‘Investment Formula’ to Push Pak-China Corridor

An investment formula has been finalised by the Pakistani and Chinese governments that would allow it to move forward with the Pak-China Economic Corridor (PCEC) within the next five years.

The move was made in order to create a direct link between both countries, and thereby cut almost 10,000km of stopping distance in regions such as Singapore, the Middle East and Hong Kong.

Beijing would be investing between US$30-40 billion in Pakistan to develop the PCEC, which is said to enable China to significantly reduce the cost of its containerised trade with Europe, according to Pakistan Today.

All Pakistan Shipping Association (APSA) Chairman Aasim Siddiqui said the proposed corridor would cut the 19,000-mile Sino-Europe shipping route by thousands of miles.

Aasim Siddiqui said: “Sino-Europe bilateral trade involves around 225 million TEU. If only 10% of this huge containerised trade goes through Pakistan we would see our transport industry grow by three fold.”

The APSA chief concluded by saying that the 10% would add at least seven million TEU to Pakistan’s containerised trade.

Investment Formula to Accelerate Pak-China Corridor. (Source: Zameen)