University of Technology, Nowshera lacking lab amenities

China-Pakistan Economic Corridor is a framework of regional connectivity. CPEC will benefit China and Pakistan under Economic Corridor. The CPEC precedence projects in energy sector would help Pakistan optimizing the energy formation by reducing reliance on expensive sources of energy such as Gas and Residual Fuel Oil (RFO).

University of Technology, Nowshera lacking lab amenities

All CPEC energy projects are funded by profit-making loans which are on loan and repaid by the Chinese companies. There is no foreign balance due on Pakistan government.

The contribution of wind and solar energy in the country’s total production would increase from 5 percent in 2013 to 10 percent in 2022. Pakistan’s energy production in 2013 was heavily dependent on Gas and RFO.

Total electricity production around 57 percent was based on Gas and RFO which would be significantly reduced to 25 percent in 2022 after completion of all priority energy projects under CPEC.

By optimizing the energy structure, Pakistan’s energy supply will be more stable and safe and the significant reduction of Gas, RFO imports would help the country saving foreign exchange reserves.

The energy production through domestic coal is also predictable to increase from 0.14 percent of total energy production in 2013 to 9.08 percent in 2022.The nuclear energy production would also increased from 4 percent in 2013 to 7 percent in 2022.

Whereas in 2022, 12 percent of total demand of country’s energy would be met through use of imported coal while energy production through bagasse would also increase from 1 percent in 2013 to 2 percent in 2022.Hydel production is projected to decrease from 33 percent in 2013 to 25 percent in 2022.

The seven projects of energy under CPEC have been installed with capacity of 3240 MW in only three years. These projects accounted for 11 percent of total electricity generation in Pakistan.

China Pakistan Economic Corridor is voyage towards economic regionalization in the globalized world. CPEC is hope of enhanced region of the prospect with development and growth of economy.