ISLAMABAD: According to Planning Commissions Center of Excellence (COE) forCPEC has evaluated China’s overall contribution to Pakistan’s developmentcould go over $100 billion by 2030.

As per estimates of COE, the ongoing and upcoming development projectswould add to China’s total contribution crossing $100 billion by 2030,reported The News.

Executive Director, COE, Dr Shahid Rashid in a press briefing at PakistanInstitute of Development Economics (PIDE) on Thursday said total cost ofCPEC projects had risen from $46 billion to $62 billion and it is expectedthe cost would further rise to $100 billion by 2030 by addition of moreprojects under CPEC.

Mr. Rashid said COE for CPEC had been tasked with carrying outevidence-based research on different aspects of the project and told aboutgrants to be provided to 107 researchers across the country.

When asked about influence of CPEC on Pakistan’s rising trade and currentaccount deficits, he said studies were being carried out to improve tradebalance with China but highlighted this project wouldn’t resolve alleconomic ills of the country.

He told over 39 projects financed under CPEC and $29 billion projects werein advanced stages of completion under early harvest programme.

COE for CPED added Pakistan could gain a lot from China’s plan to relocatesome of its industries but it was significant for Islamabad to grab thischance as Beijing was planning to relocate industries in over 68 countrieswhere projects were being undertaken under One belt, One road (OBOR)initiative.

Regarding Gwadar port’s handing over to China Overseas Port Holding CompanyLimited (COPHL), he said it was given the same terms as Singapore PortAuthority (SPA) but the latter didn’t do any development at all.

COPHL has been granted hold of Gwadar Port on built, operate and transfer(BOT) basis and would break-even within five years’ time.