CPAC(China Pakistan Economic Corridor)
CPEC (
) is an economic corridor between China and Pakistan. At Present, that corridor is an under construction which estimated cost above 54 billion dollars. The aims of this project to connect Gwadar Port in Southwestern Pakistan with Xinjiang in far -Western China. The Project including various infrastructure in terms of energy projects, motorways, Highways and Railways to be built, in order to link Gwadar and karachi with the chinese region.
The Vision and Mission of CPEC is
To improve the lives of people of Pakistan and China by building an economic corridor promoting bilateral connectivity, construction, explore potential bilateral investment, economic and trade, logistics and people to people contact for regional connectivity & It includes:
- Integrated Transport & IT systems including Road, Rail, Port, Air and Data Communication Channel
- Energy cooperation etc.
Liquefied natural gas power LNG projects are also considered vital to CPEC. The Chinese government has announced its intention to build a $2.5 billion 711 kilometre long liquid natural gas pipeline from Gwadar to Nawabshah in province as part of CPEC.The project will not only provide gas exporters with access to the Pakistani market, but will also allow China to secure a route for its own imports.
CPEC is considered economically vital to Pakistan in helping it drive economic growth. The Pakistani media and government have called CPEC investments a “game and fate changer” for the region, which would be one of the largest ever sums of foreign direct investment into Pakistan. As a result of improved infrastructure and energy supplies, the Pakistani government expects that economic growth rates will reach 7% by 2018. China Pakistan Economic Corridor is hope of better region of the future with peace, development and growth of economy.