CPEC investment to cross $100 billion with one million new jobs in Pakistan

CPEC investment to cross $100 billion with one million new jobs in Pakistan

KARACHI - Addressing the China-Pakistan Skilled and Technical Education conference, Sindh Chief Minister Syed Murad Ali Shah said that Thar’s Block-II alone has the capacity of producing 5,000MW, while there are several such blocks in the area.

"As the project enters the next phase, a large number of skilled workforce would be required and collaborations between the educational institutions of the two countries would go a long way in equipping Pakistan’s youth with advance skills.”

Pakistan did not have the capacity to meet the demand for industrial workforce arising with the unfolding of projects under China-Pakistan Economic Corridor (CPEC), he said, adding: “We should take benefit of each others’ experience, research and skills, as this would benefit the people of China and Pakistan.”

Talking about the upcoming provincial budget, Shah said that the provincial government would not announce any new projects or schemes and funds would be allocated only for the ongoing projects.

China-Pakistan Business and Investment Promotion Council under One-belt One-Road (OBOR) initiative organised the skilled and technical education conference in Karachi in collaboration with the Sindh Board of Technical Education (SBTE), wherein a number of Chinese higher education institutions are seeking collaboration and joint ventures with Pakistan’s educational institutes and vocational training centres.

China-Pakistan Business and Investment Promotion Council Chairman Jack Tang said that the two countries signed a $46 billion project, ie, <link> <link> <link> CPEC <link> , but the quantum of Chinese investment would cross $100 billion, as several new agreements are being signed between the two countries.

“Pakistan is undergoing rapid development day-by-day and with more projects coming up, it would need to equip its youth with the latest technology and skills, as no nation can prosper without skilled human resource, Tang said.

Over 20 higher education institutes from China have come to Pakistan, seeking collaboration with the local institutes and universities, he said.

“These collaborations would play a leading and facilitating role in development the country’s human resource.”

Addressing through a video-link, Board of Investment Secretary Sumera Nazir Siddiqui said that to fully reap the benefits of <link> <link> <link> CPEC <link> , it is important for the local population to develop their skills in required fields so that they could support the economy rather than being a burden on the economy.

According to the international Labor Organization, <link> <link> <link> CPEC <link> would bring 400,000 jobs to the country, while the Applied Economic Research Centre has estimated that the mega initiative would provide around 700,000 direct jobs between 2015 and 2030.

The Planning Commission’s data shows even more promising results, with <link> <link> <link> CPEC <link> generating around 800,000 jobs in the next 15 years.