China Pakistan Economic Corridor (CPEC) is an integrated infrastructural framework that is meant for deep regional connectivity. CPEC is basically a comprehensive plan of integrating the regions of Pakistan, China, Central Asia and Iran through uplifted rail and road networks. CPEC is set to build-up comprehensive road network along with developing a complete eco system that will comprise of industrial and agricultural zones, knowledge hubs, business nuclei etc.
The purpose of CPEC is to enhance regional cooperation in terms of business, agriculture and social uplift by people to people and government to government exchanges. The philosophy behind the CPEC is to develop a model based on mutual benefits of the participating countries and to enhance the flow of trade related activities. CPEC also promises myriad of employment opportunities along with comprehensive social uplift of the region.
CPEC – The Game Changer
The China Pakistan Economic Corridor, in specific, has a massive pipelines of infrastructural and social uplift projects related to industries, agriculture and transport. Apart from these developments, China and Pakistan have agreed to invest at least USD 33 Billion in energy related projects under the CPEC umbrella to counter the deficiency of power production in the country. Starting from Mainland China and stretching towards Gwadar, Pakistan, the CPEC is set to boost the country’s economy by at least 15% with a myriad of social uplift and employment opportunities alongside.
The China Pakistan Economic Corridor is a voyage to prosperity, regional harmony and positive social and infrastructural uplift. The corridor is not just a concrete patch, but a cradle of peace and development for the whole region. Recently, the Federal Government of Pakistan has proposed to include eight new projects in the existing CPEC framework. The projects are set to become a part of China Pakistan Economic Corridor (CPEC) framework 2020-21. The projects are related to logistics and transport infrastructure development. These projects will be presented as part of the framework package in the upcoming Pak China Joint Coordination Committee to be held later in the year.
8 New Projects For CPEC
These eight projects include deployment and restructuring of new and existing transport infrastructure in the country. This is pertinent to mention here that recently CPEC saw another boost with China and Pakistan signing USD 11 Billion worth of energy related projects. Of these two projects, USD 3.9 Billion has been allocated for twohydropower projects located in Kashmir while USD 7.2 Billion has been allotted to revamp of Pakistan Railways overall infrastructure and development. This is worth mentioning here that the eight projects recently proposed to be integrated in the CPEC do not include these two mega deals.
The eight projects that have been proposed to be added in the existing pool of projects are: Greater Peshawar Mass Transit Project – The Peshawar Mass Transit, in principal, has been made a part of the CPEC consortium. Apart from this, the feasibility study of expanding the Peshawar Mass Transit is underway and it will be completed by this year’s end.
82-kilometre Swat Expressway Phase-II – The 82 KM patch of the Swat expressway phase II is already under process and this has been added to the CPEC consortium.
Apart from these two projects, the Karachi Port Development Projects, Thar – Chor Railway Line revamp spanning on 105 KM, New Railway line measuring 22 KM between Hub and Karachi, Keti Bandar Port Development, 182 KM Karachi, Quetta and Chamman Motorway and Optical Fiber Phase II design and deployment.
The Impact of Inclusion
The inclusion of these 8 projects in the CPEC projects pipeline will boost availability of employment opportunities as well as provide the locals with means of flawless transport. The Quetta – Karachi motorway will prove to be a turning point in the region’s trade and business scenario. This route has substantial importance for the traders of Baluchistan and Sindh combined.
Apart from these 8 projects, the projects that are under the CPEC consortium and have already been completed are Sukkur – Multan Motorway, Sukkur – Hyderabad Motorway, HaklaDera Motorway section and orange line metro in Lahore.
CPEC is the game changer project for the whole south Asian region. It will help Pakistan grown its GDP by nearly 17% with a greater connectivity with whole world. CPEC has also given a boost to Pakistan’s real estate sector. With economic and industrial zones along with new cities planned along the CPEC, the real estate investors of the region are positive of the current and future prospects.