KARACHI: Prime Minister Shahid Khaqan Abbasi and Minister for Planning Ahsan Iqbal arrived at a two day summit being held in Karachi’s Bagh-i-Jinnah on the Chinese Pakistan Economic Corridor (CPEC). Prime Minister Abbasi is the chief guest at the event and is set to deliver his address at the summit. Planning Minister Ahsan Iqbal, meanwhile, addressed the audience and highlighted the progress the incumbent government has achieved while in charge of the country. He also said that the holding of this event highlighted how Karachi was transforming; in 2013 when the PML-N came to power, he argued, Karachi was plagued by target killings and extortion. Ahsan Iqbal also touched upon China’s Belt and Road Initiative and said that Pakistan would become a hub of development through the Initiative. Chinese Ambassador Yao Jing also graced the event with his presence, and addressed the summit. “We have combined socialism with a market economy to benefit the people,” Mr Yao Jing said. He further added, “China wants to see its relationship with Pakistan serve as an example for its relations with other states. We look at CPEC as a significant project. I’m proud that after five years of implementation, CPEC has contributed to Pakistan’s development.” A symposium, “The dynamics of Economy and Finance”, preceded the inauguration ceremony. The discussion featured, among others, former State Bank governor Ishrat Husain and former finance ministers Shaukat Tarin and Abdul Hafeez Shaikh. The highlight of the second day will be a session titled “The View from China”, for which the Chinese Ambassador is to be the main speaker.