Pak-China Economic Corridor

Economics

Pak-China Economic CorridorPresented by :Abdul Haseeb 133315

IntroductionTheChinaPakistan Economic Corridor(CPEC)is a ongoing developmentmegaprojectwhich aims to connectGwadar portin southwestern Pakistan to Chinas northwestern region ofXinjiang, via a network of highways, railways and Pipelineto transport oil and gas.Economics

Historical Background Of GawadarOn 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

Background Of ProjectThe 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

AgreementOn 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

Major ProjectsEconomics

Energy ProjectsWind EnergyJhimpir wind Power projectDawood Wind Power ProjectCoal Power PlantHubco Coal-fired Power Plant ProjectDevelopment of Private Hydro Power ProjectsNuclear Power PlantKanupp-II, Kanupp-III.Coal Power PlantZonergy 9x100 MW solar project in PunjabHydro Power Plant720MW Karot Hydropower ProjectDevelopment of Private Hydro Power ProjectsEconomics

Infrastructure ProjectsGwadar Port up gradationLahore Karachi MotorwayPeshawar Karachi MotorwayHavelian-Khujerab RailwayHazara MotorwayGwadar Ratodero MotorwayGwadar International AirportLahore Orange Lane Metro TrainEconomics

PCEC Importance to ChinaChinese 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

PCEC Importance to China

PCEC Importance to ChinaIt 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 USAs interference.New business market in another country.

Economics

Importance to PakistanStrategic and economic trade routes.Development of Infrastructure.Connect all the Province.Development of Fata, KPK and Baluchistan.Job opportunitiesEqualization among Provinces.Economics

Importance to PakistanEconomics

ConclusionPak-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 bondThis historic friendship is termed as stronger than steel, sweeter than honey, deeper than ocean, higher than mountain Economics

SuggestionsEstablishment 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

Any Questions?Economics

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