ISLAMABAD (Agencies): The second phase of the China-Pakistan Economic Corridor (CPEC) has commenced with the facilitation of the Special Investment Facilitation Council (SIFC). The government is committed to collaborating closely with China on five new economic corridors under CPEC Phase II. These corridors are the Innovation Corridor, Livelihood Corridor, Green Energy Corridor, Regional Development Corridor, and Employment Creation Corridor.
Minister for Planning and Development Ahsan Iqbal provided further details, stating that these economic corridors are integral to CPEC Phase II and align with Pakistan’s ‘5Es framework, which focuses on exports, e-Pakistan, environment and climate change, energy and infrastructure, and empowering youth.
The Innovation Corridor aims to initiate new projects using modern technology and provide IT skills to the youth, fostering innovation and technological advancement. The Livelihood Corridor is designed to enhance the quality of life for the population by creating employment opportunities and improving living standards.
The Green Energy Corridor focuses on sustainable energy projects to address environmental challenges and promote renewable energy sources. The Regional Development Corridor aims to boost regional connectivity and development, enhancing infrastructure and economic integration within the region. Lastly, the Employment Creation Corridor is dedicated to generating job opportunities, particularly for the youth, to reduce unemployment and stimulate economic growth.
Minister Iqbal emphasized that the collaboration between Pakistan and China on these corridors represents a significant step in Pakistan’s economic development strategy. The SIFC’s role in facilitating these projects is seen as a guarantee for a secure and stable Pakistan, with the potential to attract increased foreign investment and foster industrial and commercial development.