ISLAMABAD: Pakistan and China on Friday agreed to form a working group (WG) for five new economic corridors under the second phase of CPEC, in line with the 5Es framework already prepared by the Ministry of Planning.
The agreement was reached during a meeting between Federal Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal and Chinese Ambassador to Pakistan Jiang Zaidong that lasted for over an hour here at the Ministry of Planning, a press release said.
Chinese envoy Jiang Zaidong congratulated Ahsan Iqbal for assuming the role of Minister of Planning for the fourth time.
Both the Ministry of Planning and China’s National Development and Reform Commission (NDRC) would prepare separate concept papers on new economic corridors to provide a clear blueprint for each sector in the future.
The Ministry of Planning has already started implementing the 5Es framework which includes Exports, Energy, Capital, e-Pakistan and Environment.
The Planning Minister outlined a strategic approach to maximize the success of Special Economic Zones (SEZs) in Pakistan.
He proposed a “one plus four” model in which each SEZ in Pakistan would be linked with one province from China, one industrial group to develop specialized clusters within the SEZ, one SEZ from China to provide technical expertise, and a state-owned enterprise. to the forefront of SEZ development.
In response to Pakistan’s need to increase the efficiency of SEZs to increase foreign exchange, the Chinese envoy suggested that officers in charge of SEZs should visit Chinese industrial parks to observe first-hand the efficiency measures practiced by the Chinese authorities.
Discussions also focused on enhancing regional connectivity with special emphasis on critical infrastructure projects such as the Gwadar Port and the M-8 highway that would strengthen trade ties and facilitate regional integration.
The Planning Minister highlighted China’s industrial progress as an exemplary and motivating force for Pakistan to follow.
The minister appreciated China’s help in helping Pakistan develop its exports. He said Pakistan’s current challenge is to determine how quickly it can build its exports through earned foreign exchange, not borrowed money.
The minister assured the ambassador that security is a prerequisite for development and acknowledged Pakistan’s full recognition of construction and security risks of CPEC.
