Lahore: The China-Pakistan Economic Corridor (CPEC) has entererd its second phase, a news source quoted Federal Minister for Planning, Development, & Reform Makhdoom Khusro Bakhtiar as saying. Further, he said that the second phase would primarily focus on the development of business-to-business (B2B) initiatives, industrial cooperation, agriculture, and poverty alleviation.
In a meeting with Australian High Commissioner Dr Geoffrey Shaw, the minister said that CPEC’s phase two would introduce socioeconomic benefits for the people. Stressing on the importance of CPEC as a game-changer for the region, he said that the multi-billion dollar initiative had the potential to boost economy and reduce poverty. He also discussed foreign investment and bilateral relations – especially pertaining to Gwadar – with the high commissioner.
The minister opined that the government’s corrective measures were enhancing the investors’ confidence, which would help strengthen the country’s economy. He told the high commissioner that they were also focusing on the promotion of tourism, agriculture, ICT, and artificial intelligence; along with prioritising infrastructural development in less-developed areas.
In response, Shaw appreciated the government’s efforts aimed at launching multiple socioeconomic welfare initiatives. He also lauded the executive’s efforts for achieving sustained development and economic growth.
