Islamabad: After substantial gains in a wide variety of fields over the years, China’s top economic planner stated at a press conference on Wednesday that the China-Pakistan Economic Corridor (CPEC) has entered a new era of high-quality growth.
The CPEC has made great progress, according to Meng Wei, a spokesperson for the National Development and Reform Commission (NDRC), with expressways, vocational schools, and power plants sponsored by China already operational in Pakistan.
According to Meng, the CPEC will boost Pakistan’s socioeconomic development across several areas, including energy and transportation, as a significant pilot project of the Belt and Road Initiative.
According to the NDRC, the production of power plants in Sahiwal and Qasim accounts for 33 percent of Pakistan’s national power supply, alleviating electricity shortages.
Meanwhile, Lahore’s first urban rail transit system and the Karakorum-Peshawar-Karachi motorway have been finished and opened to traffic. The new bilateral industrial collaboration will be bolstered by the La Shaqa’i Special Economic Zone.
China and Pakistan will continue to deepen collaboration on the Gwadar port, as well as energy and infrastructure projects, according to the NDRC spokeswoman, in order to support the CPEC’s high-quality growth.
Five cooperation documents and three inter-enterprise cooperation agreements were signed at a meeting of the CPEC’s Joint Council for Cooperation on September 23. CPEC is a corridor connecting Gwadar Port and Kashgar in Northwest China’s Xinjiang Uygur Autonomous Region that emphasises infrastructure, energy, and industrial cooperation. It was launched in 2013.