Asad Umar, Federal Minister for Planning, stated on Thursday (23 September) that the China-Pakistan Economic Corridor (CPEC) was a thorn in the enemy’s side, but it would not be stopped even if they tried.
Asad Umar, along with Special Assistant to Prime Minister (SAPM) on CPEC Khalid Mansoor while addressing a press conference concluded the virtual 10th Joint Cooperation Committee (JCC) under CPEC. He stated that CPEC was a target for various groups throughout the world, “particularly our eastern neighbor whom it stings and there is no doubt about this.”
In addition, he said that the government was aware of CPEC dangers which is why it has strengthened security procedures to cope with any unfavorable circumstance effectively. The minister stated that Pakistan had assured China that it would provide enhanced security to all projects and financed it through two special security divisions dedicated to CPEC, as well as resolve the issue of outstanding payment of $1.4 billion with Chinese companies for electricity production.
According to Asad Umar, the concept of a revolving fund exists already. As a result, any other mechanism would be established to assure prompt payment of overdue funds of $1.4 billion (Rs230 billion) to Chinese firms for electricity production.
During the JCC meeting, the minister discussed the Mainline (ML-1) project for upgrading the rail link from Peshawar to Karachi. The Chinese side is requesting a combination of Chinese RMB currency and US dollar for the execution of ML-1; however, Pakistan is requesting just dollar funding because our foreign trade is conducted in US dollars.
Asad Umar said, “Now we are entering the second phase of CPEC, where the Special Economic Zones (SEZs) and industrial cooperation will become functional and Chinese companies will make substantial investments.” In addition, he also said “In the first phase, the projects related to energy and infrastructure got implemented having worth of $25 billion under which $15 billion projects have been accomplished while $12 billion were under implementation.”
The minister stated that the Dasu project was not part of CPEC, but the government informed the Chinese side that all individuals engaged in the killing of Chinese engineers would be apprehended and brought before a court of law for exemplary punishment for their horrible crimes.
According to Asad Umar, Phase 2 of CPEC is much more promising because the prime minister has already issued directives to empower SEZ Authorities and Management Companies to provide maximum facilitation to investors. It has also been planned to build a Chinese Investor Facilitation Centre.
The matters discussed during the JCC included:
- 700-MW Azad Pattan Hydropower Project.
- South-North Gas Pipeline; Policy Framework for Thar Coal Gasification.
- Strategic Underground Gas Storages.
- National Seismic Study of Sedimentary Area.
- Joint Prospecting.
- Marketing of Metallic Minerals.
- Dir Motorway Project.
- Peshawar-DI Khan Motorway.
- Clean and Green Gwadar Movement Project.
- Karachi Coastal Comprehensive Development Zone.
- Potential Cooperation in the Copper-Gold mine exploration.
In Agriculture, the key focus area includes:
- Germplasm resources.
- Capacity building.
- Agriculture Product Processing.
- Agriculture Technology extension.
- Fishery Sciences and Technology.
- Aquaculture and Aquatic Product Processing.
- Establishment of Foot and Mouth Disease (FMD).
The chief ministers acknowledged their pleasure with the progress of the projects and proposed additional ones. Federal ministers, chief ministers, the prime minister of AJK, federal secretaries, and senior officials attended the meeting.
