CPEC Phase-II to help transform Pakistan’s economy: PM Shehbaz

Prime Minister Shehbaz Sharif on Thursday said the second phase of the China Pakistan Economic Corridor (CPEC) would help Pakistan transform its economy.

 “We are entering into the second phase of CPEC which has huge potential of mutual cooperation in the field of agriculture, Information Technology, mines and minerals and many other important areas of mutual interests,” the prime minister said while addressing an event organized by the Chinese Embassy here to commemorate China’s 75th anniversary.

He congratulated the Chinese government and its citizens, emphasizing China’s status as a global power and a vital partner in international affairs.

President Asif Ali Zardari, federal ministers, diplomats, dignitaries, and senior civil and military officers attended the event. Both leaders expressed their commitment to working collaboratively towards a prosperous future for both nations, underscoring the strength and significance of the Pakistan-China friendship.

 “The friendship between Pakistan and China is higher than the Himalayas and deeper than the oceans,” PM Shehbaz Sharif remarked, highlighting the inseparable bond between the two nations. The prime minister also acknowledged China’s critical role during the negotiations with the International Monetary Fund (IMF).

However, he stressed the need to develop in various fields including agriculture, industry and other areas to ensure development and prosperity in the country. He reiterated that the ongoing partnership not only fostered regional development and peace but also contributed to global stability and progress, aligning with President Xi Jinping’s vision. He also reaffirmed Pakistan’s support for China’s positions on international issues, including those related to Hong Kong and Taiwan.

He expressed gratitude for the warm welcome received from President Xi Jinping and the Chinese leadership during his recent visit to China, stating that the relationship between the two countries is indestructible and inseparable. The prime minister said the government was eager to welcome the the Chinese Prime Minister who will participate in Shanghai Cooperation Organization Council of Heads of Government (SCO CHG) meeting to be held in Islamabad. Chinese Ambassador to Pakistan, Jiang Zaidong on the occasion commended President Xi Jinping’s leadership in initiating a new era of development for China, transitioning from a deprived society to a prosperous one. He reaffirmed China’s dedication to working alongside Pakistan in the active implementation of its global initiative, which focuses on mutual development and shared cooperation.