China-Pakistan Economic Corridor is a platform for development: Pakistani PM

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Pakistani Prime Minister Shahid Khaqan Abbasi says the China-Pakistan Economic Corridor, known as CPEC, is bearing fruit, providing Pakistan with a platform to achieve development and prosperity. CPEC is seen as a flagship project under the Belt and Road Initiative.

 

About CPEC “China Pakistan Economic Corridor”

China–Pakistan Economic Corridor also known by the acronym (CPEC) is a collection of infrastructure projects that are currently under construction throughout Pakistan. Originally valued at $46 billion, the value of CPEC projects is now worth $62 billion.

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CPEC is intended to rapidly modernize Pakistani infrastructure and strengthen its economy by the construction of modern transportation networks, numerous energy projects, and special economic zones.

On 13 November 2016, CPEC became partly operational when Chinese cargo was transported overland to Gwadar Port for onward maritime shipment while some major power projects were commissioned by late 2017.

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