CPEC Phase 2 as a path to economic development as it will bring transition to financial and industrial sectors of Pakistan.
Muzzammil Aslam, the Advisor to the Chief Minister on Finance, emphasized that the second phase of the China-Pakistan Economic Corridor (CPEC) will bring a transformative shift in Pakistan’s industrial and economic development. He highlighted the potential of this phase to reshape Pakistan’s financial and industrial sectors during a seminar organized by the Chinese Cultural Center, China Window, and City University Peshawar.
The seminar was attended by a diverse group of people, including students, professionals, and academics, with notable speakers such as Dr. Khalid, Prof. Dr. Gulzar Jalal, Rabia Basri, and Amjad Aziz Malik. The speakers discussed CPEC’s strategic importance and the vast economic opportunities it offers to Pakistan.
Muzzammil Aslam emphasized the importance of tapping into the expertise of Chinese investors and industrialists to fast-track Pakistan’s sustainable development. He mentioned that factories in the Rashakai Economic Zone were operational, and their positive impact would soon be seen in terms of job creation and economic progress, particularly in Khyber Pakhtunkhwa.
Acknowledging the shortcomings of the first phase of CPEC, the Advisor stressed the need to rebuild investor confidence and ensure security for Chinese stakeholders. He noted that CPEC investments had reached $30 billion and would likely exceed $60 billion, urging policymakers to adopt proactive measures to maximize the initiative’s benefits.
Muzzammil Aslam also addressed the issue of skilled labor migration, noting that around 1.6 million workers left Pakistan in the last two years. He called for strategic planning to leverage CPEC for both economic and social growth, stressing the importance of developing a skilled workforce to meet future industrial needs while providing employment for youth.
Dr. Khalid Khan emphasized that CPEC is pivotal for Pakistan’s development and urged both federal and provincial governments to accelerate progress and address previous inefficiencies. Prof. Dr. Gulzar and Rabia Basri highlighted China’s success in poverty alleviation and integrated planning, calling for targeted strategies to overcome challenges and ensure CPEC’s success.
The China Window organizers reaffirmed their commitment to raising awareness about CPEC’s significance by organizing seminars across the province. They emphasized that such efforts would strengthen bilateral ties and ensure the public understands the long-term benefits of the project for Pakistan’s development.
The event concluded with Dr. Ismail Khan, Dean of Health Sciences at City University, presenting shields to the speakers, recognizing their contributions in advancing understanding of CPEC. The seminar served as a platform to bridge gaps, inspire collaboration, and foster optimism for a prosperous economic future.
With dedicated efforts, the second phase of CPEC is expected to be a catalyst for Pakistan’s economic prosperity, industrial growth, and long-term development.
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