Karachi: China plans to launch 27 new projects in Pakistan under the second phase of the USD 60 billion China-Pakistan Economic Corridor (CPEC) this year, a media report on Friday quoted a senior Chinese diplomat as saying.
The ambitious CPEC links China’s Kashgar city in Xinjiang province with Pakistan’s Gwadar port in Baluchistan through a network of roads, railways and highways.
“There will be 27 new projects in the second phase of the CPEC,” said Consul General of China in Karachi, Wang Yu during a meeting organised by the Karachi Council on Foreign Relations on Thursday.
Following the signing of the memorandum of understanding between China and Pakistan for the second phase of CPEC earlier this year, work on these 27 new projects was expected to begin by the end of the year, the Dawn newspaper quoted Wang as saying.
“Agriculture, education, vocational training, industry, increase in water supply, etc, are all part of our plans for the next phase,” he said.
Replying to a question about investment from China, he said the last two to three months had seen more Chinese investors coming to Pakistan.
“They are eager to invest here but they also need to know that the investments they make are sound and that they will also earn money here and for this there is a need for a fine transport system for the transportation of goods, new airports, etc.
“We are here for business and trade, but we are not in a decision-making position,” he said.
Responding to a question about security, Wang said there was no economic development without security.
Education and employment is also affected by a lack of security, he said.
Also read: What China’s $26.5 billion investment for CPEC will cost Pakistan