Prof. Ahsan Iqbal, Federal Minister for Planning, Development, and Special Initiatives praised China’s continued support for Pakistan on Thursday, stating that Beijing has been contributing to base development since President Xi Jinping’s visit to Islamabad in 2014 when he announced spending $46 billion under the China-Pakistan Economic Corridor (CPEC).
The minister reprimanded the CPEC Authority for the upcoming term, stating that the organization has been incapable of attracting funding since its inception three years ago. The news referred to him as the CPEC Authority’s final command.
He told a reporter on Thursday that “not a single dollar” has been invested in the CPEC project since this government took office.
The CPEC Authority was established in 2019 to ensure uninterrupted progress on its forecast and to unite the concerned parties.
Mr. Iqbal stated that a premature estimate of $29 billion had been made for the CPEC project.
“Therefore, we will adopt the same mechanism that has been used from 2013 to 2019 so that this project can be implemented as effectively as possible.”
He disclosed that China had consented to receive additional contributions to the CPEC project.
Mr. Iqbal, speaking at Sustainable Development Policy Institute’s (SDPI) ‘China-Pakistan Economic Corridor Green Development High-Level Policy Dialogue,’ stated that the CPEC approval was extended by a portion of $29 billion.
China’s ambassador to Pakistan, Nong Rong, stated that the Belt and Road Initiative and the China-Pakistan Economic Corridor (CPEC) were centered on continuous enterprise in green framework, green energy, green business, and current cultivation.
Separately, the spokesperson for the Chinese Ministry of Foreign Affairs stated on Thursday that the China-Pakistan Economic Corridor (CPEC) was a crucial pilot project for the Belt and Road Initiative and that China would continue to work with Pakistan to ensure that the results of this cooperation would be more effectively delivered to the Pakistani people.
During his daily discussion, Wang Wenbin stated, “It focuses on the development and people’s livelihood and has received widespread command and recognition from the outside world.”
