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ISLAMABAD: Chinese Ambassador to Pakistan Sun Weidong has said that China-Pakistan Economic Corridor (CPEC) is a win-win project for both the countries and China always wants to see Pakistan as a strong, stable and developed country.

The Chinese ambassador expressed these views while speaking on ‘Pakistan-China Relations: CPEC and Beyond CPEC’ which was organised by Institute of Policy Studies (IPS), Islamabad, on Thursday. The session was chaired by Leader of House in the Senate, Raja Zafar-ul-Haq.

The ambassador said that the CPEC has entered the stage of producing some early harvest. Among the projects with the total worth of $18.5 billion investment, the projects pertaining to energy have been at the forefront with six projects in progress and five have already been built, he said.

He said the speed of the completion of Sahiwal Coal Power Project has been a record in Pakistan and it is expected that the completion of all eleven energy projects will add about 11000megawatts of electricity to the national grid, eventually significantly alleviating the energy shortage in the country and adding strong impetus to the country’s economic development.

The ambassador termed the construction of road connections was another vital area of investment by the diplomat, stating that the up-gradation of Karakoram Highway and the highway from Peshawar to Karachi will unlock the transportation arteries in Pakistan that will effectively stimulate economic vitality.

The ambassador said that social impacts constitute another emerging area, with about 60,000 Pakistani workers already employed by Chinese enterprises under and outside the umbrella of the CPEC as per some statistics. The Chinese companies, according to the ambassador, were not only bringing the investment as well as the tax revenue to Pakistan, but also playing an important role in transforming local populations into skilled and productive workforce in numerous areas.

Sun said that such contributions by the Chinese organisations will eventually result in the development and transformation of complete industry chain in Pakistan.

He also commented about the ongoing situation of academic exchanges between the two countries, stating that around 18,000 Pakistan students were studying in China, whereas the number of Pakistani students enjoying scholarships by the Chinese government has soared to nearly 10 percent of the total offerings.

He also stated that Pakistan’s trade deficit in this regard is already improving. According to him, a special delegation of investors is on visit to Pakistan at present with a view to taking Pakistani products into the Chinese markets.

Raja Zafar-ul-Haq said that Pakistan was keen to share with Chinese friends the advantages accruing from the country’s strategic position at the crossroads of Central Asia, South Asia, and West Asia, adding that it also feels indebted to its northern friend for its cooperation that has fueled progress and growth in Pakistan in all important areas of energy, infrastructure, science and technology, manufacturing, electronics, transport, construction, mining, etc.

The PML-N leader said that while the two countries shared common interests and aspirations of mutual growth and development, the significance of this strategic partnership – that will serve as a pivot for regional connectivity, peace and stability – will eventually extend and benefit everyone far beyond.

Earlier, Executive President IPS Khalid Rahman said in his opening remarks that it is important to note that the adversaries of China and Pakistan – both from within and outside – are targeting the spirit of mutual trust and understanding between the two nations by coming up with many negative themes such as trade imbalance, terms of investment, increased flow of Chinese workers in Pakistan, costs of the projects involved and their security and strategic dynamics of the infrastructure being built as part of the CPEC.

He said that though it is not unexpected in this age of perception management, it necessitates a continuous emphasis on the elements which have led to the strong bond of relationship between the two countries and a prerequisite to take it to newer heights.