CPEC – The herald of a thriving future of Pakistan in the 21st century.
CPEC benefits to Pakistan are really very hard to count. There are tons of advantages that the mega project is to bring to Pakistan as well as the entire region.
The geographic location of Pakistan holds a high potential to define its impact and influence on the world of politics and power. Pakistan is located at a key geo-strategic site having great significance. It is bordered by the emerging economic giants of the world that includes China, India and other countries rich in natural resources like Afghanistan and Iran. Therefore, the geo-strategic importance of Pakistan is quite evident. The most dazzling China Pakistan Economic Corridor, CPEC has carved itself as the largest project in the human history that is believed to bring a massive impact on the whole world. The importance of CPEC for Pakistan cannot be overemphasized. The mega project is packed with benefits for Pakistan and is sure to prove as a game changer for the country.
Gwadar Port Importance
The Gwadar Port Importance which acts a tail of the New Silk Road would link China’s Kashgar region to the different communication networks of the region. It also holds an essentially high position in the CPEC project because it has been placed close to the Strait of Hormuz, through which around 40% of the world’s oil supply is streamed.
Gwadar port of Balochistan province as a key shipping point could play an important role in protecting Chinese strategic, geopolitical and security interests by providing a much shorter route than the current 12,900 Km route from the Persian Gulf through the Strait of Malacca to Chinese Eastern Seaboard. Gwadar port is intended to transform Pakistan into a nucleus of economic, trade and commercial activities among the Gulf which is energy-rich and Central Asian States, Afghanistan and China, by offering Pakistan’s Navy with strategic depth beside its coast as an oceanic (naval) base.
CPEC Beneficial for the Entire Region
CPEC has emerged as a key tool for development not only in Pakistan and China but also in the other parts of the world. It has proved itself to be the main source of regional cooperation and mutual development for enjoying the shared economic development and long-term prosperity. Along with CPEC benefits to Pakistan, it will also helpful for the entire region.
China holds a special importance for translating and enhancing the common goal of constructive engagements. Through CPEC, the mutual bond between Pak China relations has been on the rise. The core focus of CPEC is on strengthening the economic ties between China and Pakistan. CPEC is like a herald of bright future of Pakistan in the 21st century.
Undoubtedly the projects which have been launched under the CPEC have flickered a wave of swift development in the country by offering new opportunities for increased and sustained economic growth which will not only benefit Pakistan but will directly and positively affect the other countries as well. This mega project CPEC has brought tons of benefits for Pakistan. It has not only helped Pakistan to grow economically but has raised the quality of lives of the common people of the country as well. CPEC will continue benefiting the country it in the long run as well.
CPEC opens Endless Windows of Opportunities
China Pakistan Economic Corridor has widely opened the vistas of mutual development in social, geopolitical and economic fronts not only both for both countries but has impacted the entire world directly or indirectly. Through CPEC, China has taken a courageous initiative of taking control of Gwadar Port for the next forty years. It has been planned to develop Gwadar Port as one of the world’s best and state of the art seaport. Gwadar port will hold a huge size of storage of cargo as well as a huge shipment facility. It will have many shipyards as well. This port is anticipated to act as a tail of new Silk Road that will link up China’s Kashgar to multiple communication networks of the region. The construction of Gwadar port will reduce the distance between central China and the Middle East by 80%.
CPEC Benefits to Pakistan in Multiple Ways
This China Pakistan Economic Corridor has created a positive impact and rapid growth in the different sectors and industries of Pakistan. Through CPEC China is determined to provide Pakistan with the best of assistance, financial help, and mutual cooperation to bring the economic prosperity in the country.
CPEC helps the Country in Overcoming Losses
While combating the war on terror, Pakistan has suffered a lot. The country has been facing political, monetary, social and human losses because of its domestic regional conflicts. The intervention of US in Afghanistan has also forced Pakistan to take an active part in a war on terror against Taliban which led to developing extremism in the country that stopped the economic development in the country.
Through CPEC, Pakistan has been offered new opportunities it needed to recover its losses. It has not only helped the country overcome the missed economic opportunities due to being involved in a war on terror but has also facilitated Pakistan to transform it into a future’s economic hub.
CPEC brings Economic Benefits
There are various benefits of CPEC to Pakistan in the economic sector. The magnitude of investment and loans rendered to Pakistan under CPEC shows a sheer commitment of China to facilitate Pakistan in improving its economy and infrastructure which is required for the economic development of Pakistan. This close bonding and assistance from China are helping Pakistan to overcome the scars of decades’ long war on terror in many areas of the country. CPEC has also taken remarkable initiatives to overcome the power issues of the country by developing many power projects in the country, CPEC benefits to Pakistan will increase rapidly. The Economist heights in January 2017 that Pakistan is the world’s fastest-growing Muslim economy which is ahead of Malaysia, Indonesia, Egypt and Turkey.
CPEC Enhanced Global Image of Pakistan
The global image of Pakistan has been enhanced because of CPEC. Pakistan was considered as “the world’s most dangerous country” has now changed to “becoming a next success story”. CPEC aims to enhance Islamabad’s significance in a quickly transforming world order. Pakistan views CPEC and investment made on this project as a great opportunity to balance its complex relationship with US and India.
CPEC offers safe Trade and Investment Opportunities
CPEC intends to offer financially viable and safe investments and deeply connected assimilations with the global markets. Due to the high potential of CPEC, it has not only attracted the local investment but has grabbed a huge foreign investment too. This will raise the economy of Pakistan and will help the country to progress. Gwadar port project will bring a network of roads and highways that will provide the much-needed infrastructure for the economic development of the country.
CPEC aims to strengthen PAK china relations with regard to trade in particular. The deep and sincere cooperation between the two ‘iron brothers’ for CPEC needs no words to prove its truth. CPEC benefits to Pakistan in trading and investment opportunities. Gwadar port is expected to expand into a full-fledged state of the art deep-water commercial hub. The CPEC will open new avenues of mutual cooperation that will help to stabilize the economic development in the future. Through CPEC the trade of Pakistan is expected to multiply. Pakistan could become the major global channel for petrochemical trade which will lead to its economic progression.
CPEC will boost the Power Sector
The energy crisis has been a major hurdle for Pakistan on its way to development. The main focus of CPEC is to improve the power sector of Pakistan. Under CPEC almost 60% of the investment has been allocated for the development of energy infrastructure in order to enhance the power transmission networks and capacity distribution. China has taken a progressive initiative to build independent power producers which are funded by Exim Bank of China at a minimum interest rate. In the future, Pakistan will purchase the power from these power projects on the pre-negotiated rates. Power projects under CPEC are expected to add 17,045 MegaWatt of energy by the end of the year 2020. Obviously, these power projects will help Pakistan to overcome power crisis and will make it self-sufficient in the energy sector.
CPEC will improve the Ways of Communication
The mega CPEC project will also install the new infrastructure of roads, highways and railway networks in the country. CPEC benefits to Pakistan that it will help to enhance the quality of lives of the people of Pakistan. This network of huge infrastructure will help Pakistan to transform into a developed country and will also attract the global markets for their high-valued investments. After the completion of CPEC, Pakistan will emerge as an economic powerhouse and will be an inspiration for its neighboring states. CPEC will let them use this corridor route to diversify their economic endeavors all across the Africa and Europe through Middle Eastern states.
CPEC has created around 70,000 Job Opportunities
The multi-billion dollars China-Pakistan Economic Corridor project has provided jobs to almost 70,000 Pakistanis so far during the last five years. It will keep generating more employment opportunities in future too. The CPEC aims to give Pakistan more than 20 special economic zones. These SEZ’s will aim to improve the following sectors of Pakistan by installing the infrastructure in diversified business industries of the country. These industries include; Food Processing, Food Packaging, Textile Stitching/Knitting, Fruit Processing, Agriculture machinery, Pharmaceutical, Motor Bikes Assembly, Chromite’s, Cooking Oil, Ceramic industries, Ice and Cold storage, Electric Appliance, Halal Food Industry, Textile, Steel, Engineering, Chemicals, Plastics, Agriculture Implements and much more.
These SEZ’s are aimed to bring about prosperity through economic development and therefore it will create millions of job opportunities for the people of Pakistan. The special economic zones being developed under the CPEC project would increase local exports as well.
CPEC Projects List
• Sahiwal 2×660 MW Coal Power Plant:
• Sahiwal Coal Power Plant
• Port Qasim Power Plant
• 2x660MW Coal-fired Power Plant, Hub
• Thar block II coal mine & power plant
• Bahawalpur solar power
• Dawood 50MW Wind Farm Project
• Hydro china Dawood wind farm
• Sachal 50MW Wind Farm Project
• Three Gorges Second Phase Wind Power Project
• 99MW Jhimpir UEP
• Karot Hydropower Project
Transport Infrastructure Projects
• MATIARI-LAHORE ±660kV HVDC Transmission project
• Peshawar-Karachi Motorway (Sukkur-Multan Section)
• Gwadar Port Project
• China Pakistan government middle school at Gwadar
• Gwadar East Bay Expressway
Industrial Cooperation Projects
• Pakistan-China Optical Fiber Cable Project
Road projects connecting the country to Gwadar Port
• Water desalination plant
• Medical industry
• Development of Massive Chinese restaurants
• Market complex to connect North Waziristan Agency to CPEC
The Final Word
The CPEC has a core objective to put Pakistan on a new path of rapid growth through infrastructure development and later to transfer part of its labor-intensive industries to the other countries. However, the success of this project is highly dependent upon Pakistan’s internal security situation and the way how it manages its relations with India and USA. It is inevitable that the Pakistani political leadership should resolve their internal differences over the CPEC route disagreement and distribution of benefits under the CPEC in order to maximize Pakistan’s output from this mega CPEC project. Therefore, it is vital for Pakistan to deal positively with all the challenges in the way of construction and functioning of CPEC in order to transform this golden opportunity into an economic certainty.
CPEC stands to protect the common interests which exemplify a model of mutual cooperation, coordination, and strategic communication between China and Pakistan to strengthen their friendship and connectivity in the areas of trade and economy with the other states of the region. Pakistan’s leadership calls CPEC as a game changer for Pakistan and for the whole region at large. Along with CPEC, Pakistan will turn into a commercial hub in South and Central Asia, a key partner of the regional trade.
CPEC benefits for Pakistan are endless. Due to its geographic location of the country, it is not only important for the peace of South Asia but also for the entire world. The bright future of Pakistan is highly dependent on the stability of Karachi which would become an ideal city for international investment after the restoration of peace.
The remarkable success of CPEC which has been achieved by converting CPEC from a piece of paper into a billion dollars investment projects has a lot to offer for Pakistan on multiple fronts. This multi-billion dollars project has emerged as a leading project which is paving a way for peace for the country. It will take Pakistan on the new path of a long-term and sustainable development, progress, peace, and prosperity. With all circumstances, CPEC benefits to Pakistan are endless.