Posted on November 14, 2018 at 03:00 PM
Once the Gwadar port is completed it will handle the 300-400 million tons of load to trade annually which will heavily increase the economy of Pakistan from 2 to 3.5 per cent for many years.
Currently, the Gwadar port handles half of million tons of load annually and it will increase up to one million.
Dr Ashafaq Khan, Principal of the school of economics, NUST, Islamabad said that Gwadar port of Pakistan can hold 300 to 400 million of tons of a load of goods whereas all the ports of India have the total capacity of handling 500 million tons of the year.
China Pakistan Economic Corridor with the connection of the Gwadar port of Pakistan can handle the big economies of the western part of China of 4-5 trillion. It will increase the economy of Pakistan with a total revenue of $300 billion along with other states like Central Asia. China-Pakistan Economic Corridor will be termed as International economic corridor stating that Pakistan will be the centre of International economic activities.
If Iran is interested to join CPEC even in the presence of CPEC of its own Chabahar port then China Pakistan Economic Corridor (CPEC) then it will become the part of not only change the face of Balochistan because of the nearest border of Iran then it will become the part of international economies.
Imran Khan during his visit to China said that the development of Gwadar port, road networks, railway tracks and air services will change the face of Balochistan and it will bring the new wave of development across the region. He further added that CPEC project has huge importance and beneficial for all partners and change the face of the country ensuring transparency in all projects under CPEC.
According to estimate, China Pakistan Economic Corridor (CPEC) is expected to enhance the economic growth at least by three per cent this year and five per cent till 2030. Higher the economic growth will create additional jobs in the range of 2 million jobs per annum, tax revenue and capital income.
Gwadar port is termed as "stand-alone" project and preparations are underway to encourage friendly countries in next phase. PTI government also discussed to launch Gwadar Smart City Master Plan in next year. The government aimed to provide energy, water, road and railway are the first priority of the project.
Dr Salman Shah the former finance minister of Pakistan said the economic integration of Pakistan and China are the key to make China Pakistan Economic Corridor (CPEC) a game changer and highlighting the grey areas if get corrected will make it a success story.
Shah said that Zhu Rangji, former prime minister of china and great strategic mind of china laid the foundation stone of Gwadar along with the then President of Pakistan General (retired) Pervez Musharraf. “His view was that every super power has access to the sea on all sides of its borders like the USA has an east coast and west coast. For China Pakistan is west coast. “This means Pakistan economically can be to China what California is to the USA,” Dr Shah argues.