ISLAMABAD: Pakistan Economy Survey (PES) 2021-22 reveals the progress of China-Pakistan Economic Corridor (CPEC). Pakistan and China have successfully launched 56 projects on the ground.
Among them, 26 projects worth approximately $17 billion have been completed so far and 30 projects worth $8.5 billion are under construction. Moreover, 36 projects having an estimated cost of $28.4 billion are also under different stages of negotiations for inclusion in the CPEC framework.
According to PES 2021, Prime Minister Shehbaz Sharif is taking CPEC forward with new vigor, promoting the multifaceted development of the flagship project of China’s ambitious BRI.
While terming CPEC a “Gateway of Prosperity” for both countries and the region at large, the Government of Pakistan believes that CPEC has the potential to serve as a corridor with multiple doors connecting China with Central Asia, Middle East, Africa and Europe.
According to PES 2021, CPEC is being expanded in areas of Trade & Market Access; Industrial Development & Global Value Chains; Socio-Economic Development & Poverty Alleviation; Agriculture Modernization & Marketing; Sciences & Technology Cooperation; Blue Economy; Regional Connectivity & Third Country Participation.
CPEC Connectivity Projects: The Chinese and Pakistani workforce, in a large number, is employed to ensure timely completion of infrastructure projects and launch new projects such as Sukkur-Hyderabad Motorway (M-6), Peshawar-D.I. Khan Motorway (M-14), KKH Alternative Route (Gilgit-Shandur-Chitral), Swat Expressway (Phase-II), Dir Expressway and Karachi Circular Railways.
Transport and Infrastructure: The survey reveals that remarkable progress has been achieved so far in the Transport Infrastructure sector. Presently, Pakistan has 48 national highways, motorways, and strategic roads with a total length of 14,480 Km. –Agencies
