China Pakistan Economic Corridor is a mega and game changer project for the whole region. It is equally important for both Pakistan and China.
IMPORTANCE OF CPEC FOR PAKISTAN
After the completion of China-Pakistan Economic Corridor (CPEC), Pakistan will become a regional economic hub in the region. Geo-political importance of Pakistan will increase. There will be Highways, Motorways and link roads throughout the country. Fast and modern rail network, oil and gas pipe lines, fast and modern telecommunication network, energy infrastructure, and intelligence sharing with China will be possible. There would be fast and growing economic and cultural ties with the countries of the region especially with China. China-Pakistan Economic Corridor (CPEC) will be connected at Zero point Khokra Par and Wagha border with India at eastern China-Pakistan Economic Corridor (CPEC) which will result economic and cultural ties with India.
On the western route China-Pak Economic Corridor (CPEC) will be connected with Chaman border with Afghanistan and with Iran at Tuftan border to enhance social, economic cultural relation with two brother countries.
A lot of jobs and employment opportunities will arise with the construction of China-Pak Economic Corridor (CPEC) for Pakistan. When all the energy projects of China-Pak Economic Corridor (CPEC) will be completed, the pace of economic growth in Pakistan will increase. A 2% annually increase in GDP of Pakistan is expected. Some important gains for Pakistan are:
(a) CPEC will provide opportunities in overcoming poverty, unemployment and inequalities among smaller and larger provinces of Pakistan.
(b) By completion of energy projects, Pakistan will get rid of its energy crises.
(c) On either side of CPEC, construction of hotels, workshop and petroleum will provide a job to a lot of people which help Pakistan to overcome employment issue in the country.
(d) It is expected that GDP of Pakistan will be increased by 15% by Chinese investment.
(e) CPEC will bring prosperity and progress in Pakistan and it will help Pakistan to get rid of the decade’s label of terrorist state, dangerous country and a falling state.
(f) Once Pak – China connectivity through CPEC starts, Pakistan’s geo-strategic interest will be guarded by China, whenever threatened.
(g) USA has always betrayed Pakistan and is widely disliked by the people of Pakistan, will have to negotiate with Pakistan in spite threaten.
(h) Toll plaza fee
(i) CPEC will reduce regional economic difference between provinces, as CPEC route passes all the deprived and backward villages and cities.
(j) Through CPEC not only the transportation of people and passengers will become cheap and ease but also the deployment of forces will also become fast and ease in any time of risk situation in country.
(k) CPEC will be the symbol of unity and national integrity in the country.
Revival of Pakistan economy through CPEC will build the confidence of foreign investors to invest in Pakistan.
IMPORTANCE OF CPEC FOR CHINA:
China is the most populous country of the world, Economic super power of the 21st century, has very close bilateral relation and economic ties with Pakistan since it got independence in 1949.
Officially bilateral trade and commercial links between two countries established in January 1963. China has supported Pakistan in every field like defense, trade, economic, agriculture and industry. Many mega projects have been completed with the assistance of China’s Government.
China has developed his economy and has made a remarkable progress in industry, and it has increased its output and production. It has now decided to expand its economic activities across its boundary to increase its exports to the countries of the rest of the world, especially with the countries of Middle East, Central east, Europe and Africa as well as its neighboring South Asian countries. But this trade is only possible via long sea route. On the other side China needs to fulfill its energy requirements from Middle Eastern countries. China has decided to construct four corridors to connect China to the rest of the world through roads and railways.
China-Pak Economic Corridor (CPEC) will give direct access to China to Arabian Sea from Gwadar port China will be able to reach Middle East to take advantages of rich minerals. China will get direct access to Strait of Malacca through Arabian Sea. China will be connected with Iran through Quetta-Zahidan railway link.
Due to China-Pak Economic Corridor (CPEC) 12000 km distance will be cut off for China. China will enhance its volume of trade with these countries through Arabian Sea. Gas and oil pipe line is also a part of China-Pak Economic Corridor (CPEC). Gas and oil supply to China will become more cheap and fast from Middle East countries to China. China will make commercial and economic link stronger and durable with south Asian countries. If Kashghar is connected to sea route after passing interior regions of China, it has to cover a lengthy distance of 9000 km. But if Kashghar is connected to Gwadar port of Pakistan via CPEC, it has to cover only a distance of 2442 km to reach Arabian Sea.