ISLAMABAD
\nMinister for Planning, Development and Special Initiatives Ahsan Iqbal on Wednesday said that Pakistan and China launched a historic programme, China Pakistan Economic Corridor (CPEC) that was going to be a game changer for Pakistan economy but the PTI government in 2018 reversed the progress by hurling clueless allegations on the previous government.
\nSpeaking at a ceremony held here to celebrate China Pakistan Space Cooperation, the minister said that in 2013, China endorsed the friendship with Pakistan in real term as it approved that it truly was a friend in need. \u201cWhen no country was willing to invest even a single dollar in Pakistan, China agreed to invest $46 billion under CPEC and gave a message to the world that Pakistan was a safe haven for investment\u201d, Ahsan Iqbal added.
\nWithin three years, he said China invested $29 billion in the sectors which were in deep crisis such as energy and infrastructure. He said China helped Pakistan construct state of the art infrastructure, modern information highway fiber optical cable, Gwadar port besides utilizing long awaited Tharparkar coal for energy production.
\nSimilarly in 2017-18, the CPEC was entered to a phase where the world started looking at Pakistan. \u201cThe whole world was looking at Pakistan which was going to be the investment center in the region\u201d. Pakistan got and missed three golden opportunities to change its destiny. In 2018, he said the big Chinese companies had opened their offices in Islamabad. \u201cI was expecting at that time that in next five years, we will manage to attract $30-40 billion in private sector investment because the Chinese industry was relocating.
\n But unfortunately we failed to get benefit of the Chinese relocation.\u201d He said during the PTI government, all Chinese projects were scandalized, and clueless allegations were made and the result was that the Chinese companies started packing up their offices.
\nInstead of welcoming private sector investment from China to Pakistan, the government shook the Chinese confidence, he added. He said the space programme was also one of the major pillar of CPEC. In 2016, robot sensing satellite was signed and in 2018, Pakistan first robot sensing satellite was launched.
\nSimilarly in 2018, with collaboration of China we started Pakistan space center programme and for this we also allocated funds in the budget, Ahsan Iqbal added. The minister said that political instability and adventurism had been the biggest threat to Pakistan\u2019s economy. Professor Iqbal said that in order to earn policy dividends, there needed to be continuity as policies take root, grow, evolve, and start bearing fruits over a decade. Thus, policy efforts to expand a resource base in Pakistan (undertaken by the PML-N\u2019s government in its tenure) failed to bear fruits because they became a victim of political instability. <\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Wednesday said that Pakistan and China launched a historic programme, China Pakistan Economic Corridor (CPEC) that was going to be a game changer for Pakistan economy but the PTI government in 2018 reversed the progress by hurling clueless allegations on the previous government. Speaking […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-312571","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-top-news"},"yoast_head":"\n