CPEC: US$ 28 billion projects under consideration

“During tphase I of CPEC, so far US$ 25 billion investment has come to Pakistan while projects worth US$ 28 billion are under consideration,” according to Special Assistant to Prime Minister on CPEC Affairs, Khalid Mansoor. He dispelled the impression that there was a slowdown in CPEC projects.

In an exclusive interview, Mansoor said: “the early harvest projects of phase I have almost been completed. Amongst the early harvest projects, one of the main objectives was overcoming the loadshedding of electricity in the country, which had derailed Pakistan’s economy and common people were suffering.”

According to Akhtar Mansoor, so far power plants with a capacity of 5,300 MW have been completed, including coal-fired power plants (where mines have been developed), renewable energy projects (hydel, solar and wind turbine). He said 3,500 MW power projects are under construction and will enter their completion over the next six to nine months.

He said that as part of infrastructure projects, many highways have been built, which is also China’s objective to create regional connectivity. “The connectivity projects are around US$ 12 billion,” he said, adding that during the first phase development was carried out in Gwadar Port.

Mr. Mansoor said that Phase 2 of CPEC would focus on ‘Industrial revolution’, adding there are ten joint working groups (JWGs) including agriculture, IT, Science and Technology, Pharmaceutical. “I am leading a team to bring about an industrial revolution in Pakistan to revive the country’s economy,” he said.

According to Khalid Mansoor, SEZs will play a crucial role in the Industrial Revolution. “My objective is to populate at least 40 new companies in Pakistan’s SEZ,” he said, adding the majority of projects involving utilities like electricity, gas and water would be completed by the end of this year.

Regarding the ML-1 project, he said almost all issues with China have been resolved and “good news” is expected to arrive soon.