CPEC: Potential of Northern Areas to be fully unlocked


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ISLAMABAD: China Pakistan Economic Corridor (CPEC) Authority Chairman Lieutenant General (Retd) Asim Saleem Bajwa has vowed to unlock the potential of Pakistan’s Northern Areas under the umbrella of CPEC.

In a tweet, the CPEC Authority chairman said that he had a meeting with Chief Minister Gilgit Baltistan Khalid Khurshid to consult upon various projects under CPEC.

During the meeting, he promised to enhance the connectivity of GB with the rest of Pakistan besides exploring new potential areas for development.

Bajwa also promised to uncover more projects in terms of power, agriculture, fishery value chain, infrastructure, roads, airports, and tourist zones.

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Government allocates Rs87bn for CPEC in budget 2021-22


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ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Asad Umar, said that the government will allocate Rs87 billion for the execution of China-Pakistan Economic Corridor (CPEC) projects. 

As per details, National Economic Council (NEC) earmarked Rs6.2 billion for Mainline (ML-1) and Rs42 billion for Western Wing. The government also allocated Rs7 billion for the development of infrastructure of Special Economic Zones (SEZs). 

According to sources, the minister said that the federal Public Sector Development Program (PSDP) budget was increased from Rs660 billion to Rs900 billion in the upcoming budget, indicating an increase of 36.4 per cent. 

While briefing CPEC Authority Chairman Lt Gen (retd) Asim Salem Bajwa at the P Block, Asad Umar said that the commitment to completion of CPEC projects has strengthened as the issue of circular debt and nonpayment to IPPs has now been resolved. 

 

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Govt sets aside Rs55bn for CPEC projects


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ISLAMABAD: The federal government under the next budget has set aside Rs55bn for projects under China Pakistan Economic Corridor (CPEC).

According to the details, the federal government has also added 25 schemes of CPEC in next year’s Public Sector Development Programme (PSDP).

The development cost of CPEC projects has reached Rs1.6tr while Rs305bn has already been spent on various projects.

In response to a question, the federal minister for planning and development said that the government has added three projects for the supply of gas to Bostan, Rashakai, and Faisalabad Special Economic Zone (SEZ). 

 

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CPEC to create numerous job opportunities: Asad Umar


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ISLAMABAD: Asad Umar, Federal Minister for Planning, Development, and Special Initiatives has said that China Pakistan Economic Corridor (CPEC) will create numerous jobs in the country.

The minister has said that the Ravi City project will generate millions of employment opportunities as 40 allied industries are connected to the construction sector.

According to the details, the minister was of the view that only the ML-1 railway project has the potential of creating 174,000 jobs.

Furthermore, the minister has said that the investment is likely to reach Rs. 50.7 billion under CPEC and it will give the necessary push to economic activities in the country.

In a reply to a question, the minister stated that the nine economic zones are going to be set up under CPEC while special attention is also being given to infrastructure and energy projects.

 

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A total of $13bn invested in CPEC: Asim Bajwa


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ISLAMABAD: Chairman China Pakistan Economic Corridor (CPEC) Authority, Asim Bajwa has informed that a total of $13bn has been invested in the CPEC project while $12bn is in the pipeline.

While paying a visit to the newly established textile factory on Multan Road with the Chinese investment of $150mn, the chairman said that all facilities will be extended to foreign investors to bring the investment under CPEC.

The chairman was also of the view that the time period of visas of Chinese investors under CPEC will be extended and the announcement will be made by the Prime Minister soon.

 

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PM okays construction of SEZ in Karachi under CPEC


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ISLAMABAD: Prime Minister Imran Khan on Sunday gave the go-ahead for the construction of Special Economic Zones (SEZs) in Karachi under China-Pakistan Economic Corridor (CPEC) 

Speaking on the occasion of a review meeting on the progress of CPEC projects, Prime Minister Khan stated that the relationship between Pakistan and China was an exemplary one. 

He expressed that the progress of the SEZs was satisfactory and that the project was necessary to promote investment in mutually beneficial areas and was important for the development of a strategic relationship. 

He further mentioned that the CPEC project was a harbinger of economic growth that would not only transform Pakistan but would result in economic development in the entire region. 

The Prime Minister stated that all necessary incentives will be given to the investors. For this purpose he directed the Board of Investment to draft a detailed action plan with considerations from the business community. 

CPEC Authority Chairman Lt-Gen (r) Asim Saleem Bajwa on Sunday took to twitter to share the design plan of 103-kilometre Nokundi-Mashkhel road connecting Pakistan to Iran. The road project also comes under the CPEC project. 

 

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CPEC projects to move in full swing in days ahead


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ISLAMABAD: The China Pakistan Economic Corridor (CPEC) projects are moving in full swing as the second phases commences with the development of industrial projects. 

CPEC is part of the greater Belt and Road Initiative (BRI) that puts Pakistan as a key player in the regional economic realm. The Special Economic Zones (SEZs) under CPEC is an essential outcome of the project. 

According to officials, after completion of the energy projects, Pakistan would add additional 17,000 MW electricity to the national grid. Currently, 22 energy projects have been completed while 5 electricity projects in Kohala, Thar, Azad Pattan and others are in progress. 

In addition, construction work on 4 SEZs were underway along with establishment of 400 industrial units, including  domestic goods, electronics, garments and textile, electricity accessories and pharmaceuticals.  

 

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Development work on first CPEC hydropower project near completion: Asim Bajwa | Graana.com Blog


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ISLAMABAD: Asim Bajwa, Chairman China Pakistan Economic Corridor (CPEC) Authority has informed that 88pc of development work on the Karot Hydropower Project has been finished till now.

Taking on to Twitter, the chairman CPEC authority informed that the development work on the 720MW hydropower project will be completed by April 2022.

The chairman also stated that the project is being developed at an investment of $1780mn; moreover, the project has employed 5000 locals for the construction.

Further, the project is being developed on River Jhelum under Build-Own-Operate and Transfer (BOOT) basis and has the capacity to generate 3.249 billion units of clean energy annually.

 

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Western route of CPEC to be completed within next two years

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ISLAMABAD: Murad Saeed, Federal Minister for Communications and Postal Services has told that the Western route of China Pakistan Economic Corridor (CPEC) will be completed within the next two years.

While expressing his views on the occasion of the groundbreaking ceremony of three roads, the minister said that various uplift projects have been approved for the province of Balochistan.

As per the details, the groundbreaking ceremony of the Dera Murad Jamali bypass, Ziarat Mor-Kach-Harnai-Sanjavi, and expansion of Quetta Western bypass was performed by Prime Minister Imran Khan.

 

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CPEC Chairman for establishing tech institutes along SEZs

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ISLAMABAD: Asim Saleem Bajwa, Chairman China Pakistan Economic Corridor (CPEC) Authority informed that various technological institutions will be established along Special Economic Zones (SEZs) developing under CPEC.

Taking on to Twitter, the chairman informed that the tech institutes will equip youth with new skills and will provide them various jobs under CPEC projects.

The Chairman also said that Gwadar Technical Institute is being developed at a rapid pace.

Further, the Chairman also stated that the inclusion of 17,000MW electricity will make Pakistan abundant in electricity resources and the country will also be able to export it.

 

For news and blogs, visit Graana.com.