Khyber Pass Economic Corridor (KPEC)
Another corridor to development
Pakistan and Afghanistan continue to maintain upward trajectory of trade during last two years and has crossed US$ 2 billion mark in year 2017-18. Pakistan remains the largest export market for Afghanistan. On the other hand, Afghanistan continues to increase its imports from Pakistan, as Afghan imports increased from Pakistan by 18.33% for the period that was US$ 1,271 million in year 2016-17 to US$ 1.576 billion in year 2017-18. Improvements in security, infrastructure investments, and renewed regional economic cooperation provide hope for the revival of cross-border trade and bolstering of economic growth. So, in order to further boost Pak-Afghan trade ties, Pakistan decided to construct a four-lane expressway, titled Khyber Pass Economic Corridor, from Peshawar to the border post of Torkham. In 2018, the World Bank approved a loan of $460.6 million for this project. The $460.6-million KPEC Project will benefit consumers, producers and traders in Pakistan and across the border in Afghanistan and the Central Asian Republics through reduction in transport time and cost and private-sector investment.
As Pakistan is waiting to reap the benefits of $60 billion plus China-Pakistan Economic Corridor (CPEC), a silver lining has emerged for Khyber Pakhtunkhwa in the shape of World Bank-funded Khyber Pass Economic Corridor (KPEC).
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