Pakistan Celebrates $25 Billion milestone in CPEC Projects at Belt and Road Forum

During the Belt and Road Forum in Beijing, Caretaker Prime Minister Anwaar-ul-Haq Kakar announced that his country has successfully executed more than 50 projects valued at $25 billion as part of the China-Pakistan Economic Corridor (CPEC).

Kakar emphasized that one particularly noteworthy project, a substantial airport located at the Gwadar port funded by China as a component of CPEC, is set to be inaugurated in the near future.

This initiative, a flagship within China’s Belt and Road Initiative, has earmarked over $65 billion for the development of road networks, railways, and other infrastructure in Pakistan, a nation with a population of 241 million.

Notably, the Belt and Road Forum in Beijing drew participation from representatives of over 130 countries, primarily from the Global South, and included several heads of state. Among them, Russian President Vladimir Putin was notably described as Chinese President Xi’s “dear friend.”

The construction of industrial zones, through a collaboration between China and local Pakistani entities, is still in progress, along with a railway track spanning over 2600 kilometers, a project of nearly $7 billion, marking the largest undertaking within the CPEC.

Furthermore, Kakar expressed optimism that clean energy projects will reach completion within the next four to five years as part of the CPEC.