The draft LTP says the core and radiation zones present the spatial layout of the \u2018one belt, three axes and several passages\u2019
\nPESHAWAR
\nThe China-Pakistan Economic Corridor project is likely to take initial shape by 2020 and start boosting economic growth in both countries, suggests the multibillion dollars initiative\u2019s draft long-term plan.
\nThe federal government had recently shared the draft LTP with the provinces for feedback. The LTP will remain operative until 2030 after its approval by both Pakistan and China.
\nThe draft LTP, a copy of which is available with media, says the CPEC covers China\u2019s Xinjiang Uyghur Autonomous Region and whole territory of Pakistan and its coverage is divided into core and radiation zones.
\nIt says the core and radiation zones present the spatial layout of the \u2018one belt, three axes and several passages\u2019.
\n\u201cBy one belt, we mean the belt area composed of core zone of CPEC including Kashgar, Tumshuq city, Atushi city and Atko county in Kizilsu Kirghiz autonomous prefecture of Xinjiang as well Islamabad, parts of Punjab, Sindh, Khyber Pakhtunkhwa, Balochistan, Azad Jammu and Kashmir, and Gilgit-Baltistan,\u201d it reads.
\nOn the other hand, three axes refer to three horizontal axes connecting Lahore and Peshawar, Sukkur and Quetta, and Karachi and Gwadar.
\nThe CPEC is also divided into five functional zones from north to south.
\nThe document mentions the geopolitical and security risks, restraints of natural and geographical factors and restraints to economic growth prospects as the possible challenges to this venture.
\n\u201cChina is responsible for planning, financing, building and operating projects within its territory and for those in Pakistan, both the countries shall jointly prepare plans, divide financing responsibilities based on project situation and their respective investment and financing strength,\u201d it says.
\nThe key cooperation areas identified in the document include transport, information network infrastructure, energy, industries and industrial parks, agriculture development and poverty alleviation, tourism and financial cooperation.
\nThe plans for construction of integrated transport system include construction of Kashgar-Islamabad, Peshawar-Islamabad-Karachi, Sukkur-Gwadar Port and Dera Ismail Khan-Quetta-Sohrab Road infrastructure, capacity enhancement of existing railway lines and construction of new projects and construction and development of Gwadar port and port city.
\nIn the information network sector, it envisages the construction of cross-border optical fiber cables between China and Pakistan and construction of backbone optical fiber cable networks in Pakistan, upgrading of Pakistan\u2019s network facilities, including national data centre and second submarine cable landing station and to expedite Pakistan to adopt China\u2019s Digital Terrestrial Multimedia Broadcasting standard.
\nBoth countries also shall encourage Chinese enterprises, private sector, and private sector funds of the other economic entities to make various forms of direct investment, welcome Pakistan private capital in the participating in the CPEC projects.
\nIt also says both countries welcome the World Bank, Asian Development Bank, Asian Infrastructure Bank and other international financial institutions to provide long-term concession loans to the support the investment and financing the projects along the CPEC.<\/p>\n","protected":false},"excerpt":{"rendered":"
The draft LTP says the core and radiation zones present the spatial layout of the \u2018one belt, three axes and several passages\u2019 PESHAWAR The China-Pakistan Economic Corridor project is likely to take initial shape by 2020 and start boosting economic growth in both countries, suggests the multibillion dollars initiative\u2019s draft long-term plan. The federal government […]<\/p>\n","protected":false},"author":1,"featured_media":1747,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,7],"tags":[],"class_list":{"0":"post-17573","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-lead-cpec","8":"category-peshawar"},"yoast_head":"\n