KP major beneficiary of CPEC infrastructure projects
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.