CPEC continues to play a key role in enhancing regional connectivity and driving economic growth, according to Finance Minister Muhammad Aurangzeb.
He noted that multiple development projects are actively progressing under CPEC. In the transport infrastructure sector alone, eight projects worth $6.7 billion have been finalized, while others are ongoing.
Among these are the construction of 888 kilometers of motorways and highways, with another 853 kilometers currently being built through local funding, as per a report by Gwadar Pro.
While launching the Pakistan Economic Survey 2024–25, the finance minister shared that the country’s GDP growth for the outgoing fiscal year is projected at 2.7 percent.
The survey highlighted CPEC’s major achievements, especially in transport development and strategic infrastructure around Gwadar Port.
Inflation for the fiscal year was recorded at 4.6 percent, as the government focuses on stabilizing the economy and advancing major infrastructure and trade initiatives.
Aurangzeb emphasized the need to maintain economic stability and acknowledged that the country is now heading in a more positive direction.
He pointed out that notable CPEC successes include the award-winning 120-kilometer Havelian-Thakot section of the Karakoram Highway.
Other significant projects already in operation include the 392-kilometer Multan-Sukkur Motorway, the 297-kilometer Hakla-D.I. Khan Motorway, and the 110-kilometer Khuzdar-Basima Highway.
He asserted that CPEC is a critical component in integrating Pakistan with global and regional supply chains, fostering inclusive development, trade, and investment.
The survey also documented advances in digital and urban connectivity, including the completion of a cross-border fiber optic cable and Lahore’s Orange Line Metro Train.
The operationalization of the New Gwadar International Airport has further strengthened the region’s air connectivity.
Ongoing projects like the Zhob-Kuchlak, Nokundi-Mashkhel, and Awaran-Khuzdar road sections, as well as feasibility studies for the Babusar Tunnel and the Mirpur-Muzaffarabad-Mansehra corridor, reflect sustained momentum in infrastructure development under CPEC.
The Main Line-1 (ML-1) railway upgrade is currently under technical and financial review, and a framework agreement on the Karachi Circular Railway has been submitted to the Chinese side for consideration.
The survey also recorded substantial progress in developing Gwadar Port and its Free Zone.
Since 2013, the China Overseas Ports Holding Company Limited (COPHCL) has invested over $50 million to modernize the port’s infrastructure, which is now fully functional and handling commercial traffic.
A pilot area covering 60 acres within the Gwadar Free Zone has been developed, hosting enterprises in finance, manufacturing, logistics, and fisheries sectors.
According to the survey, the company has committed a total investment of $250 million in the Gwadar Port Free Zone.
To encourage investment, Pakistan has provided incentives such as a 23-year tax holiday, full ownership rights for foreign investors, and streamlined one-window operations.
COPHCL has also finalized the master plan and feasibility study for the main Free Zone, which spans 2,281 acres.
In response to Gwadar’s water shortage, a China-funded reverse osmosis plant with a capacity of 1.2 million gallons per day was completed in June 2023 under a socioeconomic development initiative.
This facility is expected to meet the water needs of both the Gwadar Port vicinity and the Free Zone’s first phase.
For 2024–25, the federal government has allocated funds under the Public Sector Development Programme (PSDP) for further initiatives in Gwadar, including land acquisition, housing infrastructure, and Phase II of the East Bay Expressway.
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