Economic Developments Under CPEC

CPEC projects to give further impetus to Pak-China ties: Buzdar

nThe chief minister of Punjab Usman Buzdar has said that the China-Pakistan relations will strengthen, with the completion of the China-Pakistan Economic Corridor (CPEC) in Pakistan. nnThe Punjab government was grateful to the Chinese government for extending the China-Pakistan economic corridor(CPEC) in their province. It was sanguine that Pak- China coordination was achieving a new height of glory amid the tenure of PM Imran Khan. nnnnCM Punjab said this while addressing a virtual meeting for joint cooperation under CPEC. nnHe pointed out that Punjab holds the higher share in National GDP. Thus, he invited Chinese investors to the province with prospects of a conducive environment.  nnMoreover, he said that Chinese investors will be provided with favorable facilities and special incentives for setting up their industry. nn While updating the participants regarding CPEC progress he also informed that special economic zone Allama Iqbal Industrial City had been operationalized in Faisalabad while 1050 acres of land had been earmarked for the China zone in it.  n

Multi-million Dollar Karachi coastal project under CPEC to boost economy: officials

nnnAs per the statement issued by officials, the inclusion of the Karachi Coastal Comprehensive Development Zone (KCCDZ) in CPEC, will uplift the economic status of the country along with enhancing Pak-China development and industrial cooperation.  nnThe decision to include the Karachi projects was made at the CPEC’s 10th joint Cooperation Committee Meeting. nnThe Prime minister of Pakistan termed the project as a game-changer by implying that the  KCCDZ Project will bring Karachi on par with other developed port cities of the world. nnHe tweeted that the project will present new opportunities for investors. He further stated that the project will also help clean up marine habitats for fishermen and develop 20,000 low-income housing units.nn“The KCCDZ is the first of its kind under the CPEC, which reflects the commitment of Pakistan and China to forge high-quality cooperation to improve people’s livelihoods,”  Minister for Maritime Affairs Ali Haider Zaidi told Xinhua.n

ADB approved a $235 million loan to upgrade National Highway

nnnThe Asian Development Bank (ADB) approved a $235 million loan for Pakistan to upgrade the National Highway, which is crucial to regional connectivity.nnThe project will expand the 222-kilometer Shikarpur–Rajanpur section of the National Highway 55 (N55) from two lanes into a four-lane carriageway. nnN55 is part of the Central Asia Regional Economic Cooperation (CAREC) Corridor 5 which links the ports of Karachi and Gwadar in southern Pakistan with national and international economic centers to the north. n

Govt will promote tourism from Lasbela to Gwadar: PM Imran

nWhile Inaugurating tree plantation at Sonmiani beach in Lesbaila in August 2021, PM Imran Khan said that there are vast opportunities for entertainment in Lasbela, adding that the government will promote tourism from Lasbela to Gwadar.nnHe further said that 1 trillion dollars have been assigned for the development of Balochistan which is unprecedented in the history of the country.