China Pakistan Economic Corridor (CPEC)

By: Javaria Farooq

It means Pakistan development vision to (2025) and a part of (OBOR) (One Belt One Road) vision of Chinese readership. The purpose is to transform Pakistan into Geo Economic Hub. It is a (46 Billion) dollar project under which Pakistan has assumed the role of emerging regional player for economic integration of the region comprising South Asia, Central Asia, West Asia, China through improved regional connectivity. CPEC is a new phase in Sino-Pakistan relations. It is strategic Economic Partnership. The corridor links Western China with Gwadar port. It is a grand manifestation of deep-rooted ties with China. Much larger than bilateral benefits it is indeed a corridor of peace and prosperity not only for the people of Pakistan and China but also for region and beyond. Pakistan lies at the heart of three engines of growth China, Central Asia and South Asia housing over (3 Billion) people. These projects arranged from short (2020) to medium (2025) and to long term (2030). A number of projects have been completed till now. Gwadar port and neighboring Industrial park and free trade zone are under development to become an important center of logistic, Business energy and modern industry in CPEC. It can become the home port of land locked countries (CARs Central Asian Republics). CARs can use for export of their raw material and other specialties. It has the potential to become Asian Energy Hub for received, storage, processing and trans shipment to South East Asia, for East etc. Each generation projects are underway in Pakistan under the CPEC project. Various Chinese institutions are working in this regard. And energy projects are thermal. Power generation projects combine to produce coal. Alternative energy projects are being implemented and its companies are working day and night. The Karakoram Highway is the Silk Road. Pakistan is the only country consisting of three mountain ranges Himalayas, Karakoram, Hindu Kush. The railway line is being modernized it has many sectors. So that the heavy train can run. The railway line between Peshawar and Karachi is being modernized. There are 74 industrial zones in Pakistan out of which 32 industrial areas are in Punjab 33 industrial zone are in Sindh province and 17 in Khyber Pakhtunkhwa and most of them are in Lahore, Karachi, Multan, Quetta, Peshawar and Faisalabad located in the suburbs. Pakistan cement’s industry enjoy rapid growth. CPEC suggest fully using the marble resources available in the Western region to explained expose to China, Europe, and Middle East. Under CPEC garment and taxila industry will be greatly developed in Kashmir Economic through importing raw material from Pakistan. A household appliances industry part will be built near Lahore, through joint benchers for refrigerators, ice stands, washing machine Air conditioners T.V sets Microwave oven and small appliances. The industrial development will move from assembling imported parts to producing local. Gwadar is positioned as the direct hinterland connecting Balochistan and Afghanistan. Some Chinese inter have started investment and construction in Gwadar. They can import crude oil from Middle East , coal and iron from South Africa and New Zealand and then supplied to local market as well as South Asia and Middle East. After processing in free trade zone. Industrial zone with the back bone with in the CPEC to enable Pakistan to achieve a high level of industrialization. Train locomotives, large trailers loaded with goods will be transported on Ferries between Gwadar, Karachi and even Iranian and Gulf ports. The Ferry operation will further incentivize this sector for religious and tourism purposes on the coast belt of Pakistan and neighboring states in Persian Gulf and Gulf of Oman. Pakistan is the Seventh Nuclear Power. Fifth largest populated country, with World’s Seventh Largest Military. It has both global and regional outlook and interests. Majority of these corridors and network can be accessed by Pakistan through China and other neighboring countries. Keeping in view the importance of land locked CAR’s Pakistan is acting as a corridor for CAR’s by bringing them warm waters of Arabian Sea. Ports of Gwadar and Karachi are open for global trade opportunities. CPEC is not only a significant linkage, it is lever that shortens China reach to Africa, Western Asia, and Europe by over ten thousand kilometers. Also it promotes great fortunes for Pakistan.