Pakistan PM says China helped revive Pak economy

Pakistan's Prime Minister Nawaz Sharif speaks at the inauguration of the China Pakistan Economic Corridor port in Gwadar, Pakistan November 13, 2016. [Photo/Agencies]

ISLAMABAD -- Pakistan Prime Minister Nawaz Sharif on Wednesday told a meeting reviewing progress on China-Pakistan Economic Corridor (CPEC) that China has helped Pakistan revive its economy in difficult time.

The meeting reviewed at length the benchmarks set for numerous energy, transport infrastructure and industrial projects in terms of deliverables with particular focus on development of the Gwadar Port in Balochistan Province along with socio-economic uplift projects in Gwadar, the Prime Minister Office said.

"Pakistan's economy was in shambles in 2013 when the present government came into power. It was China that supported and helped us in the economic revival at such crucial juncture for which the government and people of Pakistan are indebted to the Chinese leadership and people of China," Sharif said.

"The visionary Chinese leadership supported us in translating the idea of CPEC into reality," he said, according to a statement issued by the PM office.

While highlighting the significance of CPEC, Sharif said that the Chinese initiative is significantly attracting the world in general and regional countries in particular.

"CPEC has changed the negative security narrative into an exceedingly positive economic narrative for Pakistan," Sharif said, adding that "the successful implementation of the projects under the umbrella of CPEC is a manifestation of the strong and time-tested friendship between China and Pakistan; the success of CPEC has been substantiated by the massive and further expanding foreign investment in Pakistan."

"There is a compelling reason for international investors for investments in Pakistan because of the success story of CPEC initiatives," said the Prime Minister.

The meeting was briefed that energy projects under the CPEC including coal, hydel, wind, solar as well as transmission lines are on track. Besides, infrastructure projects including road, rail, aviation and data connectivity are also being executed simultaneously on fast track basis.

The Prime Minister reiterated that no region or territory must be left behind in reaping the benefits of CPEC and the meeting emphasized that local population must be given priority while giving incentives for industries.

The meeting was also briefed on the steps already in place for the safety and security of Chinese workers working on CPEC projects.

"Our endeavors have started yielding substantive results; our continuing efforts in the completion of CPEC projects will transform the socio-economic landscape of Pakistan where no one will be left behind in getting the multiple benefits," Sharif stated.