CPEC Phase-II to revamp infrastructure, create jobs: Asim Bajwa

TAXILA: Chairman China-Pakistan Economic Corridor (CPEC) Authority Lt. General (retired) Asim Saleem Bajwa on Thursday said the second phase of CPEC will help revamp the basic infrastructure of the country and create job opportunities.

Addressing an agreement signing ceremony between CPEC Authority and Chinese companies, he said the phase-II of the mega project has been started, which will provide further investment opportunities to foreign investors in Special Economic Zones.

The Chairman CPEC Authority said the agreement will boost foreign investment in the mega project leading to prosperity in the region.

He said all projects under the first phase are being completed on fast track basis. He said 80 energy projects have been completed while nine projects are under completion. He said two energy projects will also be part of phase-II.

Bajwa invited foreign entrepreneurs to invest in Special Economic Zones in Pakistan. He said foreign investment will enhance job opportunities and help increase exports and decrease imports.

He said new railway tracks will be constructed and existing ones will be extended under phase-II, which will help improve the performance of Pakistan Railways.

Earlier, CPECA Chairman General (retd) Asim Saleem Bajwa rejected the impression that the CPEC projects are being slowed down.

“Some detractors giving false impression of #CPEC being slowed. Not only pace of work on projects picked up recently, a great deal groundwork done to launch phase-2,” he said in a statement on Twitter.

Bajwa said a number of projects under the CPEC are in the pipeline, including $7.2 billion ML-1, two hydel power projects worth $3.5 billion, special economic zones, and agricultural schemes.

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