CPEC: Residential Project in Karachi Soon

Islamabad: Pakistan and China has planned a residential project at Karachi’s coastal belt. Minister for Maritime Ali Zaidi and Chinese Ambassador Yao Jing discussed this project in Islamabad on Monday. This project will be part of the China Pakistan Economic Corridor (CPEC).

Ali Zaidi said work on a residential project at Karachi’s coastal line is under way. He said encroached land will be recovered and converted into a residential society. This project would also attract foreign direct investment, he said.

“Karachi has been neglected since independence, resource allocation was minimum with available resources plundered rampantly in collusion with property mafia and land grabbers,” he was quoted in an official press release.
He said launching of blue economy project was earlier scheduled for the first quarter of this year but it was delayed due to COVID-19 break out.
Federal Minister for Maritime said port operations continued during the lockdown period. He said that at Port Qasim handled 140 ships in March and 130 ships in April this year. The minister informed the envoy that deep-sea fishing was allowed to resume after complying with health SOPs so that the fishermen were not affected adversely due to the stoppage of fishing.

An Industrial Park Project near Port Qasim is also approved under the umberalla of China Pakistan Economic Corridor. The Porject “Industrial park Pakistan Steel Mills Port Qasim is at stage of feasibility report.

“Port Qasim SEZ ideally located in a place connected to well-developed infrastructure for the movement of goods,” stated in statement posted on the website of CEPC.

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