Private sector should play leading role in construction of CPEC: Pakistani minister

Private sector should play leading role in construction of CPEC: Pakistani minister said addressing High-Level Private Sector Dialogue virtually.

Pakistani Finance Minister Muhammad Aurangzeb emphasized that the private sector should take the lead in the second phase of the China-Pakistan Economic Corridor (CPEC), during a virtual address at the High-Level Private Sector Dialogue. He noted that while the first phase focused on infrastructure, the second phase will focus on monetizing that infrastructure.

He also highlighted Pakistan’s stabilizing macroeconomic situation, with inflation easing, providing a solid foundation for CPEC’s second phase. Aurangzeb expressed optimism about the IMF board’s approval of a 37-month Extended Fund Facility worth $7 billion, thanking China for its support as a longstanding partner.

Khalid Mansoor, former special assistant on CPEC, showcased potential private-sector projects in sectors like agriculture, textiles, IT, and mining. He emphasized that these projects should reduce imports, boost exports, and create much-needed jobs.Chinese Ambassador to Pakistan, Jiang Zaidong, acknowledged Pakistan’s strengths in geography, human resources, and natural assets, praising the government’s recent achievements under Prime Minister Shehbaz Sharif. He reaffirmed China’s commitment to working with Pakistan for sustainable development.

The event attracted a wide audience of entrepreneurs, media, and diplomats, reflecting high interest in CPEC’s future. Launched in 2013 as part of China’s Belt and Road Initiative, CPEC originally emphasized energy, transport, and industry, while the second phase expands into agriculture and livelihood sectors.