of CPEC would be much deeper and far-reaching.
He said CPEC will not only create a strong overland link between Pakistan and China but also give us opportunity to strengthen Pakistan’s own inland transportation and logistics infrastructure.
More than ten billion dollar will spent on railway projects as well as rail infrastructure in Pakistan.
Similarly, CPEC will be addressing Pakistan’s energy crisis as projects worth 35 billion dollars are envisaged in Pakistan in the energy sector.
The Prime Minister said Pakistan will generate 10,400MW of energy through early harvesting of projects, most of which are to be completed by 2018 and others by 2020.