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How will CPEC Boost Pakistan Economy ?
China Pakistan Economic Corridor is a 3,218 kilometer long route, to be built over next several years, consisting of highways, railways and pipelines. The actual estimated cost of the project is expected to be US$75 billion, out of which US$45 billion plus will ensure that the corridor becomes operational by 2020. The much advertised China-Pakistan Economic Corridor will pass through the beautiful Gilgit-Baltistan province in the north which will connect Kashgar in China’s western province Xinjiang to rest of the world through Chinese-operated Gwadar port in the country's south.
China Pakistan Economic Corridor is expected to be completed by 2020 opening doors to immense economic opportunities not only to Pakistan but will physically connect China to its markets in Asia, Europe and beyond. Almost 80% of the China’s oil is currently transported from Strait of Malacca to Shanghai, (distance is almost 16,000 km and takes 2-3 months), with Gwadar becoming operational, the distance would reduce to less than 5,000 km.