- Official documents reveal 13 projects worth $11 billion already completed
- 13 projects worth $ 18 billion are under completion
- Projects worth $ 21 billion projects are in the pipeline
ISLAMABAD – With the approval of Mainline-I (ML-I) Railway Project, the total cost of projects under China, Pakistan Economic Corridor (CPEC) has surged to historic US $50 billion – a biggest injection made by any foreign country into Pakistan.
Karachi–Peshawar Railway Line (referred to as Main Line-1 or ML-1) would cost around US$ 9 billion. This would upgrade the railway track infrastructure to help smooth railway traffic movement upto 120 miles per hour from Karachi to Peshawar. The present-day Karachi–Peshawar Railway Line was built as a patchwork of different railways during the 19th century. The present day line consists of the following historic sections built between 1861 and 1900.
Official documents have revealed that out of the US$ 50 billion CPEC outlay, 13 projects worth around US $ 11 Billion have already been completed, while 13 projects worth US $ 18 billion are under completion, whereas US $ 21 billion projects are in the pipeline.
The documents suggest that 46 percent work on Gwadar Eastbay Expressway has been completed while New Gwadar International Airport is being constructed with Chinese grant, which will be the largest airport in Pakistan.
To enhance the friendly relationship between the people of China and Pakistan, both the governments have also signed agreements for poverty alleviation. In this regard the two Memorandums of Understanding (MoUs) were signed on November 3, 2018 during official visit of Prime Minister Imran Khan to China.
An MoU between Ministry of Planning Development & Special Initiatives and The State Council Leading Group Office of Poverty Alleviation and Development of China was signed while another MoU between Ministry of Planning Development & Special Initiatives and China International Development Cooperation Agency (CIDCA) has also been inked.
According to the official documents, primary objective of the MoU with State Council Leading Group Office of Poverty Alleviation and Development is to achieve the Sustainable Development Goals (SDG) of the UN by means of facilitating mutual learning and experience sharing. The key areas of cooperation under the MoU include Knowledge Sharing and Experience Exchanging; Capacity Building while Community-Based Development Pilot Project in an underdeveloped area.
Agricultural Industrialization-led Poverty Reduction Pilot Project in an underdeveloped agricultural area is also being planned while Cooperative Research is also on the plan.
The second MoU is about to establish a joint working group under CPEC for promotion and implementation of the Socio-Economic Development Project through Chinese government grants and interest-free loans under CPEC and six sectors were identified for cooperation in Agriculture, education, medicine, poverty alleviation, water supply and vocational training.
