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China-Pakistan Economic Corridor (CPEC)

China-Pakistan Economic Corridor (CPEC):

Pakistan’s new government has initiated a process to abolish the China-Pakistan Economic Corridor Authority, with the planning minister saying it was a “redundant organisation” that wasted resources and thwarted speedy implementation of the ambitious regional connectivity programme.

  • CPEC Authority established through an ordinance in 2019 was aimed at accelerating the pace of CPEC-related activities, finding new drivers of growth, unlocking the potential of interlinked production networks and global value chains through regional and global connectivity.
  • CPEC launched in 2015, the CPEC is the flagship project of the multi-billion-dollar Belt and Road Initiative (BRI), a pet project of Chinese President Xi Jinping, aimed at enhancing Beijing’s influence around the world through China-funded infrastructure projects.
  • The 3,000 km-long China–Pakistan Economic Corridor (CPEC) consists of highways, railways, and pipelines.
  • CPEC eventually aims at linking the city of Gwadar in South Western Pakistan to China’s North Western region Xinjiang through a vast network of highways and railways.
  • The proposed project will be financed by heavily-subsidised loans, that will be disbursed to the Government of Pakistan by Chinese banks.

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