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OpEdNews Op Eds    H2'ed 4/4/17

CPEC and the Economics Magnitude

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Author 89107
Message Muhammad Irfan

The human is born with a meticulous temptation towards beauty, riches, importance, strength and socioeconomic well-being. Sometimes, it appears as rein-less in its struggle for the said above significant features of the human life. However, this tendency shows that the well-being and self-esteem are the foremost dynamics which shape the entire macro and micro, individual and collective struggle of any human, irrespective of creed, color and ethnicity.

Therefore, it remains in a constant search for inventing the avenues that play a considerable role in amassing the above said dynamics of socioeconomic life. The China--Pakistan Economic Corridor (CPEC) in its theory and practice is the demonstration of the said human meticulously temptation.

Importantly, CPEC, a 3,218 kilometer long route, is being built and will last over next several years, consisting of highways, railways and pipelines. The estimated cost of the project is expected to be US$75 billion, out of which US$45 billion plus will ensure that the corridor becomes operational by 2020. It will pass through the beautiful Gilgit Baltistan province in the north which will connect Kashgar in China's western province Xinjiang to the rest of the world through Chinese-operated Gwadar port in the country's south.

It is full of magnitude for both China and Pakistan. Nonetheless, its geo-economic worth in Pakistani perspective is worth-mentioning. Many rationales and analysts define it to be game changer for Pakistan. Others dub it as the win-win project for both China and Pakistan. The conspirators also defame it to be the ex-East India Company. However, given the economic podium of the past conflicts-torn Pakistan, it will really boost the Pakistani economy at all levels.

That is why it is essential to maintain that CPEC has the substantial magnitude for Pakistan due to three main features; first, the CPEC project has been divided into phases, the first phase being the completion of Gwadar International Airport and major developments of Gwadar Port. This phase is expected to be completed by the year 2017. It will give a momentum to the Pakistani both prestige and foreign investment due to the immense shipment of the international maritime trade.

Second, the project also includes the expansion of Karakoram Highway (i.e. the road that connects China with Pakistan and placement of fiber-optic line ensuring better communication between the two countries. This will enhance the economic structure of the GB province where the adversaries of Pakistan have been igniting a chaos like situation on the sectarian bases. Ultimately, this area will be equal to the established areas of Pakistan in the socio-economic development.

Third, the CPEC project will create some 700,000 direct jobs during the period 2015--2030. Certainly, this is the foremost service the CPEC project will render to the thousands of thousands Pakistani unemployed youths. Consequently, the frustration will end up on one hand and the micro level economic situation will enhance to the further extent. Accordingly, it is very important project for the revival of the Pakistani economy whose fruition will be obvious in the upcoming decades. Therefore, its completion must be continued and be accomplished even before the designed period.


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Muhammad Irfan has authored many books. He is an internationally recognized scholar. He has presented his papers in national and international conferences. He is also a freelance journalist and contributes to both national and international (more...)

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