Pakistan and China have embarked upon an extensive programme for infrastructure development.
The latest Pakistan Economic Survey highlights that China Development Bank, the Export-Import Bank of China and other financial institutions will be funding an array of projects.
A number of the China-Pak Economic Corridor (CPEC) projects are at different stages of planning and execution. They will include commercial loans, export credit, and concessional loans.
One project includes the Karakorum Highway Phase-II from Raikot to Islamabad. This 487km portion will be built at a cost of RE379bn and the project will start in December 2014.
Another project listed is the Multan-Sukkur section of Karachi-Lahore Motorway, which will be constructed at a cost of RE246bn. The project is likely to be initiated in October 2014 and completed in December 2017.
There is also a plan for rehabilitation and upgrading of the 1,736km-long Karachi-Lahore-Peshawar railway track. It will cost US$3.65bn. All these projects will be completed by the end of 2017.
A dry port is to be constructed at Havelian at a cost of US$40mn.
Pakistan has proposed China to consider establishing a low cost Economic Corridor Investment Fund initially of US$20bn, US$10bn for energy and US$10bn for infrastructure to support Chinese companies to invest in public and private sector projects under CPEC.
