The China-Pakistan Economic Corridor (CPEC) has been gaining popularity in the world news as of late. But what exactly is this project? What does it entail? And how will it benefit Pakistan’s economy, generally speaking, and the individual provinces that comprise it? To answer these questions, here’s what you need to know about CPEC and its implications for the region and its citizens.
A short history of CPEC
The China-Pakistan Economic Corridor is a project that was first proposed by Chinese Premier Li Keqiang during a visit to Pakistan in 2013. The goal of CPEC is to improve Pakistan's infrastructure and increase trade between Pakistan and China.
The Gwadar Free Zone
At present following region has been designated as a free zone of Gwadar. Bits of terrains have previously been reserved/procured for the reason:
Gwadar port free zone: 2,281 sections of land
Framework is expected to be created for this modern zone, for instance, access streets, inside streets, water, gas, power, custom offices, fencing, security, a few distribution centers, office and other united foundation, and so on.
Proposing Agency: Gwadar Port Authority, MoMA
The Karakoram Highway
The KKH traverses the 806-kilometer-long (501 mi) distance between the China-Pakistan line and the town of Hasan Abdal. At Burhan Interchange close to Hasan Abdal, the current M1 motorway will cross the N-35 at the Shah Maqsood Interchange. From that point, access onwards to Islamabad and Lahore go on as a component of the current M1 and M2 motorways. Hasan Abdal will likewise be at crossing point of the Eastern Alignment, and Western Alignment.
The arranged moves up to the 470-kilometer-long (290 mi) segment between Hasan Abdal and Raikot of the Karakoram Highway throughout the following numerous years is authoritatively alluded to in Pakistan as the Karakoram Highway Phase 2 undertaking.
Biggest projects under CPEC
One of the biggest projects under CPEC is the development of Gwadar Port. The port is being developed with Chinese assistance and when completed, it will be a major hub for trade in the region. This will benefit Pakistan by providing jobs and increasing trade.
Other major projects include the construction of highways, railways, and power plants. These infrastructure projects will benefit all of Pakistan by improving transportation and increasing access to electricity.
The Balochistan package
The China-Pakistan Economic Corridor is a game-changer for Pakistan – and especially for Balochistan. With an estimated $46 billion worth of investment, CPEC will create 70,000 jobs and lead to the development of infrastructure, energy projects and Special Economic Zones. This will spur economic growth and reduce poverty in Balochistan. And, with a special focus on provincial connectivity, CPEC will help integration and balance within Pakistan.