China Pakistan Economic Corridor on track despite pandemic

WITH over US$25 billion already invested in it, Pakistan's huge China Pakistan Economic Corridor (CPEC) project is on track despite the pandemic with work in progress on many of its components, says Rukhsana Afzaal, Pakistan's High Commissioner in Singapore.

"A joint working group on information Technology was also established. CPEC has so far created 75,000 jobs and mobilised investment of US$25.4 billion. The project is on track despite the pandemic with work in progress on motorways, transit and transmission lines."

The Rashakai and Dhabeji SEZs and Allama Iqbal Industrial City have been completed creating 200,000 jobs. Ten power projects with installed capacity of 5,320 MW and a total investment of about US$9.875 billion have been put into operation and four are currently under construction.

CPEC power stations provide one third of the total power supply for Pakistan. The Development Plan for Oil and Gas Sector has been finalised and China will support Pakistan in attracting international investors to foster future development, Afzaal tells BT.

"Progress of Gwadar Port and Free Zone is satisfactory and it is already being used for the processing of Afghanistan transit trade. Gwadar Free Zone has attracted multiple investors, with 46 enterprises registered in the free zone and 5 having commenced trial production."