ISLAMABAD: Economic experts claimed that Pakistan’s various sectors areready to receive maximum benefits from China-Pakistan Economic Corridor (CPEC)linkproject.
According to political economists, many sectors will benefit from theproject. In addition to the economic corridor, CPEC in Pakistan willinclude energy projects, infrastructure development, industrialization, andthe expansion and improvement of Gwadar Port. The project has greatpotentials for Pakistan in both economic and regional domains.
They said that the goal of CPEC is both to transform Pakistan’s economy—bymodernizing its road, rail, air, and energy transportation systems—and toconnect the deep-sea Pakistani ports of Gwadar and Karachi to China’sXinjiang province and beyond by overland routes.
Expert Nasreen Khalid said that the features of CPEC included integratedTransport & IT systems including Road, Rail, Port, Air, and DataCommunication Channels, Energy Cooperation, Spatial Layout, FunctionalZones, Industries, and Industrial Parks and Agricultural Development.
She said that various studies highlighted the importance of CPEC forPakistan and its role in the development quest of Pakistan. CPEC presentsmultidimensional benefits for Pakistan. It has been predicted that therewould be an increase of 6.43 percent in national GDP due to transportinfrastructure.
She said that better transport infrastructure would also help Pakistanincrease trade. It has forecast that Pakistan’s trade can increase by 9.8percent if Pakistan implements reforms and transport infrastructure underCPEC. It would be a huge contribution, keeping in mind the existingsituation of trade.
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Another expert Usman Naeem said that the Gwadar Port has already beenoperationalized and has started to deliver benefits to the people ofBalochistan. The port has introduced multidimensional benefits for theprovince and will turn Gwadar city into a hub for regional connectivity.
He added transit trade through Gwadar will bring new opportunities forlivelihoods for local people and the province. It will also help enhancetrade with Afghanistan, especially from the Balochistan border.
He said that Chinese companies are also contributing to local development.For example, COPHC, the executing agency for the Gwadar Port, has createdmore than 4000 jobs during the last five years in Balochistan. COPHC isalso contributing to the education sector. It has built a school in one ofthe most backward areas of the country, he added.
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