Federal Minister for Planning, Development & Reform Makhdum Khusro Bakhtyar has said that the ongoing phase of China-Pakistan Economic Corridor (CPEC) will bring about socioeconomic benefits for the welfare of the people, noting that the bilateral framework agreement has now entered into the second phase with focus on poverty alleviation, agriculture and industrial cooperation.The federal minister was talking to Chinese ambassador Yao Jing who called on him at Islamabad on Friday. Deputy Chairman Planning Commission Mohammad Jehanzeb Khan, Secretary Planning Zafar Hasan, and senior officials of the Ministry were also present in the meeting. Minister stated that CPEC offers enormous potential to boost national economy and reduce poverty. The minister discussed future projects which would be included under CPEC including petroleum and petro chemical plant, dams, refinery and gas pipeline. The pace of CPEC projects has accelerated after the incumbent government came into power, said the minister.During the meeting, various matters related to CPEC projects and holding of the next Joint Cooperation Committee (JCC) which would be held in Islamabad in November came under discussion. The Chinese ambassador Yao Jing expressed satisfaction over the progress of CPEC projects and hoped that bilateral partnership between the two friendly countries will further strengthen in future.