Pakistan and China, in their recent collaborative study, found out that Pakistan’s power sector supply-demand will remain balanced over the next 11 years, from the year 2019 to 2030. Hence, both countries decided to readjust the list of power projects under the CPEC (China Pakistan Economic Corridor).

According to the reports, Pakistan and China undertook Joint Study on Pakistan Power Market to make evidence-based decisions for the upcoming projects. The report concluded that between the year 2019 to 2030, power will basically be balanced in Pakistan.

“After 2025, apart from a minor surplus in specific years due to concentrated commissioning of power generation projects, Pakistan may enjoy balance generally in all the other years,” the study found.

Both sides agreed that the projects need to be readjusted under the Supplementary Protocol to Agreement on the CPEC energy projects cooperation agreement, signed between China and Pakistan on February 3, 2016.

Projects maintained steady progress:

Following the plan, the energy cooperation between both friends countries has shown consistent, steady progress. Till the statistic of September 2019, ”12 power generation projects have either started construction or been in commercial operation already, with a total installed capacity of 7,240 MW and a total investment of about $12.4 billion.”

The energy projects under CPEC have significantly contributed to Pakistan’s socio-economic development. According to the available statistics, COD CPEC projects paid a tax of about $250 million during the fiscal year of 2018-2019. Not just this, about 10,000 jobs were also created during the mentioned period.

CPEC projects have been strictly reviewed under the policy for sustainable development. The projects are consistent and fall within the policy and regulatory framework of Pakistan.

---

Also See:

Chinese Currency To Be Used Instead Of Dollar In New Energy Projects Under CPEC

---

What are your views on this? Share with us in the comments bar below.