China Pakistan Economic Corridor plan?
Today most of the people living in different countries of the world specialty having their home town as Pakistan, don't have enough information about Pak China Economic Corridor Plan. They wanted to know about this project. They have a lot of questions in their minds and some are raising on social media and print media and also the most famous electronic media. I am going to answer you some of the questions about this grand project which will change the entire living style of Pakistan and central Asia. Upon the successful completion of this project, Pakistan will appear a unique and one of the most powerful countries in the world. It is mostly written as China Pakistan Economic Corridor (CPEC) in the news and on the websites having information about this project.
It is being observed and discussed everywhere in the communities who are interested in the business and economy of asia and it seemed to become a mega project in the history. One unique thing about this project is that, non of other country have such like rout in the world. This is great edge to boost up the economy of Pakistan and there will be a million of business and job opportunities in the future. It will defiantly change the overall scenario and environment of central asia and specially Pakistan. Surely Pakistan will be the major beneficiary after the successful completion of this mega project. And also Pakistan has to pay more sacrifices to make this project a successful. There are lot of hurdles and opponent powers, who are just jealous and don't want to see Pakistan a powerful country. They have fears due to their own weaknesses.
Some of the questions are being answered here as:
- What is Pak China Economic Corridor?
It is a structure of roads, railways and pipelines network having length more than 3000 kilometers (1864 miles). This will be a trade route that span Asia, Africa and Europe, which will link the Kashgar in northwest China's Xinjiang Uygur Autonomous Region and southwest Pakistan's Gwadar Port. It is a part of 21st Century Maritime Silk Road that was proposed by Chinese President Xi Jinping early in 2013
Here is picture showing the where the road will be.
- How much CPEC will cost to complete?
CPEC is a mega project having total estimated worth of approximately $46 Billions which is supposed to be paid for the updation and expandation of infrastructure in Pakistan. $11 Billion will be given to the government of Pakistan as loan amount which is heavily-subsidized concessionary loans having interest rate of just 1.6% to overhaul the country's transportation infrastructure.
This mega project consists of different small projects including transportation infrastructure, road infrastructure, railway line tracks, pipelines and energy infrastructure. Current scenario of Pakistan energy sector is in poor conditions. It needs a lot of work to improve to fulfill the needs and raising demands of energy to run all the productive machinery. Therefore Exim Bank of China is going to lend $46 billion to Government of Pakistan and the most of this amount will be spent to improve the dead structure of energy in Pakistan. So a huge amount is being utilized from this loan to boost up the power sector. Here is chart that will show the divisions of loan amount.
- How much time CPEC will take to complete?
CPEC is huge mega project which is consist of different small project. Although these small project as so called small but actually these are also very huge projects. Some of them will be complete soon due to their fair and supportive circumstances but some projects that have so many laps already and had bad and poor infrastructure and unsupported circumstances, will need to do lot of efforts to achieve the desired targets for the successful completion of this mega project.
Construction of Karachi to Peshawar main railway line which will allow to run the rain upto 160 km per hour is supposed to be completed by Dec 2019. This will be a great progress in the history of Pakistan. I will surely raise the China economics and improve the transportation facilities throughout Pakistan.
Railway network of Pakistan will be connected to the Chaina railway network in Kashger eventually.
This is first time in the history of China that China has announced to invest the ever biggest overseas investment in and Pak China Economic Corridor plan is expected to become operational within a short period of just 3 year and this project will be strategic game changer in the Asian region, and it will go a long to make Pakistan an economic power.
