PM says CPEC ‘window of opportunity for socio-economic development’

Islamabad: Terming China-Pakistan Economic Corridor (CPEC) as a window of opportunity, Prime Minister, Nawaz Sharif on Monday said it would bring socio-economic development in the country, particularly, in two least developed provinces: 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 (1320MW) 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.

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