CPEC officials shared the latest development on the project after Bloomberg calls it ‘a corridor to nowhere’

In response to the article, the CPEC officials shared the latest development on the official Twitter page.

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CPEC

Recently, Bloomberg Economics published an article about the China Pakistan Economic Corridor (CPEC).

According to the article, the project becomes a corridor to nowhere.

In response to the article, the CPEC officials shared the latest development on their official Twitter page.

Latest Development

China and Pakistan are all-weather strategic partners that support each other on their core interests.

Due to the project, Gwadar is now operational for exports. Seafood export, in reefer containers, using web-based one customs system, started on the 19th of November 2019.

The recently revealed Gwadar master city plan will make the city the economic hub of South Asia with a GDP per capita of $15,000 – 10 times that of Pakistan’s average.

The Government has elevated the four-year ban on the issuance of no-objection certificates (NOCs) to the investors to accelerate the development activities of the Gwadar Master City Plan.

Three hundred MW Coal-Fired Power plant is being constructed in Gwadar under the CPEC, which will improve access to electricity for local people.

Gwadar’s first LPG (liquefied petroleum gas) Terminal has been launched and became operational with the arrival of Sahar Port, carrying 3,900 metric tons of LPG from Muscat.

The Gwadar seaport has officially started handling transit cargo to and from Afghanistan. The first cargo container consisting of fertilizer consignment reached Gwadar port from the UAE.

According to the official statement, 46% work on the Gwadar East Bay expressway has been completed while the new Gwadar International Airport is being constructed with the Chinese grant.

More than 75,000 jobs 

Under the CPEC, more than 75,000 jobs have been created directly for the Pakistanis, with per capita income increasing by 23%.

More than hundred SME’s have participated in the construction of the CPEC, providing thousands of jobs.

The China-Pakistan Economic Corridor (CPEC) has brought tangible economic and social benefits to Pakistan since its construction in more than six years, which is widely recognized.

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