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The China-Pakistan Economic Corridor (CPEC) Achieves Milestones: 36 Projects Worth US
01-06-2024, 05:23 PM
Post: #1
The China-Pakistan Economic Corridor (CPEC) Achieves Milestones: 36 Projects Worth US

The China-Pakistan Economic Corridor (CPEC) Achieves Milestones: 36 Projects Worth USD 24 Billion Completed, 22 Underway


In Islamabad, Caretaker Planning, Development, and Special Initiatives Minister Muhammad Sami Saeed recently announced significant progress under the China-Pakistan Economic Corridor (CPEC). A total of 36 projects, valued at a combined USD 24 billion, have been completed, with an additional 22 projects currently in progress, as reported on January 2 by a reliable news source.

Minister Saeed provided specific updates on the developments in Gwadar, highlighting achievements such as the finalization of the master plan for Gwadar City, advancements on the East Expressway, and the anticipated completion of an international airport in June. These accomplishments underscore substantial advancements in the region.

Emphasizing CPEC's pivotal role in the growth of Gwadar City and Gwadar Port, Minister Saeed highlighted the completion of the aforementioned 36 projects and ongoing construction of 22 projects with a budget of USD 5 billion. Negotiations are also underway for 26 projects, totaling USD 27 billion, within the CPEC framework. Additionally, 27 projects dedicated to the social and economic development of Balochistan are actively progressing.

Minister Saeed further emphasized the commitment to Balochistan's development, pointing out a significant allocation in the Public Sector Development Programme (PSDP). The current year's PSDP stands at PKR 950 billion, with PKR 400 billion allocated to national projects. Noteworthy is the allocation of 15% of the program to Balochistan and an additional 14% earmarked for province-specific projects, totaling PKR 285 billion. These funds are directed towards various connectivity, roads, and water projects, including several dam projects.

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