Pak china economic corridor
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The document summarizes the China-Pakistan Economic Corridor (CPEC) project which aims to connect China's Xinjiang region to Pakistan's Gwadar port through highways, railways, and pipelines. The $46 billion project includes 51 projects focused on energy generation, infrastructure development, and communications. It is an important project that will benefit both China and Pakistan by providing China an independent trade route, reducing transportation costs and times, and helping Pakistan's infrastructure and economic development through investments and job creation.
Pak china economic corridor
- 1. Economics
- 2. Pak-China Economic Corridor Presented by : Abdul Haseeb 133315
- 3. Introduction • The China–Pakistan Economic Corridor (CPEC) is a ongoing development megaproject which aims to connect Gwadar port in southwestern Pakistan to China’s northwestern region of Xinjiang, via a network of highways, railways and Pipeline to transport oil and gas. Economics
- 4. Historical Background Of Gawadar • On 8 September 1958, Pakistan purchase Gawadar Enclave from Oman for $3 Million by Prince Karim Agha Khan. • In 1993, The government of Pakistan conceived a plan to develop Gawadar into a major port city. • Phase 1 of Gawadar was completed in 2007, and inaugurated on 20 March 2007. Economics
- 6. Background Of Project • The Project was proposed by Chinese premier Li Keqiang during his visit to Pakistan in May 2013. • The Pak-China Economic Corridor was inaugurated in Islamabad on 27 August 2013. • The vision for the economic corridor stretches far back as Musharraf era Economics
- 7. Agreement • On 20 April 2015, Pakistan and China signed an agreement to commence work on the $46 billion on 51 Projects with approximately $28 billion in immediate projects and the rest allocated for projects in the gas or oil pipeline. Economics
- 8. Major Projects Sales Energy ($33.8 billion) Infrastructure ($11.8 billion) Communication ($44 Million) Cotton biotech research Economics
- 10. Energy Projects – Wind Energy • Jhimpir wind Power project • Dawood Wind Power Project – Coal Power Plant • Hubco Coal-fired Power Plant Project • Development of Private Hydro Power Projects – Nuclear Power Plant • Kanupp-II, Kanupp-III. – Coal Power Plant • Zonergy 9x100 MW solar project in Punjab – Hydro Power Plant • 720MW Karot Hydropower Project • Development of Private Hydro Power Projects Economics
- 11. Infrastructure Projects • Gwadar Port up gradation • Lahore Karachi Motorway • Peshawar Karachi Motorway • Havelian-Khujerab Railway • Hazara Motorway • Gwadar Ratodero Motorway • Gwadar International Airport • Lahore Orange Lane Metro Train Economics
- 12. PCEC Importance to China • Chinese industries are facing problems to compete in global market due to high transportation cost and delivery time. • China is using a longest way due to which transportation cost and time increases, which gives a competitive edge to competitors e.g. Japan, USA. Economics
- 13. PCEC Importance to China
- 14. PCEC Importance to China • It would decrease the travel distance and cost greatly from China to Gulf. • Even if China uses PCEC for 50% of its Oil supplies then it will save $6 Million every day, almost $2 billion every year. • Independent path from India and USA’s interference. • New business market in another country. Economics
- 15. Importance to Pakistan • Strategic and economic trade routes. • Development of Infrastructure. • Connect all the Province. • Development of Fata, KPK and Baluchistan. • Job opportunities • Equalization among Provinces. Economics
- 16. Importance to Pakistan Economics 0 10 20 30 40 50 CPEC investment agreement Pakistan's current foreign reserves $46 billion $17.7 billion Series 1
- 17. Conclusion • Pak-China relationship holds great importance in the world. • Pak-China friendship is not only at political level but people of both countries shares a deep and special bond • This historic friendship is termed as “stronger than steel, sweeter than honey, deeper than ocean, higher than mountain” Economics
- 18. Suggestions • Establishment of interaction between youth of both countries will be a good plan. • Pakistan provide proper security to Chinese workers and Engineers. • Export or Import on equal basis because Pakistan import more goods than export. Economics
- 20. Good Bye