About 110 migrants were crowded onto the small boat when panic broke out: Prefecture
Umar, who took charge of his ministry early this week, told a press conference on Saturday in the Karachi that initially nine Special Economic Zones will be established across the country with the first of its kind to be inaugurated in the northwest Khyber Pakhtunkhwa province soon, the Xinhua news agency.
The minister said the first phase of CPEC has already been completed successfully by improving infrastructure, establishing power plants and developing and operationalizing southwest Gwadar port and now the second phase is bringing cooperation in the social sector, agriculture development and industrial cooperation.
The minister rejected the notion that CPEC is increasing debt and made it clear to media persons that CPEC brought only $4.9 billion loan to Pakistan at the average interest rate of 2.34 per cent, which is comparatively very low, while the rest is an investment.
"CPEC did not put a burden on the Pakistani economy but helped it coming out of crises. CPEC brought a revolution in infrastructure and helped Pakistan in the financing," said the minister, adding that the project is not an aid but trade.
The minister told critics of CPEC to come forward and benefit from the investment opportunities under the project.
CPEC is an inclusive project as is the Belt and Road Initiative (BRI). Pakistan and the whole region can benefit from these projects if we establish a trend of cooperation and peace in the region, said Umar, who believed that the Chinese-proposed BRI can bring prosperity and sustainable development throughout the region.
The minister, who quit from finance minister's post in April this year, said China has been advancing in modern technologies in all sectors and that the Pakistani government has planned to benefit from the Chinese experience and expertise maximum.
About 110 migrants were crowded onto the small boat when panic broke out: Prefecture
‘A significant number of cars damaged during last week’s rains may not be covered for natural disasters such as flooding’
As normalcy resumes at the airport, a few volunteers would continue to be stationed at the airport for a few more days
Thousands of employees across the aviation sector worked together to restore operations and support guests at both DXB and DWC
With their luggage missing, the youngsters entered the competition without their UAE jerseys — but what they didn’t lack was the motivation to perform for the country
Addition of A380 significantly boosts Etihad's capacity in the US market, providing connections to Middle East and Indian subcontinent
Suhail underwent a six-month intensive treatment at Abu Dhabi’s Al Mushrif Children’s Specialty Centre
Amid easing tensions over the conflict in the Middle East, the focus will remain on the outlook for when the Federal Reserve may begin to ease policy rates