Peshawar - Advisor to the Chief Minister on Finance, Muzzammil Aslam, has emphasised that the second phase of the China-Pakistan Economic Corridor (CPEC) will usher in a transformative era of industrial and economic development in Pakistan.
Speaking at a seminar organised by the Chinese Cultural Center, China Window, and hosted by City University Peshawar, he highlighted the immense potential of this phase to reshape the country’s financial and industrial landscape.
The seminar, attended by a diverse audience including students, academics, and professionals, featured notable speakers such as educationist Dr. Khalid, Prof Dr Gulzar Jalal, President of the Women’s Chamber of Commerce and Industry Rabia Basri, and China Window Administrator Amjad Aziz Malik. The speakers shed light on CPEC’s strategic importance and the opportunities it brings to uplift the nation’s economy.
In his address, Muzzammil Aslam stressed the importance of leveraging the expertise of Chinese investors and industrialists to expedite Pakistan’s journey toward sustainable development. “Factories in the Rashakai Economic Zone are already operational, and their positive impacts will soon be evident,” he remarked, expressing optimism about job creation and economic uplift in Khyber Pakhtunkhwa. He added that these industrial projects would not only improve the provincial economy but also contribute significantly to Pakistan’s national growth.
Acknowledging shortcomings in the first phase of CPEC, the Advisor emphasised the need to restore investor confidence and ensure the security of Chinese stakeholders. With investments already reaching $30 billion and expected to surpass $60 billion, he called for practical measures to maximize the benefits of this historic initiative. “The onus lies on us to make the most of this golden opportunity,” he said, urging policymakers to adopt a proactive approach.
Muzzammil Aslam also highlighted the pressing issue of skilled labour migration, with an estimated 1.6 million workers leaving Pakistan in the last two years. He called for comprehensive planning to harness CPEC’s potential for economic and social growth. “It’s crucial that we build a skilled workforce to meet the demands of upcoming industries while ensuring employment opportunities for our youth,” he added.
Dr Khalid Khan underscored CPEC’s role as a cornerstone for Pakistan’s development, urging federal and provincial governments to accelerate its progress and address prior inefficiencies. Meanwhile, Prof. Dr. Gulzar and Rabia Basri emphasized learning from China’s success in poverty alleviation and integrated planning. They called for strategic measures to tackle challenges and ensure the project’s success.
The organisers of China Window reiterated their commitment to raising awareness about CPEC’s importance by organizing province-wide seminars to highlight China’s unwavering support for Pakistan’s development. They stressed that such initiatives would help foster stronger ties between the two nations while ensuring the public is well-informed about the benefits of this transformative project.
The event concluded with City University’s Dean of Health Sciences, Dr Ismail Khan, presenting shields to the distinguished speakers, acknowledging their contributions to fostering understanding of this monumental project. The seminar served as a platform to bridge gaps, inspire collaborative action, and instil hope for a brighter economic future.
With sincere efforts and unwavering commitment, the second phase of CPEC promises to be a game-changer, paving the way for Pakistan’s economic prosperity, industrial growth, and long-term development.