The China-Pakistan Economic Corridor (CPEC) is the most notable project under BRI (Belt and Road Initiative). It has emerged as the most effective and fastest-moving project so far.
According to a latest report, out of 43 projects 20 have been completed or are under construction at the moment.
A senior research fellow with the Chongyang Institute for Financial Studies at the Renmin University of China, Zhou Rong, said:
“Another 157 projects in the corridor will be gradually completed in the next 12 years.”
The rate of growth of Pakistan has increased to 5.97 per cent last year from 3.5 per cent in 2013, ranking top in Asia, driven by the construction of the corridor. He also said that economic growth can rise up to 9.0 percent if all goes well.
Rong also noted that CPEC has created around 60,000 direct jobs in Pakistan while it is likely to create 700,000 more by 2030.