First Phase of CPEC projects to be completed within a year

Projects under the first phase of China-Pakistan Economic Corridor (CPEC) will be completed within a year, a news source quoted Adviser to the Prime Minister on Commerce Abdul Razak Dawood. The government wants to expand the scope of CPEC in areas of industries, social development, agriculture, and education.

They stated that new leadership was determined to overcome the current economic challenges by formulating investment-friendly, development-focused and people-centric policies.

He said that the balance sheets of multinational corporations operating in Pakistan reflected that they were making profits. Pakistan had shifted from its traditional export sectors of textile and leather to the export of engineering goods. Pakistani and Chinese officials are scheduled to sign important agreements at the eight meeting of the Joint Cooperation Committee (JCC), the apex decision-making body on China-Pakistan Economic Corridor (CPEC), on December 20 in Beijing.

Islamabad would also push China to release funds for the construction of Western Route, besides seeking financial assistance for KKH Thakot-Raikot (remaining portion) and upgradation of DI Khan-Zhob (Phase-1) project.

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