ISLAMABAD, Pakistan: The Federal Minister for Planning and Development Ahsan Iqbal has said that Pakistan will become an economic hub of the most populated region of the world after the $46 billion China-Pakistan Economic Corridor (CPEC) project becomes operational.
In an interview with a private news channel, the minister termed the CPEC project a win-win project for both Pakistan and China. He said that the projects of CPEC would be launched in all the four provinces as Prime Minister Nawaz Sharif wanted development of the entire country.
The minister said that about $34 billion to $35 billion would be invested in the private sector in energy projects.
In reply to a question, he said that the working group for industrial zones would be constituted in next two months with the consultation of all the four provinces.
The planning and development further said that the project of Peshawar to Karachi Motorway would also be completed by the end of 2018.
The CPEC aims to connect Gwadar port in southwestern Pakistan to China’s northwestern autonomous region of Xinjiang, via a network of highways, railways and pipelines to transport oil and gas.
The economic corridor is considered central to China–Pakistan relations and will run about 3,000 kilometers from Gwadar to Kashgar.