CPEC, a window of opportunity for country’s socio-economic development: PM Nawaz Sharif

Lahore: Prime Minister Muhammad Nawaz Sharif on Monday said China Pakistan Economic Corridor was a window of opportunity that would bring socio-economic development in the country, particularly in two least developed provinces of Balochistan and Khyber Pakhtunkhwa.

In a meeting with a group of Chinese investors, the Prime Minister said the Corridor was a game-changer and all the provinces of the country would reap benefits under it.

He said the CPEC was a fusion of multiple development projects, aiming at the prosperity and well-being of citizens of the country and the region at large.

The Chinese investors expressed keen interest in developing hydropower projects in the country.

Appreciating the economic policies of the government, they expressed the confidence that transparent investment regime in the country would attract more Foreign Direct Investment (FDI).

The Prime Minister welcomed the interest shown by the Chairman for investment in Pakistan’s hydel energy sector and said that hydro-electric sector was priority of the government.

He said Pakistan was resolving its energy crisis by investing in different sources of energy including solar, thermal and hydro energy projects.

The government had already secured billions of dollars from International Financial Institutions for the construction of Dasu Dam in KPK, he added. He viewed that future investment by China Three Gorges International in the hydel energy sector would enable the government to overcome the energy shortfall.

The meeting was informed that Joint Working Group was being formulated under CPEC framework under which all provinces were being consulted to give technically sound and financially viable recommendations of industrial and economic zone.

The meeting was apprised that the priority energy projects under CPEC included Port Qasim Electric Company Coal Fired Plant (1320 MW); Sahiwal Coal-fired Power Plant (1320 MW); Engro Thar  Coal-fired Power Plant (1320 MW); Surface Mine in Block II of Thar Coal field 6.5 mtpa; Gwadar Coal Power Project (300 MW); HUBCO Coal Power Plant (660 MW); Rahimyar Khan Coal Power Project (1320 MW); SSRL Thar Coal Block 6.5mpta and CPIH Mine Mouth Power Plant, Thar, Sindh; Coal Fired Power Project Thar block-I (1320 MW); Quaid-e-Azam Solar Park, Bahawalpur (1000 MW); Dawood Wind Farm, Bhambore, Sindh (50MW); UEP 100MW Wind Farm, Jhimpir, Sindh; Sachal  50MW Wind Farm, Jhimpir, Sindh; Sunnec 50MW Wind Farm, Nooriabad,Thatta, Sindh.

Prime Minister Muhammad Nawaz Sharif said that Gwadar was being uplifted as an international free port and the government was undertaking several projects for its development.

Eastbay Expressway-II; Gwadar Port Authority (GPA) Expansion of Multipurpose Terminal including breakwater and dredging; Infrastructure for Free Zone and EPZs port related industries; Necessary Facilities of Fresh Water Treatment and Supply; Hospital; Technical and Vocational Institute; The only aviation project (New Gwadar International Airport); Energy projects including Gaddani, Hubco and Gwadar Power Plants (2940 MW), Free Zone of CPEC in Gwadar, Development of Smart City at Gwadar were also part of the Gwadar uplift projects.

The meeting was informed that preliminary workings on the proposed sites for construction of economic zones have been identified by BOI in KPK and Balochistan.

The spotted places in KPK for construction of economic zones are Mansehra, Noshehra, Hattar, Ghazi, D.I Khan, Kohat, Karak and Bannu while in Balochistan Turbat, Khuzdar, Dasht, Bostan, Qila Saifullah and Zhob.

The Prime Minister will announce the finalized sites for construction of economic zones in KPK and Balochistan after consultation with the provincial governments and the political leadership.

The meeting was further briefed that the existing roads were being upgraded to interconnect different areas of the country as 650 KM Gwadar-Surab road was being completed on priority to link Gwadar Port with rest of the country. The upgradation of Quetta-DI Khan road was also imperative while keeping in view its importance.

The meeting discussed in detail the CPEC projects in KPK. It was briefed that KPK would play a role of Trade and Logistic passage Zone.

Multiple projects would be executed in KP under CPEC including rail and road networks, like Swat Motorway Project (81 km) worth US $365 Million; oil and gas sector; development of Industrial and Economic Zones; Mineral Processing and Development Zones; telecommunication sector; agriculture and human resource development among others.

It was also informed that CPEC-Energy Actively Promoted Project include Gaddani Power Park Project, HUBCO Coal Power Plant, Hub Balochistan (660 MW), Salt Range Mine Mouth Power Project,  Kohala Hydel Project, AJK (1100 MW), Pakistan Wind Farm, Jhampir, Thatta, Sindh (100 MW), Thar  Mine Mouth Oracle, Thar Sindh, Muzaffargarh Coal Power Project (1320 MW), Salt Range Mine Mouth Power Project including mining with the cooperation of China Machinery Engineering Company, Kohala Hydel Project, AJK and Pakistan Wind Farm II, Jhampir, Thatta, Sindh.