ISLAMABAD    -    Federal Minister for Planning Ahsan Iqbal has said that CPEC Authority created bureaucratic and structural impediments that brought China Pakistan Economic Corridor (CPEC) to standstill and the decision to shelve the Authority hinges on the incumbent government’s resolve to restore progress of the corridor projects.

“The upcoming projects between Pakistan and China will be based on the green economy and in energy sectors as the incumbent government is planning for renewable energy projects,” Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal said while speaking at a dialogue titled “CPEC-Green Development organised by Sustainable Development Policy Institute (SDPI) on Thursday.

He said that the government has succeeded in bringing out the country’s economy from the red zone and now working its recovery while expediting the CPEC projects.

Ahsan Iqbal said that Pakistan has found its path of stability and the world’s opinion about Pakistan has been changed.

As per Chinese President Xi’s vision of CPEC Pakistan is willing to support & prioritise those projects which favour and promote green economy, he added. The minister said that environment and climate change are important sectors and creating impacts worldwide. Despite of our low carbon footprint, we are still one of the most vulnerable to the climate crisis.

“In April 2014, when President Xi visited Pakistan, $46 billion cooperation agreements were signed and the whole world began to look at Pakistan as a potential investment destination.” However, he said that it was unfortunate that during last four years not a single CPEC project was completed. “We are now trying to fast track this initiative particularly the construction of Industrialisation Zones which were shelved by the previous government.

The political stability, social solidarity & continuity of policy are important pillars for achieving development and progress for any country, said the minister while reiterating that the government will complete all CPEC projects without any further delay.

Later, talking to the media, the minister said that the CPEC Authority was established by the previous government to promote cronyism. The CPEC Authority remained dormant and failed to bring any investment lead it to become white elephant, he added.

The minister further said that CPEC Authority created bureaucratic and structural impediments that brought CPEC projects to standstill. The decision to shelve the authority hinges on our resolve to restore the progress over the performance and implementation of CPEC projects that we were making from 2013 to 2018, he added.