‘CPEC Body Resulted in Zero investment’: Ahsan Iqbal

‘CPEC Body Resulted in Zero investment’: Ahsan Iqbal

Federal Minister for Planning

Prof. Ahsan Iqbal, the Federal Minister for Planning, Development, and Special Initiatives, praised China’s continued support for Pakistan on Thursday, noting that Beijing has been aiding in the development of Pakistan’s infrastructure ever since President Xi Jinping pledged $46 billion during his visit to Islamabad in 2014 to fund the China-Pakistan Economic Corridor (CPEC). 

However, the minister criticised the CPEC Authority for the second day in a row, claiming the organisation has failed to draw any investment since its founding three years ago, according to APP. He had been mentioned as advocating for the dissolution of the CPEC Authority in a news story from Wednesday. 

CPEC Project

Speaking to media on Thursday, he claimed that since the establishment of this authority, “not a single dime has been invested” in the CPEC project. 

In order to maintain consistent development on its projects and cooperation between the relevant departments, the CPEC Authority was established in 2019. 

Mr. Iqbal asserted that the CPEC project had previously received a $29 billion investment. 

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Apply the Same Mechanism

“So that this project may be implemented in the greatest way possible, we are going to apply the same mechanism that had been followed from 2013 to 2019.” 

He revealed that China had consented to increase investment in the CPEC initiative. 

Speaking earlier at the Sustainable Development Policy Institute’s (SDPI) “China-Pakistan Economic Corridor Green Development High Level Policy Dialogue,” Mr. Iqbal said that the $29 billion in new investments that followed the CPEC deal. 

Belt And Road Initiative And CPEC

The focus of the Belt and Road Initiative and CPEC, according to China’s ambassador to Pakistan Nong Rong, is on sustainable efforts in green infrastructure, green energy, green finance, and modern agriculture. 

Separately, the spokesperson for the Chinese Foreign Ministry was quoted by APP as saying on Thursday that the China-Pakistan Economic Corridor (CPEC) was a crucial pilot project under the Belt and Road Initiative and that China would keep collaborating with Pakistan to make sure that the outcomes of the cooperation were better delivered to the Pakistani people. Wang Wenbin stated at his routine briefing that the organisation “focuses on growth and people’s livelihood and has acquired wide command and recognition from outside.”

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