Chinese Charge d’Affaires lauds Pakistan’s commitment to foreign investment for national development
The Chinese Charge d’Affaires, Pang Chunxue, highlighted Pakistan’s efforts to facilitate foreign investment as a crucial factor in the country’s development, particularly in the context of the China-Pakistan Economic Corridor (CPEC). CPEC, a multi-billion dollar project within China’s Belt and Road Initiative, has entered its second phase with a focus on agriculture, IT, and industries, following the completion of infrastructure work. Security and resolving payment issues have been emphasized as essential for the project’s success. Various political leaders have acknowledged the challenges and disruptions that CPEC has faced over its ten-year history, including sit-ins and natural disasters, but stressed its potential for economic progress in Pakistan.
The Pakistani government is providing facilities for foreign investment which will play an important role in the country’s development, Chinese Charge d’Affaires Pang Chunxue said.
“Infrastructure work was done in the first phase of the China-Pakistan Economic Corridor,” she said on Aaj News show Rubaroo which was aired on Sunday. “Now, attention is being paid to the promotion of agriculture, IT and industries” in the second phase.
The multi-billion dollar project, which is part of China’s Belt and Road Initiative, has been described as a “game changer” by Pakistani leaders. Over the past many years, the country has offered CPEC to other friendly countries and asked them to reap the benefits of the corridor project.
Pang Chunxue was of the view that foreign investment was crucial for development.
Former Pakistan’s ambassador to China Masood Khalid shared that Chinese investors wanted to set up industries in Pakistan but they were not provided facilities. But now the facilities were being provided for investment, he said and added that they wanted to resolve issues by sitting with Chinese friends.
Khalid went on to add that the most important thing in the success of CPEC was “security”. He added that CPEC projects have been provided complete security.
“The problem of payments in dollars is also very serious, due to our shortcomings, progress on CPEC was slow,” he said.
Interim federal minister Jamal Shah said that economic progress was being focused during cabinet meetings.
He alleged that the 2014 sit-in was staged to stop CPEC as the visit of Chinese President Xi Jinping was postponed. With CPEC, Shah said there would be economic progress in Pakistan.
PPP leader Faisal Karim Kundi said that CPEC has completed 10 years under which many projects were started.
“CPEC was affected by sit-ins and unpleasant incidents,” he lamented and added that development work was affected due to floods.
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