[Business Recorder 22 November 2019] KARACHI: China-Pakistan Economic Corridor (CPEC)’s energy projects have contributed $250 million in taxes and provided 10,000 jobs by adding 14.5 percent of the total electricity output in NTDC system so far.
According to the official documents, CPEC energy cooperation has increased power supply in Pakistan. Power generation of CPEC projects reached 17.728 billion kWh, 14.5 percent of the total output in the NTDC system, which could supply over 33 million people on per capital power use basis.
CPEC energy cooperation has also promoted economic and social development of Pakistan. According to statistics, CPEC projects as of the fiscal year of 2018-2019 have paid about 250 million USD in taxes during the construction period and provided over 10,000 jobs. Reliable power supply is a significant facilitator to local economy and social development, documents indicated.
Documents showed that as of September 2019, 12 power generation projects have either started construction or been in commercial operation already, with a total installed capacity of 7240 MW and a total investment of about $12.4 billion
Among them, there are nine Commercial operation (COD) projects (some are constructed by phases), with a total installed capacity of 5320 MW and a total investment of about $8.175 billion and three projects, expected to be completed and put into operation between 2020/21 to 2022/23 fiscal year, are under construction (some are constructed by phases), with a total installed capacity of 1920MW.
In addition, nine projects stand at early stage (some are constructed by phases), with a total installed capacity of 6390MW.
CPEC energy cooperation has enriched the content of a community of shared future between China and Pakistan, documents suggested and indicated that during the construction of projects, the Chinese companies have observed related laws and regulations, respected local rules and customs, and properly addressed issues that may cause local concerns such as the relocation of residents and community development.
The Chinese companies are committed to localization of content, including transfer of technology, indigenization, development of local resources and capabilities and have created a significant number of jobs in this process.
As they work to ease energy shortage and boost employment, they have also helped enhance infrastructure, improve people’s wellbeing, facilitate community development, provide skills training, assist with disaster relief, and participate in cultural exchanges.
These efforts have brought real benefits to local communities and facilitated the realization of common prosperity, documents showed.
China and Pakistan have emphasized the importance of cooperation from project planning to project execution and adhered to the principle of building “a government-led and market-oriented system with businesses as the main player in seek of win-win outcome, documents added.