BEIJING: Federal Minister for Planning Ahsan Iqbal has said that a corridor will be established under the newly inaugurated China-Pakistan Economic Corridor (CPEC) Phase-2 to connect Balochistan’s mineral resources with Gwadar.
Talking to the media in Beijing, Ahsan Iqbal said that it was an honour for him to chair the 11th out of 14 high-level CPEC meetings. He said that the 14th Joint Cooperation Committee (JCC) has formally inaugurated CPEC Phase-2.
He said that the second phase will focus on business-to-business cooperation instead of government-to-government projects, and a conducive environment will be provided for Chinese companies to invest in Pakistan.
The minister said that the Beijing investment conference marks the beginning of a new journey, adding that the “Uraan Pakistan” initiative aims to make Pakistan a $1 trillion economy by 2035. He said the “Five Es Framework” and the five CPEC corridors are interconnected.
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According to him, the “Growth Corridor” covers boosting Pakistan’s exports and accelerating economic growth, while making exports the central pillar of sustainable development.
He pointed out that Pakistan’s share in China’s $2 trillion exports remains very small, and proposed that ASEAN tariffs should also be applied to Pakistani products.
Ahsan Iqbal said that the “Employment Corridor” covers the development of underprivileged areas of Pakistan, while the “Innovation Corridor” aims to benefit from China’s technological experience and build a digital silk road.
He said that the “Green Energy Corridor” will strengthen cooperation in combating climate change, while the “Infrastructure Corridor” includes transport infrastructure development to improve regional connectivity with Central Asia and Afghanistan.
The minister said that President Xi Jinping’s vision of prosperity and shared regional development aligns with “Uraan Pakistan.” He said that Pakistan has proposed to prioritise public welfare and youth skill development in CPEC Phase-2.
Highlighting Pakistan’s large youth population, Ahsan Iqbal said that the Phase 2 will include young people in the journey of national progress. He proposed sending 10,000 Pakistani students over the next decade to pursue PhDs in emerging technologies at 50 leading Chinese universities.
He said this training will help lay the foundation of Pakistan’s economy on modern technology, and that equipping youth with digital skills over the next two decades could trigger an economic revolution.
Iqbal said providing modern education and training to Pakistan’s youth remains the top priority, while discussions with China also covered skill-based vocational and technical cooperation.
He said that Pakistan would follow China’s poverty alleviation model, saying sustainable development and public prosperity could be promoted by learning from China’s experience.
The minister also said that it was agreed to accelerate work on the second phase of the Karakoram Highway, while discussions were held on establishing a “Minerals Corridor” to link Gwadar with Balochistan’s mineral resources.