CPEC a game changer for South Asia region: Sharif

From Sajjad Hussain Islamabad, Aug 29 (PTI) The USD 46 billion China-PakistanEconomic Corridor (CPEC) would be a "game-changer" forPakistan as well as for the entire South Asia region, PrimeMinister Nawaz Sharif said today. Addressing the inaugural session of CPEC Summit and Expoat Pak-China Friendship Centre here, Sharif said CPEC is a newapproach in development based on shared goals and aspirationsas it is based on a unique model of economic development andinternational cooperation. "The project would be a ‘game-changer’ for Pakistan andfor the entire region of South Asia," he added. "Our region has witnessed a lot of conflict anddeprivation in the past. Time has come to turn a new leaf inthe history of the region by bringing peace and prosperity andaddressing the challenges of poverty, unemployment andunder-development," he said. "USD 46 billion is the economic value but the overallcontribution and impact of CPEC would be much deeper andfar-reaching," he said. He said CPEC will "not only create a strong overland linkbetween Pakistan and China but also give us opportunity tostrengthen Pakistan’s own inland transportation and logisticsinfrastructure". More than ten billion dollars will spent be on railwayprojects as well as rail infrastructure in Pakistan. Similarly, CPEC will be addressing Pakistan’s energycrisis as projects worth USD 35 billion are envisaged inPakistan in the energy sector. He said CPEC will enable Pakistan to benefit greatly fromknow-how, ingenuity, innovation and time-tested expertise ofChinese industry. The CPEC was launched in 2015 when Chinese president XiJinping had visited Pakistan. The project involves several infrastructure and powergeneration schemes to link north-western China with Gwadar seaport in Balochistan. PTI SH SUA AKJSUA