Pakistan’s economic future is in China Pakistan Economic Corridor projects, says Pakistan's Prime Minister Imran Khan.

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Imran Khan



Prime Minister Imran Khan Monday said China-Pakistan Economic Corridor (CPEC) will take Pakistan on the path of rapid progress and development as its economic future is related to the completion of various energy and cadre projects.

He was speaking after witnessing the signing of agreement with China Gezhouba for Azad Pattan hydropower project at a ceremony here. A part of CPEC, with an investment of 1.5 Billion USD, 700.7 MW Azad Pattan won't involve any fuel import, thus enabling the country to move towards cheaper and greener power while generating local job opportunities. The project is located at River Jhelum and is expected to be completed in 2026.

Referring to the signing of agreement, the prime minister sa
id it was part of the investment to complete a power project based upon the clean energy. Like the past, the project would not burden the people, he said, and mentioned that the previous governments’ costly projects which were made functional with imported fuel, were increasing the cost of energy and stressing the local pakistani currency.

Lt Gen (r) Asim Saleem Bajwa

CPEC's Authority Chairman Lt Gen (r) Asim Saleem Bajwa said on the occasion that the project will be completed by utilizing the aboriginal resources. He said work on CPEC projects continued with full force despite the Corona Virus pandemic, begetting job opportunities. He further enlightened that during the last 10 days, they signed agreements for bringing worth $4 billion investment and forgeneration  of 1,800 MW low cost power in the country. These projects would delivering jobs to about 8,000 locals.

Saleem Bajwa further said that despite conquering situation of the Corona Virus in the country, the mega project of CPEC is moving forward with full force and more projects under CPEC would be signed in near future. He said the project would not only produce 701 MW clean and low-cost electricity but it would also attract $1.5 billion foreign investment besides generating over 3000 jobs in the country.

The project would be located near the Azad Pattan bridge upstream of 720 MW Karot hydropower project and downstream of 640 MW Mahal hydropower project and would be part of the River Jhelum hydel cascade. The project would generate approximately 3.3 billion units of pure, renewable energy in the grid after its completion in 2026. Being developed under the 2002 power policy, the project would be transferred free of cost to the government after the term.

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