ISLAMABAD: Five years after its launch, the China-Pakistan EconomicCorridor (CPEC) has achieved magnificent results that help lay a solidinfrastructure foundation for Pakistan’s economic development.

Under the long-term and systematic framework of CPEC, several projects inareas of energy, transportation infrastructure and port construction havebeen completed.

The unprecedented CPEC projects are changing Pakistan’s business andeconomic landscape and facilitating them with basic requirements, which hashelped the country improve its international credibility and increase itseconomic growth rate to 5.8 percent in fiscal 2018 from the previous year’s3.8 percent, according to official figures.

Former Prime Minister Shahid Khaqan Abbasi, who recently concluded histenure, said last month that CPEC and cooperation with China have helpedPakistan emerge as a rising economy in the world.

The project under CPEC would accelerate economic development and furtherlink Pakistan with China, Central Asia and other parts of the world, saidAbbasi.

A couple of years ago, Pakistan was facing severe power shortage with apower cut of up to 20 hours a day. The unsolved power crises prevailing foryears was causing an unrest among the public and casting negative effectson the country’s industries and other economic activities.

Pakistan’s Ministry of Energy said that the completed CPEC power projectshave brought a great change in the energy sector by bringing the power cuthours to zero form 12-14 hours a day in 70 percent of the country.

Two coal-fired power projects equipped with the latest state-of-the-artenvironment-friendly technology — the 1,320-megawatt Sahiwal coal-firedpower project in the country’s Punjab and the Port Qasim coal-fired powerplant with the same capacity in southern port city Karachi — have alreadystarted production.

The two projects are expected to generate 18 billion kWh of electricitytogether annually, which can cater for the needs of eight million localfamilies.

The CPEC power projects not only have eased daily lives of Pakistanis butare also creating hundreds of thousands of jobs by helping restart theindustries that were closed due to power shortage.

Besides the coal-fired power plants, CPEC also provides new energy toPakistan so as to diversify the country’s energy sources to maintain itsenergy security. Part of the Quaid-e-Azam Solar Park is functional andthree wind power farms are also supplying electricity in southern Sindhprovince, while two such projects will also start their commercialoperations later this year.

Pakistan’s Ministry of Planning, Development and Reforms said that energyprojects under CPEC will double the energy-thirsty country’s currentcapacity of electricity production after their completion.

Yasir Rehman, an anchor from the official Pakistan Television, said thatthe developed infrastructure under CPEC is bringing stimulus to thePakistani economy, creating jobs and improving business by starting aconstructive process.

“Uninterrupted power supply is helping industries increase production,creating an ideal atmosphere for Pakistan’s economy,” said Rehman, addingthat with the functionalized Gwadar port, CPEC will benefit every commonPakistani.

Gwadar, the ending point of CPEC, which was once an ignored small sluggishfishing town located at the Arabian Sea in Pakistan’s southwest BalochistanProvince, is now witnessing a wave of development projects which arecreating new opportunities for employment and business.

Gwadar port, with the fully functional port terminal, regular cargoservice, free zone, business centre, is a symbol of future development andprosperity of Pakistan.

According to China Overseas Ports Holding Company (COPHC), the port’soperator, some 20 companies in different businesses have already joined theGwadar free zone with direct investment of 3 billion Chinese yuan (over 460million U.S. dollars).

Gwadar’s local people are feeling the development impetus triggered by therapidly developing port, construction of new roads, establishment andupgrading of educational institutions and hospitals, construction of a newinternational airport and installation of water purification plants.

Thousands of people, from labourers to businessmen, have migrated fromacross the country to Gwadar to grab emerging opportunities for businessand employment since the launch of CPEC.

In the meantime, CPEC has also brought major improvements and overhauls toPakistan’s transportation infrastructure by upgrading and reconstructingalready existing roads and building new superhighways.

Several transportation projects under CPEC are forming a road network inthe country to improve Pakistan’s internal connectivity as well as with therest of the world.

On May 26, Abbasi inaugurated the first section of the 392-km Multan-SukkurMotorway, the largest transportation infrastructure project under the CPECin Multan of Punjab.

The motorway is expected to cut the travel time between Multan and Sukkurfrom 10 hours to four hours at the maximum designed speed of 120 km perhour. It will also facilitate travelling in areas located alongside it.

Mumtaz Hussain, a local farmer, told Xinhua that the CPEC motorway hadgiven a new hope of prosperity to his family because now they can easilytravel to cities to sell their vegetables at a better rate.

The motorway is a symbol of close cooperation between Pakistan and China,said Abbasi, adding that CPEC is the implementation of Chinese vision ofconnectivity and opening up under the Belt and Road Initiative that isbringing great economic opportunities to Pakistan and the region.

According to Chinese Ambassador to Pakistan Yao Jing, Chinese companiesunder CPEC projects have provided over 100,000 jobs to local people andhave helped to uplift their living standards through social welfare works,including restoring and establishing schools and technical trainingcentres, providing health facilities, and sending hundreds of youngsters toChina for further study.

Former Minister for Planning, Development and Reform Ahsan Iqbal hailedCPEC as it has brought actual positive changes in the lives of millions ofPakistanis.

“CPEC is a national agenda and has been put into implementation in recordtime due to the solid commitment of both Pakistani and Chinese leadership,”said Iqbal. (*Xinhua)*