China Pakistan Economic Corridor(CPEC) in recent months ; updates
China’s need to build a corridor to connect china with deep water ports of Pakistan dates back to 1955.The Silk Road Economic Belt and the 21st-century Maritime Silk Road, also known as The Belt and Road Initiative is a furtherance of that interest.Now its a part of china’s new development strategy and framework which was proposed by Chinese paramount leader Xi Jinping .
This project is focused on connectivity and cooperation among countries primarily between the People’s Republic of China and the rest of Eurasia.Share of investment of this project in Pakistan is of 51.5 billion USD. According to an estimate this project will create 700,000 new jobs in Pakistan and will add almost 2 to 2.5 points to GDP of Pakistan
CPEC mainly comprises of following projects Highway projects ,Railway projects, Transmission line in Lahore and Faisalbad , Coal power projects in; sahiwal and Rahim yaar khan (Punjab), Port Qasim and Thar (sindh), Hub (Baluchistan); Solar park bhawapur (Punjab) Wind farms in Jimpir and Bhambore (sindh), Hydro station (KPK AJK and Punjab).In all, these project is spread equally among all provinces equally
Recently Fata representative arranged a sitting outside KPK Assembly on 28 September 2016. Protesters Professed that CPEC plan is modified and concentration of the plan is diverted to Punjab only. In response to the protest on 8 october 2016 Federal Minister for Planning, Development and Reform Ahsan Iqbal said No changes have been made in the route of the China-Pakistan Economic Corridor (CPEC).This has also been discussed in Senate assembly.
New developments in recent dates
- The construction of East-bay expressway of the Gwadar Port and also work on gwadar international air port is likely to commence in second/third quarter 2016 . Though yet there is no update that work has been commenced from Gwadar Port Authority.
- Financial closure of HUBCO coal power plant Hub Balochistan is Expected in December2016.
- Commercial operation have been initiated on following projects : UEP 100MW wind Farm, Jhimpir, Sindh,Port Qasim Electric Company Coal Fired, 2×660, Sindh( Expected in first quarter of 2018)
CECP is a very important project for the economy of our country .Whether developments take place in any part of our country, in aggregate,we all are going to benefit.we request electronic media to keep the nation update with the details of the project.The project is meeting the deadline yet and hopefully will keep doing well in future too.Share