Pakistan-China economic corridor approved | Current Affairs, Current Affairs 2017

Pakistan-China economic corridor approved

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Pakistan-China economic corridor approvedThe federal cabinet of Pakistan, during a meeting, approved the Pakistan-China economic corridor, a media report said.

Approval was also given along for starting negotiations with Beijing for importing 1,000 megawatts of electricity from China by laying a new transmission line, Dawn online reported.

The Pakistan-China Economic Corridor (PCEC) is the country’s biggest road project launched by the government.

Work on one of the sections of the PCEC was initiated in December 2014, under which a motorway from Havelian to Thakot as phase one of the Islamabad-Raikot section of the corridor would be constructed.

The Havalian to Thakot section of the corridor is being financed by China while other phases will be carried out on the basis of build, operate and Transfer (BOT).

 

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