Islamabad: Minister for Planning and Development Asad Umar on Monday said that the infrastructural development projects slated for completion under the China-Pakistan Economic Corridor (CPEC) project Phase II would encourage and promote trade of goods and services in 2020, a news source reported.
He mentioned that early harvest projects completed in CPEC Phase I filled the infrastructure gap with focus on transport and energy sector. The projects expected to increase economic activity in 2020 include Karakoram Highway Phase II, Sukkur Multan Motorway and Havelian-Thakor Motorway. Development of these roads will reduce transit time and thus promote trade activities.
He also revealed that the Pakistan Railways Main Line-I (ML-I) project would be launched in 2020 to improve the railway network for trade. The minister also mentioned that the benefits of CPEC would start to trickle down into industry and agriculture sector in 2020.
He stated that CPEC’s Phase II would focus on increased agricultural production, tourism promotion, industrialisation, and socio-economic development of Pakistan.
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