'No investment was brought by the CPEC body'

Pakistan: Prof Ahsan Iqbal, Federal Minister for Planning, Development, and Special Initiatives praised China's continued support for Pakistan on Thursday, saying Beijing has been supporting infrastructure development since President Xi Jinping announced $46 billion in investment under the China-Pakistan Economic Corridor during his visit to Islamabad in 2014. (CPEC).

However, for the second day in a row, the minister chastised the CPEC Authority, claiming that the entity has failed to attract any investment since its inception three years ago, according to APP. 

According to a news report published on Wednesday, he has called for the dissolution of the CPEC Authority.

In an interview with journalists on Thursday, he stated that "not a single dollar has been invested" in the CPEC project since the establishment of this authority.

The CPEC Authority was established in 2019 to ensure continuous progress on its projects and coordination between the departments involved.

Mr Iqbal claimed that the CPEC project had previously received a $29 billion investment.

"That is why, from 2013 to 2019, we will use the same mechanism to ensure that this project is implemented as effectively as possible."

He revealed that China had agreed to increase its investment in the CPEC project.

Earlier, speaking at the 'China-Pakistan Economic Corridor Green Development High-Level Policy Dialogue' organised by the Sustainable Development Policy Institute (SDPI), Mr Iqbal stated that the CPEC agreement resulted in a $29 billion investment inflow.

According to China's Ambassador to Pakistan, Nong Rong, the Belt and Road Initiative and CPEC are focused on long-term initiatives in green infrastructure, green energy, green finance, and modern agriculture.

Separately, a Chinese Foreign Ministry spokesperson told APP on Thursday that CPEC was an important pilot project under the Belt and Road Initiative, and that China would continue to work with Pakistan to ensure that the cooperation's outcomes were better delivered to the Pakistani people.

"It focuses on the development and people's livelihoods, and it has broad command and recognition from the outside," Wang Wenbin said during his regular briefing.

(Source: Dawn)