 "Pakistani Prime Minister, Nawaz Sharif")
The $46 billion China-Pakistan Economic Corridor (CPEC) would be a game-changer for Pakistan as well as for the entire South Asia, the Pakistan Prime Minister Nawaz Sharif said on Monday.
Addressing the inaugural session of the CPEC Summit and Expo at Pak-China Friendship Centre in Islamabad, Sharif said the CPEC is a new approach in development based on shared goals and aspirations as it is based on a unique model of economic development and international cooperation.
"Our region has witnessed a lot of conflict and deprivation in the past. Time has come to turn a new leaf in the history of the region by bringing peace and prosperity and addressing the challenges of poverty, unemployment and under-development," he said.
"$46 billion is the economic value but the overall contribution and impact of the CPEC would be much deeper and far-reaching," he said.
He said the CPEC will not only create a strong overland link between Pakistan and China but also give us opportunity to strengthen Pakistan's own inland transportation and logistics infrastructure.
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More than $10 billion will be spent on railway infrastructure as well as projects in Pakistan.
Similarly, the CPEC will be addressing Pakistan's energy crisis as projects worth $35 billion are envisaged in Pakistan in the energy sector.
He said the CPEC will enable Pakistan to benefit greatly from know-how, ingenuity, innovation and time-tested expertise of the Chinese industry.
The CPEC was launched in 2015 when Chinese president Xi Jinping had visited Pakistan.
The project involves several infrastructure and power generation schemes to link north-western China with Gwadar sea port in Balochistan.
