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  By Admin     2016-07-30     8:00 AM     10 Comments

CPEC a window of opportunity for socio-economic development: PM

ISLAMABAD: Prime Minister 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 wellbeing of citizens of the country and the region at large. The prime minister welcomed the interest shown by the Chinese 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 KP, 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 a 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.

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  By Admin     2015-07-23     8:00 AM     10 Comments

Senate Committee to Review Progress of CPEC Projects

Islamabad, Jan 07: Senate Standing Committee on Communications will meet in Islamabad on Friday to review the progress of China Pakistan Economic Corridor projects during past six months. The meeting will also discuss the progress of Quetta-Chaman-Mughalkot-Shahdadkot Road and status of Kuchlak bypass. Position of funds allocated for Khyber Pakhtoonkhaw for construction of Takht Bhai bypass would also be discussed in the meeting. China Pakistan Economic Corridor project is a regional economic integration plan launched in 2013 under China's Silk Road Initiative for promoting communication and cooperation in the region.

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  By Admin     2013-03-09     8:00 AM     10 Comments

Chinese investment boosts Pakistan's economic growth

Improving security situation, successful completion of IMF loan program, and most significantly, the implementation of China-Pakistan Economic Corridor (CPEC), have become the driving force of foreign investment inflows to Pakistan. China recognizes CPEC as a strategic trade route from its Xinjiang province to import markets in South Asia, Middle East, and Africa; and Pakistan considers CPEC as an opportunity for economic turnaround that promises transport infrastructure overhaul, industrial development, and energy sufficiency, that will strengthen the country's growth. While there are concerns of CPEC converting into a liability for Pakistan with rising debt obligations to China, unregulated competition for locally industry, and low employability of locals, China has put its confidence in a previously undesirable economy, and transformed its desirability as numerous states and institutions now wish to cooperate in CPEC. Pakistan is steadily moving past its ill-repute of terrorism and corruption, and emerging on the global map with inclusive development and multilateral cooperation as its defining agenda.

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  By Admin     2013-03-09     8:00 AM     10 Comments

CPEC Plan

For instance, thousands of acres of agricultural land will be leased out to Chinese enterprises to set up “demonstration projects” in areas ranging from seed varieties to irrigation technology. A full system of monitoring and surveillance will be built in cities from Peshawar to Karachi, with 24 hour video recordings on roads and busy marketplaces for law and order. A national fibreoptic backbone will be built for the country not only for internet traffic, but also terrestrial distribution of broadcast TV, which will cooperate with Chinese media in the “dissemination of Chinese culture”. The plan envisages a deep and broad-based penetration of most sectors of Pakistan’s economy as well as its society by Chinese enterprises and culture. Its scope has no precedent in Pakistan’s history in terms of how far it opens up the domestic economy to participation by foreign enterprises. In some areas the plan seeks to build on a market presence already established by Chinese enterprises, eg Haier in household appliances, ChinaMobile and Huawei in telecommunications and China Metallurgical Group Corporation (MCC) in mining and minerals. In other cases, such as textiles and garments, cement and building materials, fertiliser and agricultural technologies (among others) it calls for building the infrastructure and a supporting policy environment to facilitate fresh entry. A key element in this is the creation of industrial parks, or special economic zones, which “must meet specified conditions, including availability of water…perfect infrastructure, sufficient supply of energy and the capacity of self service power”, according to the plan. But the main thrust of the plan actually lies in agriculture, contrary to the image of CPEC as a massive industrial and transport undertaking, involving power plants and highways. The plan acquires its greatest specificity, and lays out the largest number of projects and plans for their facilitation, in agriculture. The plan states at the outset that the corridor “spans Xinjiang Uygur Autonomous Region and whole Pakistan in spatial range”. It’s main aim is to connect South Xinjiang with Pakistan. It is divided into a “core area” and what they call the “radiation zones”, those territories that will feel the knock on effects of the work being done in the core area. The core area includes “Kashgar, Tumshuq, Atushi and Akto of Kizilsu Kirghiz of Xinjiang” from China, and “most of Islamabad’s Capital territory, Punjab, and Sindh, and some areas of Gilgit-Baltistan, Khyber Pukhtunkhwa, and Balochistan” from Pakistan. It has “one belt, three passages, and two axes and five functional zones”, where the belt is “the strip area formed by important arterial traffic in China and Pakistan".

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Blog Articles

  • Chinese investment boosts Pakistan's economic growth
    Image

    Improving security situation, successful completion of IMF loan program, and most significantly, the implementation of China-Pakistan Economic Corridor (CPEC), have become ....

    More..
  • Senate Committee to Review Progress of CPEC Projects
    Image

    Islamabad, Jan 07: Senate Standing Committee on Communications will meet in Islamabad on Friday to review the progress of China Pakistan Economic Corridor projects during past six months....

    More..
  • CPEC a window of opportunity for socio-economic development: PM
    Image

    ISLAMABAD: Prime Minister Nawaz Sharif on Monday said China-Pakistan Economic Corridor was a window of opportunity that would bring socio-economic development in the country ....

    More..
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