Under the China-Pakistan Economic Corridor (CPEC), China has so far financed $14 billion in 30 early harvest projects. These projects will be completed under CPEC which is a flagship project of the “One Belt One Road” initiative. It was launched by Chinese President Xi Jinping.
Chinese Embassy Deputy Chief of Mission, Zhao Lijian was quoted as saying:
“Out of the 30 projects, 16 were under construction”
Additionally, he stated that some early harvest projects would be completed in the first half of 2018 whereas hydroelectric power projects would be accomplished in 2020.
Details of energy projects
While presenting the details of energy projects which are supposed to be completed in 2017, Zhao affirmed that 70% work on Sahiwal coal power project is completed. Moreover, the first unit of the project would start producing electricity in June 2017.
In addition to the aforementioned project, Port Qasim power project and the Dawood wind power project will be completed soon. As far as Karot hydroelectric power project is concerned, the work is currently in progress along with the assistance from Silk Road Fund.
While talking about different power projects, Zhao also articulated gratification at the speed of the work in energy, infrastructure, road and transport projects. Moreover, he stated that Chinese government had encouraged business investors and qualified companies to discover investment and trade opportunities to invest in the region.
The deputy chief of mission while talking about the employment opportunities stated that Karachi-Lahore motorway will create as many as 10,000 job opportunities for the people of Sindh and Punjab. He said that one of the world’s largest construction companies was working on Sukkur-Multan section of the Karachi-Lahore motorway.
For the construction of the $2.9 billion mega project, 20 camps have been established for the workers.
Speaking about the Karakoram Highway Phase-II project, Zhao ensured that the construction work is progressing well on the Thakot-Havelian section.
World Bank in its report had stated that Pakistan foreign reserves had climbed to whopping $22 billion. Moreover, the report also declared that economic growth in Pakistan in on the rise. Subsequently, it is an indication that CPEC is having a positive impact on Pakistan.
Zhao Lijian is hopeful about the good future between the two countries. He believes that CPEC will eventually prove to be fruitful for both countries. He further said that the project will bring ample number of opportunities for the people of both China and Pakistan. Besides, CPEC will also ensure health and educational facilities after its completion.
Do you think CPEC will prove to be a turning point in the upcoming years for Pakistan?
Source: Express Tribune