CPEC WILL UL­TI­MATELY BEN­E­FIT NOT ONLY PAK­ISTAN BUT IN­DIA AND THE RE­GION AS WELL,

CHI­NESE OF­FI­CIALS IN­SIST THAT BY HELP­ING STA­BILISE PAK­ISTAN

India Today - - COVER STORY -

who is over­see­ing the pro­gramme in Is­lam­abad as the Deputy Chief of Mis­sion in the Chi­nese embassy, $14 bil­lion has al­ready been in­vested in 30 ‘early har­vest’ projects, of which 16 are un­der con­struc­tion. These are mostly en­ergy projects aimed at re­duc­ing Pak­istan’s soar­ing en­ergy deficit, in­clud­ing a coal power plant in Sahi­wal that will go on­line in June, a dam in Karot, the SukkurMul­tan sec­tion of the Karachi-La­hore ex­press­way, and the sec­ond phase of the Karako­ram High­way from Thakot to Havelian in Khy­ber Pakhtunkhwa.

Bei­jing is also mov­ing for­ward to cre­ate new global fi­nan­cial institutions to un­der­pin the Belt and Road and CPEC, set­ting up a $40 bil­lion Silk Road Fund and the $100 bil­lion Asian In­fra­struc­ture In­vest­ment Bank, in which China is the big­gest share­holder, con­tribut­ing around one-third. In­dia is the sec­ond, hav­ing com­mit­ted an $8 bil­lion stake with an eye on en­sur­ing that it—and other coun­tries—have a voice in how this new ri­val to the Asian De­vel­op­ment Bank

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