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A senior Pakistani minister has admitted that the country has not been able to fully capitalize on the multi-billion dollar China-Pakistan Economic Corridor (CPEC) to boost its exports and attract Chinese investment. The acknowledgment comes amidst Pakistan's ongoing efforts to secure a new bailout package from the International Monetary Fund (IMF).

Speaking at a press conference, Federal Minister for Planning and Development, Ahsan Iqbal, stated that the primary objective of the second phase of CPEC was to stimulate growth in Pakistan's agricultural and industrial sectors. However, this goal has not been realized as anticipated.

Iqbal, who has been a key figure in the CPEC initiative since its inception, lamented the failure to attract Chinese industries to relocate to Pakistan. He emphasized that the intention behind establishing special economic zones was to draw this investment, which would, in turn, increase the nation's exports.

The minister's comments were made public in a report by the newspaper 'Dawn'. He highlighted that instead of enhancing local production and exports, Pakistan's markets have been flooded with Chinese goods. "Instead of our exports increasing, Chinese products took over our market," Iqbal remarked, pointing to a significant trade imbalance.

The statement is particularly noteworthy as Pakistan is currently in discussions with the IMF for a crucial financial assistance program. The nation's economic strategy and the performance of major projects like CPEC are under close scrutiny during these negotiations. The CPEC, a cornerstone of China's Belt and Road Initiative, was launched in 2015 and involves extensive infrastructure and energy projects throughout Pakistan. While it was hailed as a transformative project, its failure to deliver on key economic objectives is now being openly discussed by government officials


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Pakistan CPEC China-Pakistan Economic Corridor Ahsan Iqbal failed to benefit exports Investment Chinese industry imf bailout package special economic zones Federal Minister Planning and Development agricultural sector industrial sector Economic Growth Belt and Road Initiative Trade Imbalance Chinese goods Pakistani market government admission Economic Challenges Infrastructure projects energy projects International Relations Foreign investment Economic Policy trade deficit Financial Assistance international news South Asia economic development public statement press conference government official Economic Analysis national economy Import export policy industrialization job creation financial crisis international loan Strategic partnership regional development global economics Political economy News Analysis Government Accountability economic performance foreign relations bilateral trade पाकिस्तान सीपीईसी चीन-पाकिस्तान आर्थिक गलियारा अहसान इकबाल लाभ उठाने में विफल निर्यात निवेश चीनी उद्योग आईएमएफ बेलआउट पैकेज विशेष आर्थिक क्षेत्र संघीय मंत्री योजना और विकास कृषि क्षेत्र औद्योगिक क्षेत्र आर्थिक विकास बेल्ट एंड रोड इनिशिएटिव व्यापार असंतुलन चीनी सामान पाकिस्तानी बाजार सरकार की स्वीकारोक्ति आर्थिक चुनौतियां बुनियादी ढांचा परियोजनाएं ऊर्जा परियोजनाएं अंतर्राष्ट्रीय संबंध विदेशी निवेश आर्थिक नीति व्यापार घाटा वित्तीय सहायता अंतर्राष्ट्रीय समाचार दक्षिण एशिया आर्थिक विकास सार्वजनिक बयान प्रेस कॉन्फ्रेंस सरकारी अधिकारी आर्थिक विश्लेषण राष्ट्रीय अर्थव्यवस्था आयात निर्यात नीति औद्योगीकरण रोजगार सृजन वित्तीय संकट अंतरराष्ट्रीय ऋण रणनीतिक साझेदारी क्षेत्रीय विकास वैश्विक अर्थशास्त्र राजनीतिक अर्थव्यवस्था समाचार विश्लेषण सरकार की जवाबदेही आर्थिक प्रदर्शन विदेशी संबंध द्विपक्षीय व्यापार।