Pakisatn has stepped into a new era of progressive development and all praises are credited to the China-Pakistan Economic Corridor (CPEC) which is a massive project with the investment of billionsof dollars in energy sector as well as infrastructural build-up including highways and deep sea port. There is no doubt that it will help to strengthen the economic cooperation and relation between China and Pakistan but other than that it is helping the government to overcome its economic and social issues which had been left unaddressed due to the security challenge faced by the country.
There is no doubt that CPEC has the potential to revive the entire country. It will assist to strengthen bilateral collaboration between China and Pakistan in the field of economy, politics, and security. Further to it, CPEC will help Pakistan to expand its infrastructure in terms of Highways and ports, for instance, Gwadar a natural deep sea port will not only help Pakistan in attaining the economic benefits but also help Pakistan to gain elevated strategic importance with the assistance of China to counter India’s growing influence in the Indian Ocean.
China also has plans to invest in the construction of Oil and Gas pipeline to help Pakistan to fulfil its emergent demand of energy by overcoming the shortfall of gas and electricity as China is of the view that economic development can bring internal stability in terms of politics and security in Pakistan. So the primary focus of this project is to bring economic stability in the country, simultaneously, serving China’s growing strategic interest vis-à-vis of USA and India in the Indian Ocean.
It is also essential to acknowledge the fact that Pakistan, being a strategic country, also serves as a bridge between China, South Asia, Central Asia and the Middle East. This aspect holds a significant importance for China as Pakistan will assist its ally to devour its influence in these region which is why China is also keenly pouring a huge amount of investment in this China-Pakistan Economic Corridor on the bases of achieving security and stability through economic development.
It is only because of the wonders of CPEC which will help Pakistan in shifting its status from lower-middle income to upper middle income nation by 2025.It will also provide Pakistan with a great opportunity to attract an increased amount of foreign investment, thus, reducing socio-economic inequities among the individuals and provinces that will boost Pakistan’s economy, eventually helping to alleviate the threats posed by political and religious extremist and radicals.
The economists have also highlighted the fact that the establishment of new companies in Pakistan will create more and better employment opportunities for the populace while the corridor is also aimed at facilitating the multi-sector economic cooperation in the fields of finance, trade, energy and industry.
CPEC is definitely a moment of rejoice as it will provide Pakistan with prodigious opportunities to overcome poverty, unemployment, and injustice and unequal distribution of resources among the provinces. There is no doubt that CPEC is a game changer for Pakistan as China will become a major stakeholder in the security and stability of Pakistan. It will prove to be a win-win situation for both the countries.
The investments made by China have boosted the GDP of Pakistan by over 15 percent. The progress, prosperity and growing security setup of Pakistan will expand the scope to get rid of the allegations of being afailing state and will prove to be more favourable for Pakistan in terms of reducing budget deficit. The greater population has welcomed their Chinese brothers with whole hearts as the economic and military assistance by China will help Pakistan to improve its defence potential both conventionally and non-conventionally, hence helping Pakistan to achieve a strategic parity and deter India’s growing security threats. Whereas, China’s siding with Pakistan will help to gather more allies in the form of Russia, Iran and other Central Asian states.