China’s total contribution & investment in the CPEC project was analyzed by Planning Commissions Center of Excellence (COE) for CPEC & it came to light that the investment will cross $100 billion by 2030.
The current projects that are going on & the upcoming new projects will add up the total contribution by China & it will definitely cross the $100 billion by 2030 as reported by The News.
Dr. Shahid Rashid Executive Director, COE in a press briefing at Pakistan Institute of Development Economics (PIDE) said that the total CPEC projects cost has gone up to $62 billion from $46 billion. The expectation is that the cost will further increase to $100 billion by 2030. As more projects will be added & more money will be needed for those projects thus the $100 billion mark will cross.
Mr. Rashid informed that COE for CPEC has been given the task to carry out research on various sides of the CPEC projects & grants will be given to the 107 researchers all over Pakistan.
To a query relating to CPEC’s influence on Pakistan’s growing trade & economy, Dr. Rashid said that different studies & work is done to bring betterment in trade balance with China, but CPEC cannot solve all economic issues of Pakistan.
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He informed that CPEC is currently financing 39 projects $29 billion worth projects will complete soon.
COE for CPEC furthermore revealed that from China’s goal to relocate it’s few industries, Pakistan can benefit. Islamabad should take advantage of this opportunity as Beijing is looking to relocate some of its industries in 68 countries all over the world, where different projects are ongoing under the One belt, One road (OBOR) initiative.
China Overseas Port Holding Company Limited (COPHL) was handed over the Gwadar port on this he said that same terms were given to COPHL as were given to it Singapore Port Authority (SPA) but the latter didn’t work at all on it.