The inclusion of Karachi Coastal Comprehensive Development Zone (KCCDZ) project in the China-Pakistan Economic Corridor (CPEC) will boost Pakistan’s economy and enhance industrial and development cooperation between Pakistan and China, covering a total area of about 930 hectares, of which 640 hectares are reclaimed, the environment-friendly KCCDZ envisages four new berths for the Karachi Port Trust (KPT).
Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) President Moazzam Ghurki expressed these views in a think-tank session held here at PCJCCI Secretariat on Tuesday.
Ghurki said that mega project, being built with an expected investment of USD 3.5 billion, would also house a state-of-the-art fishing port, with a world-class fisheries export processing zone to boost the country’s trade potential. The project, he added, would also build up the confidence of global investors towards the country and its entire ecosystem for providing and offering a lucrative environment to set up businesses and gain profits.
Furthermore, it has the potential to boost industrial cooperation between Pakistan and China due to its proximity with Karachi, the financial hub of Pakistan.
PCJCCI Senior Vice President Fang Yulong termed the project a game-changer for Pakistan; the coastal development project would bring Karachi at par with developed port cities of the world.
The project would present opportunities for investors and also help clean up marine habitats for fishermen and develop 20,000 low-income housing units.
He asserted that KCCDZ is the first of its kind under the CPEC, which reflects the commitment of Pakistan and China to forge high-quality cooperation to improve people’s livelihoods.—APP
