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World Bank showing interest in development projects under CPEC: Khalid Mansoor

source: online

ISLAMABAD: Special Assistant to Prime Minister on China Pakistan Economic Corridor (CPEC) affairs Khalid Masood had revealed that several countries and World Bank have shown keen interest in development projects under the CPEC umbrella.

While talking to a presser, Khalid Mansoor had updated people about the current status and prospects of CPEC. He also stated that any country can take part in CPEC’s development projects.

PM’s special aide further mentioned, “CPEC is the last chance of industrialization in the country”. According to his information in 2013, there was an acute power shortage due to which the country had to face 2.5% GDP losses after which to meet the country’s power requirements 17,000 MW of electricity was generated under CPEC.

Read also: PM’s aide accuses US, India of trying to sabotage CPEC

Furthermore, while talking about the current status of development in CPEC projects, Mansoor said, energy projects of 5300MW worth $ 13 billion have already been established under CPEC.

Stating about the delayed projects of CPEC, he said “Six power sector projects worth $5 billion are facing delay due to no approval from Sinosure. The interest on Government loan was 2 percent while on commercial loan it is 5.2 percent.”

Meanwhile, Khalid Mansoor revealed about the projects under pipeline saying, “My focus is now on four Special Economic Zones (SEZs) which are necessary to attract foreign investment.” Mansoor explained that medium-term projects have to be established by 2025.