CPEC to transform Pakistan's infrastructure, economy: minister

ISLAMABAD, July 26 (Xinhua) -- The ongoing and incoming development projects under the China-Pakistan Economic Corridor (CPEC) have a huge potential to transform Pakistan's infrastructure and economy, a Pakistani official said.

Pakistan's Minister for Planning, Development and Special Initiatives Ahsan Iqbal made the remarks while addressing a two-day international conference here on Tuesday.

CPEC, a flagship project of the Belt and Road Initiative (BRI), is not merely about physical connectivity but also aims to uplift the lives of the people and boost socio-economic development across the country, Iqbal said.

Themed "Decade of CPEC and BRI: From Vision to Reality" to mark the 10th anniversary of the launching of CPEC, the conference concluded with the aim to expand further and accelerate the pace of work on CPEC projects for Pakistan's prosperity.

Highlighting crucial energy infrastructure projects under CPEC including power plants and transmission lines, the minister said that these projects played a vital role in addressing Pakistan's energy needs and promoting industrial growth.

He also emphasized the significance of transportation and connectivity projects of CPEC, such as the development of road networks and modernization of ports, to enhance regional trade and economic integration.

Talking about the Gwadar Port, a strategic project under CPEC, the minister underlined that the port is set to become a key maritime gateway connecting Pakistan with the rest of the world.

"The development of Gwadar Port and its associated free zone is expected to attract foreign investment, stimulate economic activities, and create job opportunities in the region," he added.

Iqbal also encouraged both local and foreign investors to participate in these development ventures actively, emphasizing the government's commitment to providing a conducive and investor-friendly environment.

"All stakeholders' interests will be safeguarded, and transparency will remain a cornerstone of the entire development process," the minister added.