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Gilgit-Baltistan Chief Minister Hafizur Rehman has said that all China-Pakistan Economic Corridor projects will be completed by 2029 and the entire country would benefit from it.
"Today, Russia is getting closer to Pakistan as the government is steering us out of isolation internationally with its correct economic policies," The Express Tribune quoted Rehman, as saying at the Karachi Press Club on Saturday.
He said that the country has wasted numerous opportunities earlier but CPEC would certainly boost the economy.
Stating that the work on the Rs35 billion fiber-optic cable laying project under CPEC has been completed in Gilgit-Baltistan, Rehman said an alternate communication system to the region will be provided by it.
He claimed that work on the Karakoram Highway had been completed whereas the construction on other sections is under way.
The Chief Minister said Land acquisition has also been completed with Rs10 billion less than the original amount for construction of the Diamer-Bhasha Dam.
Asserting that areas bordering China have a potential to generate 60,000 mega-watts electricity, he said that a joint power company will be established under Chinese power investment programme to tap these opportunities.
"This will add 60,000MW to the national grid, which will cost Rs2 per megawatt or less," Rehman said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)