KP ma­jor ben­e­fi­ciary of CPEC in­fra­struc­ture projects

Pakistan Observer - - ECONOMY WATCH -

Cur­rency Sell­ing Buy­ing IS­LAM­ABAD—The ma­jor por­tion of the China- Pak­istan Eco­nomic Cor­ri­dor (CPEC) trans­porta­tion in­fra­struc­ture projects’ in­vest­ment would go to Khy­ber Pakhtunkhwa, wherein as many as $3.825 bil­lion would be spent on de­vel­op­ment of var­i­ous in­fra­struc­ture projects. As many as $ 3.020 bil­lion would be spent on the ma­jor por­tion of Karokaram High­way Phase-II (from Raikot to Is­lam­abad), fol­lowed by an in­vest­ment of $730 mil­lion on construction of a por­tion of ex­pan­sion and re­con­struc­tion of ex­ist­ing main rail­way line ML-1, of­fi­cial sources said. A sum of $ 35 mil­lion would be spent on ma­jor por­tion of Cross-bor­der Op­ti­cal Fiber Ca­ble while $40 mil­lion would be spent on es­tab­lish­ment of Havelian Dry Port.

The next ma­jor ben­e­fi­ciary of the CPEC in­fra­struc­ture would be Pun­jab prov­ince, wherein $3.739 bil­lion would be uti­lized for var­i­ous projects. A sum of $1.790 bil­lion would be spent for construction of a por­tion of SukkurMul­tan of Peshawar-Karachi Mo­tor­way while $1.460 bil­lion have been es­ti­mated cost of a por­tion of ex­pan­sion and re­con­struc­tion of ex­ist­ing main rail­way line (ML-1). Sim­i­larly, $480 mil­lion would be uti­lized for construction of small por­tion of Raikot-Is­lam­abad High­way and $9 mil­lion for Cross Bor­der Op­ti­cal fiber Ca­ble. In Sindh, $ 2.260 mil­lion would be uti­lized for trans­port in­fra­struc­ture projects, out of which $1.460 bil­lion would be spent on ex­pan­sion and re­con­struc­tion of a por­tion of ex­ist­ing Line ML-1. An amount of $800 mil­lion would be spent on construction of a por­tion of Sukkur-Multan Sec­tion of Karachi Lahore Mo­tor­way (KLM).

About $793 mil­lion would be spent on 8 trans­port in­fra­struc­ture projects of Balochis­tan prov­ince. As many as $130 mil­lion would be spent on nec­es­sary fa­cil­ity of fresh wa­ter treat­ment and sup­ply, $100 mil­lion for es­tab­lish­ment of a hospi­tal at Gwadar, $230 mil­lion for construction of Gwadar In­ter­na­tional Air­port and $141 mil­lion for es­tab­lish­ment of East bay Ex­press­way.

Sim­i­larly, $123 mil­lion would be spent on construction of break­wa­ters, $27 mil­lion for dredg­ing of berthing ar­eas and chan­nels, $32 mil­lion for in­fra­struc­ture for Free Zone and EPZs-port re­lated in­dus­tries and $10 mil­lion for tech­ni­cal and vo­ca­tional in­sti­tute at Gwadar. It is per­ti­nent to men­tion here that CPEC is a long-term broad frame­work with mul­ti­ple sec­toral projects, which will be com­pleted in dif­fer­ent phases through bi­lat­eral agree­ments agreed upon by both sides as a win-win equa­tion. Pak­istan and China had signed an agree­ment last year to com­mence work on CPEC de­vel­op­ment projects worth over $46 bil­lion. The cor­ri­dor aims to con­nect Gwadar port in Balochis­tan to China’s Xin­jiang re­gion via a net­work of high­ways, rail­ways and pipe­lines spread over 3,000 KM. Work on sev­eral sec­tions is in progress.—APP

IS­LAM­ABAD: Pres­i­dent Mam­noon Hus­sain giv­ing Ex­cel­lence Award of D. Wat­son to Ah­san Za­far Bakhtawari at Pres­i­dency. Gover­nor of Pun­jab Ma­lik Rafique Ra­jwana, Iftikhar Ali Ma­lik and Mian Idrees are also present.

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