Project will connect Central Asia to South Asia via Afghanistan, says lawmaker
The federal government has approved the establishment of the Khyber Pass Economic Corridor, which will connect Peshawar to the Torkham Border, Religious Affairs Minister Noorul Haq Qadri announced on Thursday.
In a statement, the minister from Khyber district said that the corridor would cost Rs. 65 billion, and predicted it would result in an “economic revolution” for the area.
Covering 48km of road works, the project would comprise a four-lane dual-carriage expressway, as well as an industrial zone to boost youth employment and investment.
Qadri said the project would be completed through joint collaboration between the World Bank and the Government of Pakistan, adding its construction would result in employment opportunities for 100,000 people. He said the project was scheduled for completion in 2024, adding that the Afghan government would undertake construction of a section from the Torkham border to the Kabul Highway.
According to the minister, the corridor would link Central Asia to South Asia through Afghanistan, and would help residents of the border regions prosper, as well as boost Pak-Afghan relations.
Pakistan and the World Bank in December signed an agreement worth $406.6 million to finance the Khyber Pass Economic Corridor project. The project envisages public-private partnership and private financing for developing clusters of economic activity, economic zones and expressways.