56 projects successfully launched under CPEC: Survey

ISLAMABAD: The government is expanding the scope of China-Pakistan Economic Corridor (CPEC) to explore the “Gateway of Prosperity” for both countries and the region at large through advancement of railway sector.

According to the Economic Survey 2021-22 launched by Minister for Finance and Revenue Miftah Ismail along with Minister for Planning, Development and Special Initiatives Ahsan Iqbal, Minister for Power Khurram Dastgir and Minister of State for Finance and Revenue Aisha Ghaus Pasha, the government considers CPEC as a long-term development project as it has the potential to serve as a corridor with multiple doors connecting China with Central Asia, Middle East, Africa and Europe.

The survey said the Chinese and Pakistani workforce, in a large number, was employed to ensure timely completion of the infrastructure projects and launched new projects such as Sukkur-Hyderabad Motorway (M-6), Peshawar-DI Khan Motorway (M-14), KKH Alternative Route (Gilgit-Shandor-Chitral), Swat Expressway (Phase-II), Dir Expressway, and Karachi Circular Railways.

Pakistan Railways is one of the key modes of transport in the public sector which promotes national integration and economic growth.

During July-March FY 2022, the gross earnings of railways were recorded at Rs 43,731.59 million.

“A network of roads, highways, motorways, sea ports, and airlines in a country makes it a center of economic activity by attracting investment, raising productivity and reducing cost of doing business,” it said.

The government is committed to upgrade the transportation and communication system with the development of new roads, highways motorways, railway tracks and airports to improve connectivity under CPEC.

The CPEC is pragmatic step for converting unique geo-strategic location of Pakistan into geo-economics through various transport related projects that would transform road infrastructure of Pakistan and improve access to central Asian, African and European states, it added.