ISLAMABAD: Minister for Planning, Development and Reforms Ahsan Iqbal Wednesday said China Pakistan Economic Corridor (CPEC) would be beneficial for the country and the whole region.
The CPEC is a national mega project and would further strengthen the economy. A national consensus was evolved on the corridor as it would bring economic revolution and provide equal benefits to all the provinces, he said talking to PTV.
He said a Memorandum of Understanding (MoU) of CPEC was signed in 2013, but was delayed due to Pakistan Tehreek-e-Insaf (PTI) sit-in in the country. It was properly launched in April 2015.
Ahsan Iqbal said the paperwork was converted into reality as China was investing $ 46 billion through CPEC out of which US $ 35 billion would be spent in energy sector through private investor and the Pakistan government would purchase low cost electricity from private investor to meet the growing demand.
He said CPEC would add 10,000 MW electricity in national grid till 2018. Some 1,320 MW electricity would be produced through Karachi port.
He said, "We are focusing to update Gwadar, overcome energy crisis and building the infrastructure to improve connectivity between Pakistan and China."
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