Game changer: All provinces will reap benefits of CPEC, says PM

Chinese investors show interest in developing hydropower projects

ISLAMABAD:

Prime Minister Nawaz Sharif has reiterated that the multibillion-dollar China-Pakistan Economic Corridor (CPEC) is a ‘game changer’ for the region and will benefit all provinces of Pakistan.

“The entire country, particularly the two least-developed provinces of Balochistan and Khyber-Pakhtunkhwa, will reap the benefits of CPEC,” he said in a meeting with a group of Chinese investors who called on him at the Prime Minister House on Monday.

The fusion of multiple development projects under CPEC provides a window of opportunity that will bring socio-economic development and prosperity in all provinces, he added.

The prime minister’s statement came a day after the planning and development minister, Ahsan Iqbal, failed to assuage the concerns of an all parties’ conference (APC) on the multibillion-dollar project that they claim will only benefit Punjab.

The APC called upon the government to give preference to the western route of CPEC in accordance with a commitment he had made at an earlier APC in May, last year.

Premier Nawaz pointed out that Gwadar was being developed as an international free port with several projects under way, including the Eastbay Expressway-II, Gwadar Port Authority (GPA) expansion of multipurpose terminal, Infrastructure for free zone and export processing zone-related industries, facilities for treatment and supply of fresh water, hospital, technical and vocational Institutes, an airport, energy projects, including Gaddani, Hubco and Gwadar power plants, and smart city at Gwadar.



The meeting also discussed projects in Khyber-Pakhtunkhwa with the province becoming a trade and logistic passage zone under CPEC. Projects outlined for K-P include rail and road networks such as the $365 million Swat Motorway Project, oil and gas sector, development of industrial and economic zones, mineral processing and development zones, telecommunication sector, agriculture sector development and human resource development among others.

They were informed that preliminary working on the proposed sites for construction of economic zones has been identified by the Board of Investment in K-P and Balochistan.

The group of Chinese investors appreciated the government’s economic policies and expressed confidence that the transparent investment regime in the country will attract more foreign direct investment. They also expressed interest in developing hydropower projects in the country.

Welcoming the interest shown in Pakistan’s hydel power sector, the premier said it was a priority for his government and detailed the different sources of energy, including solar, thermal and coal projects that the country was investing in to address its chronic energy crisis. Billions of dollars have been secured from international financial institutions for the construction of Dasu dam in K-P.

Future investment by the China Three Gorges International company in hydel energy in Pakistan would enable the government to overcome energy shortfalls.

Details of energy projects prioritised under CPEC include Port Qasim Electric Company coal-fired plant (1,320 MW), Sahiwal coal-fired power plant (1,320 MW); Engro Thar  coal-fired power plant (1,320 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 (1,320 MW); SSRL Thar coal block 6.5mpta & CPIH mine mouth power plant in Thar; Coal-fired power project Thar block-I (1,320 MW); Quaid-e-Azam Solar Park Bahawalpur (1,000 MW); Dawood Wind Farm in Bhambore (50MW); UEP Wind Farm in Jhimpir (100MW); Sachal Wind Farm in Jhimpir 50MW, Jhimpir; Sunnec Wind Farm 50MW in Thatta.


Published in The Express Tribune, January 12^th, 2016.