CPEC presenting new hopes in 2023

BEIJING: The sun of 2023 has emerged with new hopes for the China-Pakistan Economic Corridor (CPEC) against the backdrop of fresh commitments to pump up more Chinese investments, rollout of three new CPEC corridors, resumption of cultural exchange programs, and activation of Special Economic Zones.
In 2023, CPEC is all set to take a centre stage in the 72 years of Pak-China diplomatic relations. As per a report titled “Overview of Pakistan’s Power Sector and its Future Outlook” issued by the China Three Gorges South Asia Investment Ltd (CSAIL), a total of more than 36 CPEC projects, with a projected expenditure of $27.5 billion, are in the works and it is believed that many of them will cross the finishing line by 2030.
The CSAIL report said that 11 energy projects and seven infrastructure projects with a total investment of $18.7 billion have already been finished, while ten additional projects – four in energy and six in infrastructure – are now undergoing implementation and are anticipated to be finished in coming years.
“Moreover, five Special Economic Zones (SEZs) will make tangible headways in 2023 with an investment of $1 billion. Four of the nine identified Special Economic Zones (SEZs) would be completed in coming years with an expenditure of $500 million,” the report said. The year 2023 is also marking CPEC- Collaborative Research Grant (CPEC-CRG) which is one of the key component of recently launched HEC initiative namely “Academic Collaboration under CPEC Consortium of Universities”. The overall objective of the said project is to understand and respond to the historic global geo-strategic and geo-economic transition and its impact on the region in general and Pakistan in particular, keeping in the view the broad Chinese Belt and Road Initiative and its Pakistan-specific component CPEC. –Agencies