36 projects under CPEC valued at US $ 24 billion completed, minister tells Senate

Islamabad: Caretaker Minister for Planning, Development, and Special Initiatives Muhammad Sami Saeed told the Senate that 36 projects under the China-Pakistan Economic Corridor (CPEC) valued at US $ 24 billion had been completed.

He also highlighted the ongoing construction of 22 projects with a total investment of US $ 5 billion.

During a Senate debate addressing the underdevelopment of Balochistan, the minister spoke about growth through CPEC and Foreign Direct Investment (FDI) and provided additional insights.

He informed that negotiations were in progress for 26 projects, amounting to US $ 27 billion under the CPEC framework with China. Simultaneously, he said, 27 projects dedicated to Balochistan’s social and economic development are actively underway.

The minister emphasized the significant allocation for Balochistan in the Public Sector Development Programme (PSDP). He maintained that out of the total Pakistani Rs 950 billion budget for the current year, Rs 400 billion was allocated to national projects.

He mentioned that Balochistan received a higher share compared to other regions, with 15 percent of the program dedicated to the province and an additional 14 percent for province-specific projects.

“This totals to one-third of the PSDP, amounting to Rs 285 billion, specifically earmarked for projects related to connectivity, roads, water, and various dam projects in Balochistan,” he elaborated.

Saeed said the development of Gwadar City and Gwadar Port remains a central focus within the CPEC framework.

Saeed shared specific details regarding Gwadar, including the completion of the master plan for Gwadar City, advancements in the East Expressway, and the anticipated completion of an international airport in June, showcasing substantial progress in the region.