In a signing ceremony, witnessed by Minister for Economic Affairs, Muhammad Hammad Azhar, Pakistan and World Bank has signed loan agreement worth over 406 million dollars for Khyber Pass Economic Corridor Project.
The project aims to construct 48km long 4-Lane, dual carriageway high-speed access controlled motorway, from Peshawar to Torkham. The expressway between Peshawar and Kabul through the Khyber Pass represents a section of Corridors 5 and 6 of the Central Asia Regional Economic Cooperation.
Corridor 5, which runs through Pakistan, has the potential to provide the shortest link between the landlocked countries of Afghanistan, Tajikistan, Uzbekistan and the Arabian Sea. Corridor 6 provides access to Europe, Middle East and Russia. The KPEC will finance Peshawar-Torkham expressway portion of Corridor-5.
The Peshawar-Torkham expressway will reduce transit time and costs for regional and international trade transiting the Khyber Pass and extend till Karachi – Lahore – Islamabad – Peshawar Trans-Pakistan Expressway System. It will form as an integral part of the planned Peshawar – Kabul – Dushanbe Motorway.
The improved regional connectivity through this corridor will not only facilitate the commercial traffic and expand economic activities between Pakistan and Afghanistan but also promote private sector development along the corridor. It is expected to generate up to 100,000 new jobs in Khyber Pakhtunkhwa.
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17 November, 2019