Khyber Pass Economic Corridor
As Pakistan is waiting to benefit from the 60 Billion plus China Pakistan Economic Corridor, a silver jackpot has emerged for Khyber Pakhtunkhwa in the shape of (KPEC) Khyber Pass Economic Corridor which is funded by the World Bank.
The project was approved on 14 June 2018 and is scheduled to be completed by 28 June 2024. The main objective of this project is to expand economic ties with Afghanistan by improving regional connectivity and promoting private sector development.
Pakistan and Afghanistan continue to maintain an upward trajectory of trade during the last few years and have crossed US$ 2 Billion mark during 2019-2020. Pakistan has remained the largest export market for Afghanistan.
In order to further boost up the economic ties, Pakistan decided to construct a four-lane expressway known as Khyber Pass Economic Corridor from Peshawar to Torkham.
Now as the situation in Afghanistan stands changed, Afghanistan is under the control of the Taliban led government.
It is hoped that the same project will be completed on time and economic ties between the two countries will be strong.
This project is very essential for the KP. However KP and newly merged tribal districts can only benefit from this project, if the Government is pursuing this project seriously.
And if the government pursued this seriously, this project will have a far-reaching impact on the economy of the region because it carries huge potential not only of improving economic ties between Pakistan and Afghanistan but also of reviving the historic trade link between Central Asia and South Asia.
The aim of this project is to make a link with other projects to facilitate the development of marble and horticulture industries to maximize the benefits of Expressway. This project is divided into two components.
The first component of KPEC is the development of Expressway which includes the construction of a four-lane highway from Peshawar to Torkham expressway.
This component also includes the laying of fibre optic cables in trenches along PTEX, land acquisition and resettlement afforestation and technical and independent reviews and studies for the preparation of new related projects.
The second component is the development of Khyber Pass Economic Corridor which also has a sub component and it includes the anchor of Peshawar-Torkham Economic Corridor, a new expressway which will provide a safe and easy travelling environment with higher travelling speed.
The KPEC component II investment seeks to facilitate improvement in the productivity of existing enterprises in tribal areas and encourage private investment in the area.
Two targeted sectors in development of Component II are Marble Production and in this sector, NMTD has 446 processing units which counts for 20 percent of Pakistan’s total marble production and another sector is Horticulture.
Both sectors have great potential for export. The proposed project route starts from the end of Peshawar Northern Bypass at the Takhta Baig Bridge and it ends at the Torkham border.
The KPEC route passes through the mountainous areas with limited population settled there. This route will be built as a dual highway facility with a 7.3 meter wide carriage way.
It could be an extension of the Karachi-Lahore, Islamabad-Peshawar, Trans-Pakistan Expressway System as well as part of the Peshawar-Kabul motorway.
It will reduce transit time and cost for regional and international trade goods using Peshawar-Torkham Corridor.
KPEC has great importance because it passes through the ancient Khyber Pass, which is the main route to India for traders from Europe, Central Asia, Arabia and Afghanistan.
This project will fulfil the long-cherished dream of traders of the subcontinent, Afghanistan, Central Asia and the great Middle East.
KPEC will become more important once CPEC routes travelling Pakistan reach Peshawar. Although KPEC is not part of CPEC but as KPEC will become functional, it will give a huge boost to CPEC and China’s BRI aiming to economically integrate the Afro-Eurasin landmass including nearly 60 countries.
KPEC is not only a route or expressway, but it is a project for the economic development in the region.
Peshawar and KPK will get the most benefit from this project. Once Peshawar was the hub of economy in the subcontinent. Now this project will show the true economic potential of this ancient city.
Given the KPEC’s importance and its economic potential it will be a big mistake if we let go of this project and any laziness and red-tape must not be allowed.
Already KPEC got its fund worth of $460 million from World Bank and there is no any hindrance in the swift implementation of the project.
—The writer is an Advocate, based in Karachi.
