Posted on 8 May, 2018 at 02:00 PM
China Pakistan Economic is an important project reached by the two countries. It has great importance due to its strategic position. CPEC was executed in May 2013 and both sides agreed to promote a 1+4 pattern of economic cooperation. 1+4 projects are termed as CPEC and four major areas including the Gwadar port, transportation, energy and industrial cooperation.
During the visit of Prime Minister Imran Khan to China, both sides reaffirmed the future trajectory of CPEC and its ongoing projects with a focus on social economic development, job creation, livelihood and cooperation between industrial parks and agriculture. over the past 5 years, almost 11 projects have been completed under CPEC and 12 projects are under development. The total investment of 23 projects is 18.9 billion. There are 20 more projects are under consideration.
CPEC is one of the largest projects under CPEC and it is one of the great political, social and economic significance to Pakistan and China.
Both countries set up a Joint Cooperation Committee and there are 7 joint working groups under JCC namely energy, planning, energy, transportation, Industrial cooperation, Gwadar port, social economic development and international development. The JCC secretaries are established in the Ministry of Planning and National Development and Reform Commission. Both are responsible for communicating and coordinating with each other regarding CPEC projects.
Energy is the major power engine and economic development which provide the facility to industries and improve the lives of millions of people.
Pakistan and China-focused and highlighted the energy projects. There are 15 energy projects which are planned as the total generation capacity of 11,110 MW. Almost 7 projects are completed and are in operation while 6 projects are under construction with capacity of 6,910 MW.
CPEC energy projects include hydro, coal-fired and solar power plants. These energy projects are providing