The China-Pakistan Economic Corridor (CPEC) is Pakistan’s next revolutionary project with the potential to alter the whole trade structure of China, Pakistan, South Asia, Central Asia, Africa, Europe, and the whole world.
With such a promising economic potential, the CPEC projects are heading towards progress at a fast pace. To date, 27 projects worth $19 billion have so far been completed under the China-Pakistan Economic Corridor (CPEC) while 63 more with investment of $35.2 billion are scheduled to be completed by 2030.
In the energy sector, so far, 11 projects with an investment of $12 billion have been completed. Furthermore, seven more projects worth $7.4 billion are in the pipeline and are expected to be completed by 2030. Four more projects worth $6 billion will be completed by 2025.
When it comes to the infrastructure sector, seven projects with investment of $6.7 billion had been completed while six more projects of $0.9 billion would be completed by 2025 and 12 projects of $10.4 billion were expected to be completed by 2030.
The CPEC also includes six complete socio-economic projects worth $10 million while 11 projects of $90 million will be completed by 2025 and 10 projects of $900 million will be ready by 2030.
There have been a total of nine Special Economic Zones (SEZs) identified in the area, out of which four will be completed by 2025 against an investment of $500 million while the remaining five SEZs would be completed by 2030 with investment of $1 billion.
In Gwadar, the highlight of the CPEC, three projects worth $200 million have so far been completed. Two more projects of $230 million will be completed by 2025 and two more projects costing $150 million are scheduled to be completed by 2030.
As a significant part of the Belt Road Initiative (BRI), CPEC is seen as the “symbol of a new era of connectedness and integration” for Pakistan. It will not only transform the economic growth of the region but Pakistani people’s well-being, improving the GDP of both China and Pakistan by over 0.3%.