Federal Minister for Planning and Development Ahsan Iqbal, upon taking charge of his office on Tuesday, emphasized the integration of digital technology across all sectors and announced the initiation of five new corridors with China under the China-Pakistan Economic Corridor (CPEC) project.

Addressing the media, Iqbal noted that this marks his fourth tenure in the ministry, with past plans often disrupted by political instability. "No country can progress without consistent policies. We are now in an era dominated by digital technology, necessitating the incorporation of new production systems into every sector," he stated.

He highlighted the significant opportunities presented by phase two of CPEC, asserting that the coalition government has regained China's confidence in the project. "We are prepared to launch five new corridors with China as part of CPEC, implementing their offers with unwavering determination," he declared.

Iqbal also mentioned the substantial Chinese investment of $25 billion in the first phase of CPEC, while expressing concern over Pakistan's economic challenges. "Our budget relies heavily on loans, with over Rs7.5 trillion needed for debt repayment, excluding running expenses, salaries, pensions, and subsidies, which are also funded through additional borrowing," he explained.

The minister's remarks underscore the critical need for stable policies and technological advancement to drive national development.