Minister announces completion of 36 CPEC projects worth $24 billion

ISLAMABAD-Caretaker Planning, Development and Special Initiatives Minister Muhammad Sami Saeed on Monday said that 36 projects with a cumulative value of $24 billion have been successfully completed under the China-Pakistan Economic Corridor (CPEC).
Additionally, 22 projects with a total investment of five billion dollars are currently under construction, he said while concluding a debate on motion under rule 218 in Senate, focusing on the underdevelopment of Balochistan despite the claims of successive governments to promote the region’s growth through CPEC and other Foreign Direct Investment (FDI) projects. Providing further insights in CPEC at the national level, the minister informed the House that negotiations are underway for 26 projects, totaling 27 billion dollars under the CPEC framework. Furthermore, 27 other projects dedicated to the social and economic development of Balochistan are actively under implementation.
Sami Saeed highlighted the significant allocation for Balochistan in the Public Sector Development Programme (PSDP), emphasising that the province has received a higher share compared to other regions in recent years. For the current year, the PSDP stands at Rs950 billion, out of which 400 billion is allocated to national projects. Specifically, 15 percent of the programme is dedicated to Balochistan, with an additional 14 percent for province-specific projects. This totals to one-third of the PSDP, amounting to Rs285 billion, earmarked for projects related to connectivity, roads, and water, including the implementation of various dam projects.
The development of Gwadar City and Gwadar Port remains a central focus of CPEC, as the minister outlined the completion of 36 projects worth 24 billion dollars and the ongoing construction of 22 projects with a budget of five billion dollars. Additionally, 26 projects, valued at 27 billion dollars, are under negotiation within the CPEC framework, while 27 other projects aimed at Balochistan’s social and economic development are actively underway. Providing specific updates on Gwadar, Sami Saeed stated that significant milestones, such as the completion of the master plan for Gwadar City, the East Expressway, and an international airport (anticipated completion in June), showcase the progress.