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August 04 , 2023
CPEC Moves into Second Phase with Simple Celebration
Islamabad: China and Pakistan decided to accelerate the second phase of the China-Pakistan Economic Corridor, hailing the progress on development initiatives in the decade since the project’s launch in 2013.
In a special ceremony held to commemorate 10 years of CPEC on Monday, six new documents were signed for joint cooperation. The celebrations, however, were kept simple out of respect for the victims of the Bajaur terrorist attack .
Earlier in the day, Chinese Vice Premier He Lifeng, who is on an official visit to attend the celebrations as a special representative of President Xi Jinping, was conferred with the Hilal-i-Pakistan award. He also met President Arif Alvi and Prime Minister Shehbaz Sharif.
In the ceremony held at the Prime Minister House, officials from both countries signed an agreement on the Joint Cooperation Committee on CPEC, an MoU on establishing an export exchange mechanism within the framework of CPEC, a protocol of phytosanitary requirements for the export of dry chilies from Pakistan to China and a document on the final report on the feasibility study of the Karakoram Highway Phase-II realignment.
PM Shehbaz and Chinese Vice-Premier Lifeng witnessed the signing ceremony.
An MoU on the industrial workers exchange program as well as minutes of the 21st conference of the ML-1 project’s technical committee were also signed.
In his remarks at the ceremony, the prime minister recalled that 10 years ago, CPEC was started after then prime minister Nawaz and President Xi Jinping signed the agreements and its implementation started swiftly.
“We can claim that under CPEC, over $25 billion were invested in power, road, hydel and public transport. Now we are entering the second phase,” said Mr Sharif.
“Today, we signed certain important documents which will further enhance cooperation and undertake the second phase of CPEC under a new model.”
The second phase would include B2B investment in agriculture and information technology to enable Pakistan to export its products according to Chinese standards and requirements.
Highlighting the importance of ML-1 — the main railway track connecting Karachi to Peshawar — and Karachi Circular Railway, the PM hoped both projects would be successfully executed to help Pakistan “stand on its own feet through the hard work and untiring efforts of both countries”.
Later, the prime minister hosted a luncheon in honor of Mr Lifeng and his delegation. —APP
Courtesy APP