ISLAMABAD: Minister for Planning, Development and Reforms Ahsan Iqbal on Wednesday said that China Pakistan Economic Corridor (CPEC) would be beneficial for the country as well as the whole region.
The CPEC is a project which 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.
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 $35 billion would be spent in energy sector through private investors.
He said CPEC would add 10,000MW electricity to the national grid by 2018, while 1,320MW electricity would be produced through Karachi port. “We are focusing to update Gwadar, overcome energy crisis and building the infrastructure to improve connectivity between Pakistan and China,” he said.
