Islamabad: Pakistan and China have agreed to readjust the list of power projects that fall under the purview of the China-Pakistan-Economic-Corridor (CPEC), according to news sources. As per the publication, this decision was taken as a result of a joint study that was conducted on the power sector, which found that the supply-demand chain in this segment is expected to remain stable for the next 11 years (2019-2030).
Reportedly, an expert panel comprising of Pakistani and Chinese experts conducted this study in order to make evidence-based decisions for the development of future CPEC projects. The study presented its final report on November 3.
The study found that due to concentrated efforts to initiate sizable power generation projects, there is expected to be a minor surplus in energy production for specific years after 2025. This will then even-out over the next few years, allowing the country to enjoy a balanced provision of power in the remaining time.
It was decided that the list of projects could be reviewed and realigned, in light of the recommendations provided by the expert panel and based on the Supplementary Protocol to Agreement on the CPEC energy projects cooperation between the two countries. They also agreed that all future CPEC projects should go through careful scrutiny and comply with the policy and regulatory frameworks of Pakistan.
It is important to note that CPEC energy cooperation has helped in the socioeconomic development of Pakistan. As per the stats from CPEC for the tax year 2018-19, the local government has received over USD 250 million in taxes, while over 10,000 jobs have been created in the same period.
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