Caretaker Prime Minister Anwaarul Haq Kakar announced on Wednesday that Pakistan is currently gaining the benefits of the initial phase of the China-Pakistan Economic Corridor (CPEC). During an interview with China Global Television Network (CGTN) at the World Economic Forum in Davos, the Prime Minister revealed ongoing discussions with China for the subsequent phase of CPEC, noting that the second phase would require road and air connectivity around industrialization projects.
“We have already achieved the CPEC’s first phase, and we are benefiting from its early harvest projects. We are entering the second phase. We do need more deliberations when it comes to the second phase,” said Kakar during the interview.
The Prime Minister highlighted the significant economic ties between China and Pakistan, describing China as a vast marketplace that remains connected to the rest of the world. He emphasized the importance of maintaining connectivity with the 1.5 billion consumers and 1.5 billion producers in China, and the global population of 8 billion.
In terms of priorities for the caretaker government, Prime Minister Kakar outlined a focus on economic revival, technological transformation, and taxation reforms. He positioned Pakistan on the middle ground amidst global discourse between the northern and southern hemispheres, as well as regional conflicts.
Domestically, Kakar stressed the importance of fiscal responsibility, suggesting that the government should earn more and spend less. He advocated for policies supporting businesses, including competitive electricity prices to enhance the production of export-oriented goods. Special Economic Zones (SEZs) and policies aimed at attracting foreign direct investment were also mentioned as key areas of focus.
Responding to a question about the upcoming general elections, Prime Minister Kakar expressed well wishes for the contestants and hoped that economic revival would be a central part of their respective agendas.