Chinese Ambassador to Pakistan Nong Rong said that CPEC has invested $25.4 billion and created 75,000 jobs, making a significant contribution to the socio-economic development of the country.
Pakistan Prime Minister Imran Khan said on Thursday that his government will expedite the work of $ 60 billion. China-Pakistan Economic Corridor (CPEC) projects notwithstanding COVID-19 issues related.
Addressing a function in Islamabad to mark the inauguration of a 600 kilovolt (kV) transmission line under the CPEC running between Matiyari and Lahore, Mr Khan pointed out that the pandemic had halted communication in many areas, leading to travel restrictions. And affected supply chains were affected. Everywhere in
“The situation is improving and progress on CPEC related projects will be visible again,” he said.
look | About China-Pakistan Economic Corridor
Mr Khan said the corridor project is being expanded from power generation and road infrastructure projects to cooperation in the fields of industries and agriculture, which will help Pakistan reduce its debt burden through wealth creation.
He said that Matiyari-Lahore transmission line is 886 km long state-of-the-art transmission line which will help in reducing power loss.
Speaking on the occasion, Chinese Ambassador to Pakistan Nong Rong said that CPEC has invested $25.4 billion and created 75,000 jobs, making a significant contribution to the socio-economic development of the country.
He said that the Matiyari-Lahore transmission line will realize the safety and reliability of the grid system, optimize energy distribution across the country and reduce the cost of electricity.
Last week, in an interview with Mr Khan newsweek Said that the COVID-19 pandemic may have slowed down the progress of the CPEC project, but it was progressing.
“China has already invested about $25 billion under the umbrella of the China-Pakistan Economic Corridor (CPEC) and projects worth $20 billion are being implemented,” he said. “Projects worth $25 billion are in the pipeline,” he said.
The CPEC, which connects Gwadar Port in Balochistan to China’s Xinjiang province, is a flagship project of Chinese President Xi Jinping’s ambitious Belt and Road Initiative (BRI). Originally valued at $46 billion, CPEC projects were valued at $62 billion as of 2017.
The Belt and Road Initiative aims to connect Southeast Asia, Central Asia, the Gulf region, Africa and Europe through a network of land and sea routes.
India, the US and several other countries are highlighting concerns over China’s ambitious BRI projects, which could leave many smaller countries in a debt trap. Concerns escalated after China took the Hambantota port of Sri Lanka on a 99-year lease.
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