CPEC Phase-II to uplift infrastructure, says Asim Bajwa.

Byline: Rahul Basharat

ISLAMABAD -- Chairman China Pakistan Economic Corridor (CPEC) Authority Lt. Gen (retd) Asim Saleem Bajwa on Thursday said that timely completion of the CPEC Phase-II will uplift the infrastructure of the country.

He said this while addressing a signing ceremony of Business Cooperation Agreements in various fields between leading Chinese entrepreneurs and Heavy Mechanical Complex (HMC) in Taxila.

The Chairman CPEC Authority said that around 1870km railway track will be revamped in the CPEC phase-II, dry ports will be established and underpasses will be constructed at every railway crossing.

Lt. Gen (retd) Asim Saleem Bajwa also said that special economic zones will be established under the CPEC in every province as it will bring economic prosperity in the country.

He also said that the role of HMC will become significant in the upcoming phase under CPEC as it will manufacture the agriculture machinery to boost the sector. He also said that CPEC is a reflection of brotherhood between China and Pakistan and cordial relations between both countries have never remained restricted to any particular government.

He said that created with the techno-financial assistance of our real-time friend China, the HMC has been serving the nation for the last five decades.

The chairman CPEC Authority added that HMC has excelled in versatile fields right starting from assimilation of technologies and spreading this knowledge to establish a strong industrial base, predominantly to focus on the development of engineering and capital goods industry.

'It is a considered fact that industrialization in developing countries is not a matter of choice any more. To achieve that end they need to develop their engineering sector industries to meet requirements of plant, machinery and other vital inputs,' said Gen Asim Saleem Bajwa.

In terms of benefits, the engineering industry provides maximum employment opportunities per unit of capital investment, maximum value addition and foreign exchange saving through import substitution.

'I feel delighted to learn about the continued self sustainability of HMC under the ambit of Strategic Plans Division (SPD) and Pakistan Atomic Energy Commission (PAEC), who has chalked out its medium and long term business plans envisaging futuristic growth of this vital entity to serve more proactively not only general industrial economy but also the defence sector of Pakistan,' he said.

Gen. Asim Bajwa also said that in...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT