Update on 12 April 2015
QUETTA: Balochistan Chief Secretary Saifullah Chattha has said several mega projects, including the Gwadar Economic Free Zone, West Bay Expressway and Gwadar airport, would be inaugurated during the Chinese president’s visit to Pakistan on 20-21 April.
Update on 11 March 2015
KARACHI: Prime Minister Nawaz Sharif arrived in Karachi on Wednesday to inaugurate the first phase of the Karachi-Lahore (M-9) Motorway, which will cost Rs. 36 billion. M-9 will facilitate people commuting between Karachi and major cities including Sukkur, Badin, Ghotki, Rohri, Dadu, Pannu Aqil, Abro, Sadiqabad, Rahim Yar Khan, Zahir Pir, Jalalpur Peerwala, Abdul Hakim, Mamu Kanjan and Nankana Sahib.
Industrial parks and special economic zones are part of the China-Pakistan Economic Corridor (CPEC) memoranda of understanding recently agreed between the leaders of the two countries.
The key pre-requisite for the establishment of these zones are resolution of the energy crisis and building of a competitive infrastructure in Pakistan.
Energy and infrastructure
The first phase of the economic corridor is focused on $45.6 billion worth of energy and infrastructure projects. China’s state-owned banks will finance Chinese companies to fund, build and operate $45.6 billion worth of energy and infrastructure projects in Pakistan over the next six years, according to Reuters.