CPEC jewel in the crown of BRI covering three continents: PM’s aide on CPEC

Karachi: Special Assistant to Prime Minister (SAPM) Imran Khan on China-Pakistan Economic Corridor (CPEC) Affairs Khalid Mansoor said on Thursday afternoon that CPEC was the jewel in the crown of China’s Belt and Road Initiative (BRI) covering three continents.

Speaking at the fifth edition of ‘The Future Summit’ here, Mansoor contended that CPEC was not China-centric as it was all about regional connectivity.

“CPEC is not China centric. It is all about regional connectivity. CPEC is the jewel in the crown of China’s Belt-Road Initiative covering three continents,” he remarked.

He said CPEC projects would prove the best avenue for investment, especially foreign investment. “Besides China, Special Economic Zones under CPEC are open to entire world for investment. Pakistan has offered very competitive incentives at the SEZs. By 2030, with expected big foreign investment CPEC would help boost Pakistan’s economy,” he elaborated.

He underscored that not only China but other countries and business leaders across the globe were already giving enormous attention to this multi-faceted and magnanimous development project. “We shall soon hold international conference on CPEC significance,” Khalid Mansoor predicted.

He presented detailed review of phase-I of CPEC and spoke of the future projects under its second phase which was mainly focused on industrialization and development of agriculture sector.

He underlined that CPEC starting in 2013 would be completed in 2030 and last five years’ period was being called as the period of maturity of CPEC, which was aimed at bringing socio-economic revolution in Pakistan by bringing industrial revolution.

Mansoor informed that negotiations on phase-II of free trade agreement were going-on and it would be soon finalized to the best interest of both the countries. He urged the private sector to take maximum benefit from CPEC as they were the major stakeholders.

Mansoor recalled that during the initial stage of CPEC, electricity was too expensive as the major portion was being generated from furnace oil which also directly hit country’s balance of payment but the options like the solar energy had changed the scenario.

In his speech, Chairman Board of Investment (BOI) and Minister of State Muhammad Azfar Ahsan expressed his confidence that Pakistan’s economy was reinvigorating at fast pace.

He pledged that the government was taking all possible measures for strengthening the country’s economy with focus on increasing exports. It was highly significant to refine the entire process of corporate governance.

The BOI Chairman believed that the business community’s role was decisive in the economic growth of the country and BOI would be extending all kind of support and facilitation to them.

“The government acknowledged the important role being played by the business community in the country’s economic progress and development and it wanted them to create wealth by expansion in their business and earning high profit in the best possible business environment,” he stated.

He pointed out that it was one of the top priorities of the government to remove hindrances to start new businesses. It also ensures soft and easy availability of financing for Small and Medium Enterprises (SMEs).

He opined that for promoting local and foreign investment in the country, the reforms were being carried in BOI, which had also approved twenty two special economic zones with competitive incentives.

He indicated that the government was striving to ensure business friendly policies at all levels without any discrimination.

The Investors’ friendly policy of the government, led by Prime Minister Imran Khan, had resulted in the economic development over last couple of years, the BOI chief said.

Chairman, Senate Standing Committee on Water Resources Senator Dr Musadik Malik emphasized on fast digitalization, also in healthcare.

“There was a time when television created a magic around all the nook and corners of the world, then the emergence of the mobile phones grasped the market,” he mentioned.

Malik also highlighted the significance of electronic chips which are being used in healthcare to monitor and closely check the patient’s condition from time to time. This shows the extent to which technology has impacted the lives of the humans, he noted.

“One must imagine future in a different way and then devise strategies accordingly. Keeping into consideration your vision and mission, and by means of innovation you drive your life towards future,” he explained.

President Institute of Business Management and Management Association of Pakistan Talib S.Karim, recalling the time when COVID pandemic unearthed, stressed that the biggest challenge for the educational institutions was to get adept with the usage of virtual and online learning system which was successfully adhered in letter and spirit in order to avoid any loss of studies due to the rising wave of the coronavirus pandemic.