Ist-phase Of CPEC Added 8,000MW Electricity In National Grid: Ahsan Iqbal

Mohammad Ali (@ChaudhryMAli88) Published June 28, 2024 | 11:32 PM

Minister for Planning, Development, and Special Initiatives Professor Ahsan Iqbal said on Friday that mega infrastructure development projects were completed in the first phase of the China-Pakistan Economic Corridor (CPEC) projects and added 8,000 MW of electricity to the national grid

ISLAMABAD, (UrduPoint / Pakistan Point News - 28th Jun, 2024) Minister for Planning, Development, and Special Initiatives Professor Ahsan Iqbal said on Friday that mega infrastructure development projects were completed in the first phase of the China-Pakistan Economic Corridor (CPEC) projects and added 8,000 MW of electricity to the national grid.

Addressing a high-level policy dialogue organized by the Belt and Road Investment Forum, the minister said the world is undergoing significant change, noting that Asia's share of global GDP was 13 per cent in 2000 and reached 35 per cent last year.

He projected that by 2035, Asia would contribute 50 per cent to global GDP, emphasizing the need to establish the region as a hub of peace, stability, and prosperity. The minister highlighted CPEC as a flagship project of the Belt and Road Initiative, offering substantial benefits to the country.

He underscored the importance of developing links between South Asia, China, Central Asia, and the middle East, suggesting Pakistan could create North, South, and East connectivity corridors to explore regional trade and investment opportunities.

Speaking at the event, Finance Minister Mohammad Aurangzeb described the first phase of CPEC as focused on infrastructure development such as roads, electricity, and ports. He noted that the second phase aims to attract investment built upon this foundational infrastructure.

The high-level policy dialogue of the Belt and Road Investment Forum was attended by diplomats from neighbouring countries, government officials, experts, and private sector leaders. Among others, ambassadors from China, Saudi Arabia, Turkey, Kazakhstan, Turkmenistan, and Uzbekistan in Pakistan were present.

The Belt and Road Investment Forum, the first regional economic forum led by the private sector, was jointly hosted by the Embassy of China in Pakistan in consultation with the Ministry of Planning.