'CPEC vital for country's uplift'

From Abid Usman
Lahore: President Arif Alvi said that China Pakistan Economic Corridor (CPEC) is an important milestone in the journey of development and prosperity that would create new avenues and opportunities for trade and investment in the country.
President Arif Alvi was addressing the opening ceremony of the 5th China Agro Chemical Pakistan Summit at the Expo Center in Lahore on Thursday.
President Arif alvi expressed hope that the execution of the CPEC projects and the accomplishment of ‘one-road, one-belt’ plan will open new vistas of investment, trade, and technology in Pakistan.
He said that the Chinese investment in Pakistan in the various sectors will multiply the volume of trade and investment, usher new eras of prosperity and create employment opportunities.
On November 18, Planning Minister Khusro Bakhtiar said that under China Pakistan Economic Corridor’s (CPEC) next phase, the industrial base of the country would be expanded which would help in increasing the country’s exports.
Addressing the 3rd annual two-day conference on CPEC Consortium of Universities in Islamabad, President said the Chinese government is investing one billion dollars in the socio-economic sector in two years including cooperation in higher education.
The minister said that China has a total trade volume worth $4000 billion with the world; however, Pakistan has only $ 80 billion of trade with the global market.
The Chinese government has offered 20000 scholarships for Pakistani students to avail chances of higher education besides financing to build 1000 small schools in different areas of the country, he said.
“We have broadened the cooperation through CPEC, in areas of Socio-Economic Development, agriculture, industries, infrastructure, energy and people to people contact through the universities for enhancing the multilateral relations between the two countries,” added Bakhtiar.