AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.00 Decreased By ▼ -0.53 (-0.41%)
BOP 6.76 Increased By ▲ 0.08 (1.2%)
CNERGY 4.50 Decreased By ▼ -0.13 (-2.81%)
DCL 8.70 Decreased By ▼ -0.24 (-2.68%)
DFML 41.00 Decreased By ▼ -0.69 (-1.66%)
DGKC 81.30 Decreased By ▼ -2.47 (-2.95%)
FCCL 32.68 Decreased By ▼ -0.09 (-0.27%)
FFBL 74.25 Decreased By ▼ -1.22 (-1.62%)
FFL 11.75 Increased By ▲ 0.28 (2.44%)
HUBC 110.03 Decreased By ▼ -0.52 (-0.47%)
HUMNL 13.80 Decreased By ▼ -0.76 (-5.22%)
KEL 5.29 Decreased By ▼ -0.10 (-1.86%)
KOSM 7.63 Decreased By ▼ -0.77 (-9.17%)
MLCF 38.35 Decreased By ▼ -1.44 (-3.62%)
NBP 63.70 Increased By ▲ 3.41 (5.66%)
OGDC 194.88 Decreased By ▼ -4.78 (-2.39%)
PAEL 25.75 Decreased By ▼ -0.90 (-3.38%)
PIBTL 7.37 Decreased By ▼ -0.29 (-3.79%)
PPL 155.74 Decreased By ▼ -2.18 (-1.38%)
PRL 25.70 Decreased By ▼ -1.03 (-3.85%)
PTC 17.56 Decreased By ▼ -0.90 (-4.88%)
SEARL 78.71 Decreased By ▼ -3.73 (-4.52%)
TELE 7.88 Decreased By ▼ -0.43 (-5.17%)
TOMCL 33.61 Decreased By ▼ -0.90 (-2.61%)
TPLP 8.41 Decreased By ▼ -0.65 (-7.17%)
TREET 16.26 Decreased By ▼ -1.21 (-6.93%)
TRG 58.60 Decreased By ▼ -2.72 (-4.44%)
UNITY 27.51 Increased By ▲ 0.08 (0.29%)
WTL 1.41 Increased By ▲ 0.03 (2.17%)
BR100 10,450 Increased By 43.4 (0.42%)
BR30 31,209 Decreased By -504.2 (-1.59%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

China-Pakistan Economic Corridor (CPEC) has the potential to generate an estimated $100 billion transit revenue, besides easing out energy crisis as well as creating employment opportunities. This was stated by director general Frontier Works Organisation (FWO) Major General Mohammad Afzal while speaking at a public talk on "The Role of FWO in National Infrastructure Development and Implementation of China-Pakistan Economic Corridor" organised by Institute of Strategic Studies, Islamabad (ISSI) on Tuesday.
Highlighting the geo-strategic and geo economic significance of Gwadar port and CPEC projects, he said that Gwadar is considered to be the gateway to south-west and central Asia, located at the Persian Gulf and is economically viable and shortest route for transiting. He said that the CPEC will reduce sea-land distance between Europe and western China to less than a half. He pointed out a recently concluded trial for transportation of containers from Beijing to Gwadar and Karachi through sea route and land route through Khunjerab. The transportation through land route takes almost half time, which translates into saving of over $10 billion per annum on the air route, he added.
He said that CPEC is a classic manifestation of convergence of geo-strategic and geo-economic interests of the two countries bonded in time-tested economic and diplomatic relations. Besides economic benefits, he added, it would also be a great strategic advantage in case of war in Asia.
He further said in socio-economic development, Pakistan will benefit from foreign direct investment from China, infrastructure development, easing energy crisis, becoming a regional trade hub by bringing huge transit revenues and employment opportunities. Easing out energy crisis through economic corridor will be instrumental in industrial and agriculture development, he said, adding the most conservative estimate shows projective possible revenue of over $100 billion on account of transit revenue besides creating thousands of employment opportunities. Afzal said that CPEC is going to be a game changer which will not only change the fate of people of Pakistan, but will benefit the whole region.
Referring to Indian conspiracies against the CPEC, he said the leadership of the country and the organisations are well aware of the conspiracies but there is a firm commitment to go ahead on the project. About the FWO projects on the CPEC, he said that the organisation is pioneer in implementation of the CPEC project, adding the FWO is currently working on maintaining the Karakoram Highway as well as working on the eastern and western routes of the economic corridor.
He said the FWO is committed to completing the assigned projects well before stipulated time lines. He said that FWO has already completed 556 kilometers of the 870 kilometer road network in Balochistan as part of western route of CPEC in less than one and a half year. He pointed out that Lahore-Islamabad motorways will be used initially until completion of the overall western route.
The FWO chief said that the progress of work is 1.5 kilometers per day, which is unprecedented in the field of road construction by international standards. Presently, he said that 12 units of FWO are deployed on the Balochistan projects and FWO is determined to timely complete the onerous but formidable task despite logistic concerns in the wake of remoteness of area and tough terrain conditions.
He said that FWO has employed almost 60 percent of its resources to timely complete various sections along the western route including Gwadar-Turbat-Hoshab section of Gwadar-Ratodero Highway, widening and improvement of Hoshab-Nag-Bisma-Surab Highway and few sections of Road Kalat-Quetta-Chaman. He said that completion of these roads during next year will facilitate operationalization of Gwadar Deep Sea Port through enhancing its overall connectivity. Director General, ISSI, Ambassador Masood Khan, in his remarks highlighted the measures that have been undertaken for security of the economic corridor projects.
He said that CPEC project is for the benefit of the people of Pakistan and the people will protect it. He also stated that the sheer expanse and technological thresholds of FWO have led it to undertake multiple accomplishments and initiatives at the national level, and now with regard to developing the infrastructure necessary for the implementation of the CPEC.

Copyright Business Recorder, 2015

Comments

Comments are closed.