Gwadar port to bring prosperity: Bajwa
by Shafqat Ali
Islamabad, August 8 (Gwadar Pro) - China-Pakistan Economic Corridor Authority Chairman Lieutenant General Asim Saleem Bajwa (retd) has said the Gwadar port will soon be completed and would bring prosperity to remote regions.
Speaking at a webinar organized here by Sustainable Development Policy Institute (SDPI) on Friday evening, Bajwa said the government wanted to transfer China-Pakistan Economic Corridor (CPEC) dividends to the masses as the mega project enters into the second phase.
Asim Saleem Bajwa said Gwadar project exceeds its primary goal of mobilising a deep seaport and extends to encompass development of Gwadar Economic District and socioeconomic progress in South Balochistan.
On the occasion, Chinese Ambassador to Pakistan Yao Jing spoke in appreciation of the collaboration and economic partnership between Pakistan and China through CPEC and development of the Gwadar port.
Despite challenges of coronavirus pandemic, breakthroughs were made in the implementation of Gwadar project, he added.
This week, the Executive Committee of the National Economic Council (Ecnec) had approved the strategically important Mainline-1 railway project of the CPEC worth $ 6.8 billion, paving way for loan negotiations with Beijing, which would finance 90% of the cost.
Under the CPEC Framework, ML-1 is the only strategic project being finalised as part of the initial $ 46 billion deals.
The local component of the ML-1 project has been estimated at Rs 672.8 billion or slightly over $ 4 billion. The foreign exchange component is estimated at $ 2.71 billion.
Under the project, the existing 2,655-km long track will be upgraded. The speed of passenger trains will increase from 65 to 110 km/hour to 165 km/hour and the line capacity will increase from 34 to 137/171 trains each way per day.
Earlier on Friday, Federal Minister for Railways Sheikh Rasheed Ahmed said that ML-I railway project will further strengthen relationship between Pakistan and China.
Speaking to Chinese Ambassador Yao Jing in Islamabad, he said the project will be the first step toward modern railway system in Pakistan and will also bring economic development to the country.
The minister said a new railway track of 1872 kilometer will be constructed between Karachi and Peshawar at an estimated cost of 6.8 billion dollars.
He said the project will provide direct or indirect job opportunities to around 150, 000 people.
Gwadar port is the deepest sea port of the world, situated on the Arabian Sea at Gwadar, Balochistan province of Pakistan and is under the administrative control of the Maritime Secretary of Pakistan and operational control of the China Overseas Port Holding Company.
The port features prominently in the CPEC plan, and is considered to be a link between the Belt and Road Initiative and the Maritime Silk Road projects.
It is about 120 kilometres southwest of Turbat, and 170 kilometres to the east of Chabahar Port in Iran's Sistan and Baluchestan province.
Gwadar's potential to be a deep water sea port was first noted in 1954, while the city was still under Omani suzerainty.
Plans for construction of the port were not realised until 2007, when the port was inaugurated by then President Parvez Musharraf after four years of construction, at a cost of $ 248 million.
In 2015, it was announced that the city and port would be further developed under CPEC at a cost of $1.62 billion, with the aim of linking northern Pakistan and western China to the deep water seaport.
The port will also be the site of a floating liquefied natural gas facility that will be built as part of the larger $ 2.5 billion Gwadar-Nawabshah segment of the Iran–Pakistan gas pipeline project.
