Pakistan's Minister for Planning, Development and Special Initiatives Ahsan Iqbal rejected the perception that the China-proposed Belt and Road Initiative (BRI) is a "debt trap," saying it distorts the spirit of the BRI.
"The local people can testify that it (the BRI) has had a very positive impact," the minister told media on Wednesday.
Appreciating China for extending the BRI to Pakistan in the shape of the China-Pakistan Economic Corridor (CPEC), he said that the CPEC has given Pakistan a great opportunity in the areas of energy, infrastructure, telecommunication, and industrial cooperation.
Under the CPEC, Pakistan's Gwadar Port is set to become a major trade and commercial hub in the region with its free zone and investment from Chinese companies, Iqbal said, adding that Pakistan can ship goods to China from Gwadar port in a shorter time owing to its strategic location and potential for trade.
The government's top priority is to attract more private sector investment in Pakistan, particularly in the mining sector which holds tremendous potential for value addition and development, he said.
The minister underlined that the progress and implementation of CPEC projects are being supervised, and the incumbent government is committed to completing the projects on time.
Editor: Galia
