Pakistan and China have launched 56 CPEC worth billions of dollar projects: Economic Survey

Islamabad: At least 56 projects worth billions of dollars have been successfully launched by Pakistan and China so far under the China-Pakistan Economic Corridor (CPEC), said the Economic Survey 2021-22 released by the government.

Out of these projects, 26 projects worth approximately US$17 billion have been completed so far and 30 projects worth US$8.5 billion are under construction, said the Economic Survey 2021-22 said.

About 36 projects having an estimated cost of US$28.4 billion were also under different stages of negotiations for inclusion in the CPEC framework.

This tremendous progress is a sign of great efforts and achievement of both the nations and realization of the dream of connectivity and inclusive economic growth, said the official document.

The government of Pakistan considers CPEC as a long-term development project as it has the potential to serve as a corridor with multiple doors connecting China with Central Asia, middle East, Africa and Europe, it said.

The government is expanding the scope of CPEC so that it becomes a “Gateway of Prosperity” for both countries and the region at large, it added.

Moreover, the Chinese and Pakistani workforce, in a large number, is employed to ensure timely completion of the infrastructure projects and launch new projects such as Sukkur-Hyderabad Motorway (M-6), Peshawar-Dera Ismail Khan Motorway (M-14), KKH Alternative Route (Gilgit-Shandor-Chitral), Swat Expressway (Phase-II), Dir Expressway, Karachi Circular Railways.

In the transport infrastructure sector, remarkable progress has been achieved so far. On the Eastern Alignment, Sukkur-Hyderabad (M-6) section has been proposed on Public-Private Partnership (PPP) mode. The new projects including Dera Ismail Khan-Peshawar Motorway, (Swat Expressway Phase-II, Dir Expressway have been proposed for inclusion in the CPEC.

The survey reads that the Pakistani government was committed to upgrade the transportation and communication system with the development of new roads, highways motorways, railway tracks and airports to improve connectivity under CPEC.

The CPEC is pragmatic step for converting unique geo-strategic location of Pakistan into geo-economics through various transport related projects that would transform road infrastructure of Pakistan and improve access to central Asian, African and European states, it added.