28 projects were finished under the China-Pakistan Economic Corridor (CPEC) at the cost of 18.8 billion, the Pakistani National Assembly was told.
The finalized projects comprise 12 projects within Energy, ten projects for infrastructure Development, as well as six within the sector of Socio-Economic Development.
In a written response addressed to the National Assembly, federal minister for Planning, Development, and Special Initiatives Ahsan Iqbal informed that six projects in Punjab, seven in Sindh and two of them in Khyber Pakhtunkhwa, six in Balochistan, One located in Gilgit Baltistan, one in Azad Jammu and Kashmir, and five projects in Islamabad were completed as part of CPEC.
Presently Nine SEZs (SEZs) are agreed upon as part of CPEC, which includes Allama Iqbal Industrial City Faisalabad, Punjab, Rashakai SEZ, Khyber Pakhtunkhwa, Dhabeji SEZ, Sindh, Bostan SEZ, Mirpur SEZ, AJK, ICT Model City Islamabad, Industrial Park on Pakistan Still Mill Land Karachi, Mohmand Marble City, ex-FATA and Maqpandass SEZ Gilgit, he said.
Out of the nine SEZs, The Federal Board of Investment (BOI), in collaboration with China, the Chinese government, has prioritized the Allama Iqbal Industrial City, Rashakai SEZ, Bostan SEZ, Dhabeji Special Economic Zone to accelerate development.
On Friday, the President of Pakistan, Dr. Arif Alvi, said that the China-Pakistan Economic Corridor (CPEC) would be a major project with immense economic logistical, financial, and connectivity benefits for Pakistan, China, and other regional countries. In an interaction with the Chinese ambassador for Pakistan, Nong Rong, at Aiwan-e-Sadr, the president said that Pakistan would be open to other countries to join and gain from this.
Government expands the scope of the China-Pakistan Economic Corridor (CPEC) to look into the potential for the "Gateway of Prosperity" for both countries and the entire region by advancing the railway industry.
Based on the report on the Economy 2021-22 that was launched by the Minister of Finance and Revenue, Miftah Ismail and the Minister of Planning, Development and Special Initiatives, Ahsan Iqbal, Minister for Power Khurram Dastgir, and the Minister of State for Finance and Revenue Aisha Ghaus Pasha, the government views CPEC as an investment in the long-term future of development as it could become a major corridor with numerous doors that connect China and Central Asia, Middle East, Africa, and Europe.
The survey said the Chinese and Pakistani workforce, in a large number, was employed to ensure the timely completion of the infrastructure projects and launched new projects such as Sukkur-Hyderabad Motorway (M-6), Peshawar-DI Khan Motorway (M-14), KKH Alternative Route (Gilgit-Shandor-Chitral), Swat Expressway (Phase-II), Dir Expressway, and Karachi Circular Railways.
Pakistan Railways is one of the most important transport modes in the public sector. It encourages the integration of the nation and economic development. In FY 2022, from July to March, the total earnings of railways were reported at around Rs 43,731.59 million.
"A network of roads, highways, motorways, seaports, and airlines in a country makes it a center of economic activity by attracting investment, raising productivity, and reducing the cost of doing business," it added.
It is determined to upgrade the transportation and communication system by constructing new highways, roads, railway tracks, motorways, and airports that will improve the connectivity of CPEC.
The CPEC is a sensible move to transform the geo-strategic position of Pakistan into geo-economics by implementing various transportation-related projects which would alter the road infrastructure in Pakistan and increase access to the central Asian, African, and European states, the statement said.
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