Pakistan benefiting from first CPEC phase: PM

Kakar says second phase requires road and air connectivity around industrial projects

ISLAMABAD:

Caretaker Prime Minister Anwaarul Haq Kakar said on Wednesday that having achieved the first phase of China-Pakistan Economic Corridor (CPEC), Pakistan was benefiting from its early harvest projects while remaining engaged with China to execute the next phase.

In an interview with China Global Television Network (CGTN) recorded during his visit to Davos to attend the World Economic Forum, and aired on Wednesday, the prime minister stated that CPEC’s second phase required road and air connectivity around the industrialisation projects.

“We have already achieved the CPEC’s first phase and we are benefiting from its early harvest projects. We are entering the second phase. We do need more deliberations when it comes to the second phase,” Kakar said.

“Both sides are engaged and we have developed a lot of connectivity – road, air and rest of connectivity corridor. We are benefiting from the ecosystem of doing trade with one another,” Prime Minister Kakar told the interviewer.

Asked how he articulated the Chinese economy, Kakar replied that being a huge marketplace, both China and the world were interested in each other. “There are 1.5 billion consumers and 1.5 billion producers... How can you divorce 1.5 billion people from 8 billion people? It has to remain connected.”

Read: Pakistan fully committed to success of CPEC, PM assures Chinese vice FM

About the caretaker government’s priorities, the prime minister mentioned economic revival, transformation of technology and taxation reforms. He said that Pakistan was on the middle ground amidst discourse between global north and south, and other conflicts in the region.

Domestically, he said, the government needed to earn more and spend less. He stressed that Pakistan should remain focused on taking advantage of the opportunities in the region, including the Belt and Road Initiative (BRI) and the relocation of Chinese industry.

He advocated the policy of encouraging businesses, and providing them with electricity on competitive price to help them produce competitive goods for export. He said that the government was also focusing on Special Economic Zones (SEZs) and policies for foreign direct investment.

To a question, the prime minister said Pakistan was heading towards general elections and wished well for the contestants with a hope that they would have a plan for economic revival in their respective agendas.

APP