November 22, 2018
CPEC Takes Major Amount of the Development in Budget 2018-2019
The budget 2018-19 is the most critical budgets in the history of Pakistan when we consider the significance of the CPEC in not only Pakistan but also in China. The Government has allocated almost Rs. 198 billion for development different projects which are in progress under China-Pakistan Economic Corridor. Under this budget, new different projects and projects are being started, such as development Gwadar, which is said to take up an investment of Rs. 137 billion. These numbers give a summary of the significance of CPEC in Pakistan in the future.
The govt has assigned Rs. 198 billion for development budget 2018-19 in different projects under the CPEC incoming financial year 2018 to 2019 such as Rs 25 billion for western route development from Burhan-Hakla Road on Motorway-1 to the main city DI Khan.
According to Public Sector Development Program for 2018-2019, new different projects with the cost of Rs 835 billion will be added in the CPEC and it is supporting different projects. Thirty-one different projects for development and development of Gwadar are a portion of the PSDP for 2018-2019 with approximately cost of Rs. 137 billion.
For modernizing Mailine-1phase-1 of Pakistan Railways and association of dry port at Havelian, the govt has assigned just Rs. 5 billion against the complete approximated cost of Rs. 380.8 billion. The financing has been assigned mostly for continuous different projects in the PSDP for 2018 to 2019.
The govt has assigned financing for projects outside the CPEC as well which include Rs 45 billion for Multan-Lahore-M3 of Karachi-Lahore Motorway. Out of sum complete of Rs. 110.208 billion for a western route from Burhan to DI Khan, the govt estimated to use Rs. 52.392 billion up to July 30, 2018. Of staying toss ahead at Rs57.815 billion, the govt assigned Rs25 billion in the budget 2018 to 2019, so this project required at least another year and would be finished by 2019-20.
For the development of Karakorum Road (KKH) Phase-II, Havelian-Thakot 118.057 km as the portion of CPEC, the govt has assigned Rs 25 billion in budget 2018-19. Out of Rs 136.659 billion cost of this project, the expenses estimated to be suffered on it was Rs63.881 billion. Against complete toss ahead of Rs 72.778 billion for the completion of the project, the govt assigned Rs 25 billion.
For the development of KKH between Thakot to Raikot area, for example, Tatapani Bypass under CPEC, the govt managed to get a portion of new projects of the NHA and assigned Rs 1 billion against the approximated cost of Rs 8.150 billion.
For five GD water desalination plant in Gwadar, the govt has assigned Rs 150 million in the budget against the approximated cost of Rs 3.042 billion. For upgradation of the 50-bed hospital to 300-bed in Gwadar, the govt assigned Rs 100 million against complete financing need of Rs 9.9 billion.
An allowance of Rs 6.035 billion has been made for development of Eastbay Expressway under CPEC, Rs 194 million has been assigned for practicality study on development of breakwater, Rs 625.583 million for new Pak-China vocational Institution and Rs 100 million for chapel searching in Gwadar of berthing area for extra terminal against approximated total cost of Rs 2.8 billion .