Chinese envoy rules out slowdown in CPEC

ISLAMABAD: Chinese Ambassador to Pakistan Yao Jing on Sunday categorically ruled out a slowdown in the projects falling under the China-Pakistan Economic Corridor agreement. 

"There is no slowdown of CPEC as its foundation is solid and direction is set for the beginning of a new stage of CPEC," Jing stated in his address at the Friends of Silk Road seminar organised by Pak-China Institute. 

Federal Minister for Planning Development and Reform Makhdoom Khusro Bakhtiar was the guest of honour of the seminar, which was packed to capacity with a diverse and distinguished gathering. 

These included scholars, students, intellectuals, former diplomats, parliamentarians, business leaders, lawyers, civil society and representatives of Chinese companies. 

Ambassador Yao Jing said that in this new stage of CPEC, the Chinese government was working very closely with Pakistan government and had identified three key areas to promote CPEC. 

"These include Special Economic Zones and preference to private sector and agriculture. A special agricultural expo will be organised later in October in Islamabad and Lahore, with a focus on fisheries," he said. 

Reports suggest that social sector development projects of CPEC were being fast tracked, courtesy of a $1 billion grant by the Chinese government.

Speaking on the occasion, Minister Bakhtiar announced that the government had decided to go ahead with ML-1 mega project for Pakistan Railways. 

"The project will lead to dualisation and upgradation of railway tracks from Peshawar to Karachi, and is the the biggest modernisation of Pakistan Railways since independence," the minister said. 

He added said that CPEC was above any political divide and there was a national consensus on the agreement which would meet 80 percent of the energy needs of Pakistan in the near future.