FUTURE OF CPEC
China Pakistan Economic Corridor (CPEC) is a very important and Joint venture of China and Pakistan. China Pakistan Economic Corridor has shifted the paradigm of power towards the East from West. The world no longer will be Uni-polar, soon it will be bipolar due to coming forth soft economic Sino-power. China Pakistan Economic Corridor symbolizes the interest and vision of a shared political- economic future on the part of two neighbouring countries. The proposed China Pakistan Economic Corridor offers a new dimension of regional politics by cultivating it more systematic and upgraded interaction for Energy, Industrial, Socio-Economical and trade development. China Pakistan Economic Corridor (CPEC) also provides an opportunity to Pakistan and China to improve their interaction and import-export with Central Asia, Middle East, West Asia and Europe.
Both Pakistan and China expected to gain the advantage from the proposed connectivity through Highways, Sea-lanes, Railways, Energy sectors, gas pipelines and fibre cable connectivity. Both countries have focused on Communications framework, which includes fibre optic cable connecting Pakistan and China, a new submarine landing station for internet traffic flow and a digital TV system. Pakistan & China put Energy sector on its first priority and it calculates a total capacity of 10400 MW of power generation in Pakistan at an estimated cost of 15,506 million. Both Countries are currently working on energy sectors to provide energy to industrial sectors. The primary focus is thermal and winds power in order to put energy sectors operational by the year of 2018-2019. Hydro Power Projects are under construction and will be operational around 2020.
Industries entering in agriculture will be given an extraordinary level of assistance, through free capitals and loans. Agriculture project includes livestock breeding, development of hybrid varieties, seeds, fertiliser, pesticides.
TOURISM & RECREATION
one of the most intriguing chapters is the development of a “Coastal tourism” industry. It speaks of a long belt of coastal enjoyment industry that includes yachts wharfs, cruise homeports, nightlife, city parks, public square, theatres, golf courses and Spas, hot spring hotels and water sports.
For industry, the Long-term Plan divides the country into three major zones: Western and northwestern, southern and central. It includes specific industries in designated industrial Special Economic Zones (SEZ,s). KP and Balochistan offer mineral extraction with potential in chrome ore, gold reserves and diamonds and marble. Different central zones marked for Textile, household appliances and cement. Pakistan will develop petrochemical, Iron, steel, harbour industry, auto parts.
BOOST TO PAKISTAN ECONOMY
According to Pakistan Economic survey 2016-2017, the Volume trade between China and Pakistan Economy has increased to $26 billion. China ‘s export to Pakistan increased by 12 percent during the last five years. The actual estimated cost has increased to US$75 billion, out of which US$45 billion are used to ensure that Corridor will be operational by 2020. The remaining investment will be used for Infrastructure and energy generation.
INFRASTRUCTURAL AND ECONOMIC FUTURE
CPEC future offers Pakistan an excellent opportunity develop and upgrade the basic infrastructure of all provinces. The network of road, railways, airports and a new structure of Gwadar port will change the future of Pakistan and China and its investors.
In addition to a fully operational China, Pakistan Economic Corridor (CPEC) offer 2 million jobs. The proposed investment will increase Pakistan US$274 billion GDP by over 15%.
CPEC ACHIEVEABLE TARGETS 2025
- 500 joint ventures between top Pakistani and Chinese Companies
- 500 top Chinese multinationals have been based in Pakistan.
- 10 million jobs have been created.
- GDP increased $700B from $300B, External trade of $700B/Y; Currently $70B
- External trade of $700B/Y; Currently $70B, FDI $50B/Y with 50% from China in manufacture
- several G-20 and implementation agreements between G2G, G2B and B2B.
CPEC FUTURE CONNECTIVITY
Different countries showed interest to Invest in Pakistan. Gwadar port plays a key strategic location for trade. Russia, Qatar, Oman, Muscat, Saudi Arabia and Central Asian states are keen to plug their networks to CPEC. The China Pakistan Economic Corridor (CPEC) will provide immense opportunities to Pakistan. China Pakistan Economic Corridor is economically vital to Pakistan and it is helping Pakistan to drive its economic growth. CPEC is termed as “game changer” for the region, which offers one of the largest sums of foreign investments into Pakistan. China Pakistan Economic Corridor is hope of progressing and better region with peace growth and development.Pakistan is a growing domestic market, particularly in cement and household appliances, which receive detailed treatment in the plan.