Khalid Masood, the Pakistani ambassador to China
The power of CPEC
Upon his visit to China, Khan told Xinhua that the China-Pakistan Economic Corridor (CPEC) is now in a new phase, which should focus on bringing more investment to Pakistan and establishing special economic zones. He further noted that by doing so, CPEC could help Pakistan develop its industry to enhance exports.
Serving as a flagship project of the Belt and Road Initiative, both China and Pakistan have attached great importance to its development and progress.
“Good progress has been made in the power sector, a number of power projects have been completed, and more are in the pipeline. Gwadar Port is also operational, though not at its full capacity, but cargo ships are coming, and we hope this project will gain momentum in the years to come,” said Masood.
According to the ambassador, an international airport is expected to be built in Gwadar, while hospitals, vocational institutes, power plants and new roads have already been built in the city. In addition to the port, both China and Pakistan have agreed to develop nine locations in Pakistan for industrial parks and economic zones, with the first one coming soon.
“Obviously, CPEC has brought benefits to Pakistan. I think projects worth 19 billion dollars are already in different phases of implementation, while over 60,000 job opportunities have been created because of CPEC. CPEC is a win-win solution for both China and Pakistan, and I look forward to more investment and business participation from China,” said Masood.