Beijing has reportedly increased its stake in the China-Pakistan Economic Corridor (CPEC) by as much as $5.5 billion taking its total stake in the corridor to around $51.5 billion.
Pakistani media reported on Friday that Pakistan’s Minister for Planning, Development and Reforms Ahsan Iqbal shared the news upon his return from China.
Besides China’s own investment, the Asian Development Bank too has assured Pakistan of another $2.5 billion for the construction of the Lahore-Peshawar railway track.
The China-Pakistan Economic Corridor (CPEC) is immensely important for Beijing’s long-term global domination plans and Pakistan’s survival. In fact, China has already hinted that it will militarily defend the CPEC if the project is threatened following India’s stance after the Uri terror attack.
The construction of the railway lines from Karachi to Lahore and from Lahore to Peshawar will facilitate the movement quick of goods between the port city and the Khyber Pakhtunkhwa province, from where a network of roads lead to Kashgar in Xinjiang province of China. That would be the first phase of the project.
The second phase, the minister said, will connect the Gwadar port in Balochistan to the corridor via a network of roads and railway lines.
Pakistan blames India for trying to destabilize the CPEC. The truth is that India has never targeted the CPEC in any way.