CPEC And ITS ADVANTAGES FOR PAKISTAN

The economic stability of China and Pakistan is not acceptable to its regional competitors, in response to which China and Pakistan had formed partnership to complete China-Pakistan Economic Corridor (CPEC) under “One-Road, One-Belt” vision. The project has great importance for both the countries as CPEC has potential to transform the socio-economic landscape of Pakistan which includes infrastructure, more employment opportunities and GDP growth of Pakistan.

Till now, there are 7 CPEC infrastructure projects in Pakistan which includes development of roads and railways in the country to increase the ease of traveling and transportation on domestic level. The development of highways and construction of new routes will allow access to remote areas having natural reserves and to slowly decrease the density of population and industries which are currently concentrated in few major areas cities of Pakistan.

It is predicted that, CPEC is capable of significantly boosting the economy of Pakistan as it provides investment opportunities which will attract foreign investors as well and can increase the GDP of Pakistan by 2.5%. The increase in GDP will reduce poverty, provide government finances, increase education and military budget which gradually will strengthen Pakistan.

The CPEC will overall provide massive employment opportunities to the skilled educated individuals as well as the hardworking labors of Pakistan. 30 thousand direct job opportunities have already been created in power and infrastructure sectors for Pakistan, 3000 locals were also hired by Sahiwal coal fired power plant and in the upcoming two decades there will be 800,000 job opportunities for the Pakistanis.