Refocusing on CPEC to augur well for economy: Altaf Shakoor

KARACHI: After a lull in vital CPEC project during the previous regime, now refocusing on this vital initiative is a welcome development which will augur well for economy, said Pasban Democratic Party (PDP) Chairman Altaf Shakoor here Sunday.

He said that the CPEC was put on the back burner by the previous government but the sitting government has now put a big momentum in it which will prove beneficial for the national economy.

He said that the federal cabinet has approved the commencement of the second, and most important, phase of the CPEC project for industrial development of Pakistan. It has granted its approval for signing the draft Memorandum of Cooperation (MoC) to promote industrial cooperation with China, within the framework of the CPEC.

He said that the CPEC is the most prominent project of China’s Belt and Road Initiative, consisting of various economic and infrastructure projects throughout Pakistan. It is a $62 billion project, which includes a 3,000-kilometer network of railways, oil and gas pipelines connecting both countries, as well as new renewable energy projects.

Shakoor said that to provide firsthand experience of the successful industrial models in China, the Chinese stakeholders shall facilitate the field visits of the concerned teams from Pakistan, including the Chinese SEZs. He suggested that the industry leaders should be included in these visits so that their valuable input could be utilized. He said in Pakistan the policies are mostly based on the input from bureaucracy; however, the input of the industry is more important particularly when making decisions about the industrial development.

Shakoor said that vital national projects like CPEC should be kept above political considerations so that their continuity should be ensured even in case of the change of political governments. He said previous government wasted crucial four years of the CPEC which is loss to the nation and country. He said the business to business cooperation phase of the CPEC should be spurred for fast track socioeconomic uplift.

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