Business group calls for acceleration of China-Pakistan Economic Corridor projects

A Pakistani business group has called for the "swift and timely" execution of projects under the China-Pakistan Economic Corridor (CPEC) as they said that these were vital for Pakistan's economic prosperity and industrial growth.

Key trade and business figures met at the first meeting of the Federation of Pakistan Chamber of Commerce & Industry (FPCCI) in Pakistan's capital Islamabad on Monday, according to The CPEC Daily, a news website focusing on the CPEC.

Saud Faisal Malik, CEO of The Daily CPEC and convener of the FPCCI committee, said at the meeting that the timely execution of these projects goes beyond infrastructure development and energy growth. It is also a crucial driver of job creation and a means to unlock new economic opportunities, he said.

"One of our key priorities is to attract more investment into Pakistan as CPEC offers unparalleled opportunities in sectors like education, technology and industrial development.

"We will work on formulating recommendations for incentivizing investments, including tax incentives, streamlined regulatory processes and investment-friendly policies," he added.

The CPEC, launched in 2013 as part of China's Belt and Road Initiative, is a major infrastructure program linking China and Pakistan. 

In a speech in December 2024, Chinese Ambassador to Pakistan Jiang Zaidong said Chinese investment in CPEC had reached $25.4 billion. He said CPEC has helped to create 236,000 job positions, build 510 kilometers of highways and generate 8,000 megawatts of power.

(Cover: An aerial view of Gwadar Port, Pakistan. /CFP)