Pak, China ‘ahead of schedule’ on CPEC projects
Pakistan and China on Wednesday gave final touches to development projects’ agreements and memorandums of understanding (MoUs) which are scheduled to be signed by the leaders of both countries during the upcoming visit of Chinese President Xi Jinping to the country.
During the sitting of China Pakistan Economic Corridor (CPEC) joint working group, both sides discussed the preparatory arrangements at length and expressed satisfaction over the progress on energy projects for achieving all deliverables ahead of the schedule.
A source privy to the details of the meeting told Pakistan Today that both the sides finalised the financing to the energy projects involving US$ 15 billion.
“Moreover, the meeting was informed that 16 projects, a part of the CPEC, were at an advance stage. Under the programme, Pakistan will install around 10,400 megawatts of electricity by the end of year 2017, as most of the energy projects will start functioning in two years,” the source added.
According to the source, the Chinese president will not only observe the ground-breaking ceremony for many of the early harvest projects, for which all the requirements had been made, but also the visiting dignitary will oversee dozens of new agreements to be signed on the occasion.