Pakistan proudly announces the successful completion of more than 50 projects valued at an astonishing $25 billion under the China-Pakistan Economic Corridor (CPEC) in a historic step toward economic prosperity and regional connectivity.
This historic announcement by caretaker Prime Minister during his speech at the third Belt and Road Forum (BRF) in Beijing.
The China-Pakistan Economic Corridor (CPEC) is a centerpiece of China’s ambitious Belt and Road Initiative (BRI).
The initiative will invest more than $65 billion, largely on road, rail, and other critical infrastructure projects in Pakistan. These developments aim to improve regional trade, connectivity, and economic growth.
Prime Minister Kakar addressed the following major successes and upcoming endeavors during his speech:
Over 50 Projects Completed: Pakistan’s successful completion of over 50 projects shows significant advancement in infrastructure development and economic prosperity.
Gwadar’s Key Airport: As part of the CPEC, China is funding the development of a strategically important airport in the southwestern port city of Gwadar. This airport has the potential to improve regional connectivity, owing to Gwadar’s closeness to the vital oil shipping route in the Arabian Sea, the Strait of Hormuz.
Enhancing Global Collaboration: Over 130 countries were represented at the Belt and Road Forum, emphasizing the global significance of projects. Among those in attendance were key world leaders, including Russian President Vladimir Putin.
Future Industrial Zones and Rail Track: Pakistan is planning to build industrial zones through partnerships between Chinese and local firms. A substantial rail route extending over 2600km and costing about $7 billion likely to become the CPEC’s largest single project.
Clean Energy Projects: The CPEC’s clean energy projects aims to complete within the next four to five years.
ON the sidelines of the third BRF meeting, Both countries’ primers reaffirmed Pakistan and China’s long-standing friendship. They stated their intention to improve different facets of their relationship, such as politics, economics, education, science, technology, culture.
The region eagerly awaits the next stage of growth as the CPEC’s positive impact on Pakistan’s economy continues to emerge.
Expansion of Special Economic Zones (SEZs), industrial diversification, and breakthroughs in diverse areas such as ICT, mining, infrastructure, and agriculture.and will boost Pakistan’s economic growth and contribute to the global network of progress.
This momentous milestone reflects the essence of collaboration and shared prosperity, echoing the values of the Belt and Road Initiative.
