Pakistan

LAHORE (Staff Report) – Federal Minister for Planning, Development and Reform Ahsan Iqbal has said that completion of China-Pakistan Economic Corridor project will trigger massive foreign investment in the country.

Addressing a seminar in Lahore on Saturday, he said CPEC is a long-term project, which will be completed in fifteen years.

The Minister pointed out that priority has been given to the development of Gwadar port and international airport under this mega project.

He said energy projects have been given emphasis in CPEC to meet the growing energy requirements of the country. He said out of forty-six billion dollars, thirty-five billion dollars investment will be made in the energy sector. Sindh is the major recipient of investment in this vital sector followed by Balochistan and Punjab provinces.

Ahsan Iqbal said CPEC is not the name of a road, but the project will ensure greater regional economic integration through various projects. Development of road infrastructure will lead to economic activity in all areas of the country, especially the backward ones.

He said the missing links of the western route of CPEC will be completed by the end of this year, which will make it fully operational. The western route is being developed on modern lines; and initially, it will be a four-lane expressway.