China - Pakistan Economic Corridor, which is famous as CPEC is an ongoing mega project which includes the construction of roads, railway lines, gas and oil pipelines, industrial zones, international airports, highways, power plants, sea ports and a lot more. CPEC is a part of China’s One Belt One Road (OBOR) initiative. In the beginning, China and Pakistan signed 51 agreements worth of $46 billion USD under CPEC, but now the value of CPEC projects has reached to $62 billion USD. Its main aim is to link Gawadar Port(Pakistan) to Xinjiang(China).
China - Pakistan Economic Corridor is a symbol of China-Pakistan friendship and is of extreme importance for both countries. CPEC is being called a “game changer” or “fate changer” as it has given us new hopes, new opportunities for a better, strong and developed Pakistan. Its benefits would not be limited to Pakistan and China only, but it would be beneficial for the whole region. It will provide better connectivity and will open new doors of progress and development. That's why the economic experts are calling it a revolution in the field of economics.
No doubt, CPEC is an economic breakthrough for Pakistan, promises to transform the economy of Pakistan.. China - Pakistan Economic Corridor would be a fate-changer for the people of Pakistan as it is expected to provide around 2 million direct and indirect jobs. Energy crises and bad infrastructure have proved to be one of the biggest hurdles in the way of Pakistan’s development. CPEC include the construction of industrial parks, power projects, road networks, railway networks, Cross border optical fiber cable, Special Economic Zones (SEZS) and other projects which will eliminate these problems and boost trade and commerce. CPEC will make Pakistan one of the most strategically important countries of the world.
This project is of extreme significance for China too as CPEC would act as an alternative to pirate-swarmed Strait of Malacca, patrolled by Indian navy for China. CPEC will reduce China’s trade route to great extent. Gawadar Port will reduce the shipping cost of China to Middle East, Africa and Europe . in short, CPEC will boost China’s trade and strengthen its economy.
As it is of extreme importance for Pakistan and China, obviously our enemies are not happy with it. India and other foes have left no stone unturned to cease the project. Pakistan has to face a lot of challenges for the implementation of this project. The biggest one is the security of CPEC. In order to ensure the security of chinese personnel working on the projects, a Special Security Division (SSD) has been set up. There are other issues too like CPEC routes controversies, tension between different political parties related to CPEC, conspiracies etc. but Pakistan is ready to face these challenges. Pakistan greatly values this project and is determined to turn this golden opportunity into an economic reality. Completion of CPEC is top priority of the Government of Pakistan.
Despite all the hurdles and conpiracies, the work on CPEC projects is going on in full swing. CPEC is going to play a dynamic role in promoting regional connectivity, trade and commerce, industrial cooperation, financial cooperation, tourism, education, peace and development of the whole region. It is gateway to a prosperous future not only for Pakistan, but for the whole region.