Islamabad Chamber of Small Traders (ICST): CPEC to trigger growth in the third world

On Monday Islamabad Chamber of Small Traders (ICST) stated the CPEC is a vital step towards new global economic order which will trigger growth in the third world. The growth potential which CPEC will uncover in the third world countries is contrary to the desires of the western world, which makes the project a threat, it noted.

ICST patron Shahid Rasheed Butt said that the western economic model has not been able to offer relief to the masses. It has rather shifted the resources of the under developed countries to the western countries. the Chinese economic model, on the other hand, will make sure the development of the third world. The CPEC will strengthen the Pakistani economy by boosting GDP, increasing exports and offering job opportunities.

A network of 3,218 km of roads, railways and dry ports from Gwadar Port to Kashgar will imprve the life quality of 3 billion people here. It will help China via Pakistan to carry out trade with other half of the world, he added.

This mega project has two parts including energy and transportation, he said.  An energy master plan of power generation projects will help Pakistan get over the issue of energy crises.

This project will open new business outlets for Chinese, Pakistani, and Irani businessmen. It will offer  a platform for cooperation in the agricultural sector as well and boost Pakistan’s tourism industry, he asserted.