CPEC, or the china Pakistan economic corridor, is a collection of infrastructure projects constructed in Pakistan with the help of China. It was established in 2013, and its value is 62 billion dollars. It includes gas and oil pipelines along with modernly built roads and highways. The Gwadar Port, which is currently under operation, is also a part of this project. You should also know the rule of CPEC in Rudn Enclave.
Will create several jobs
CPEC will employ several people and will help tackle the rising unemployment in Pakistan. The coal power station in Sahiwal has already hired three thousand locals. Moreover, 30,000 jobs have been created to make finding work a lot easier. Many of these projects are located in KPK and Baluchistan, where employment opportunities are already very low.
Help develop the infrastructure
It is no secret that the infrastructure in Pakistan is extremely poor, especially in remote areas. Poor infrastructure has killed several people and has halted trading. CPEC has constructed highways and roads that are modernly built and will make travel easier to China and within the country.
A train in Lahore
China has promised to fund a metro train in Lahore that will connect the city as it goes all the way from one end to the other. This train will make travel both easier and cheaper for the workers. The train has the capacity to hold 250,000 passengers at the same time, making it the biggest metro train in Pakistan.
Power shortage is a problem many countries face, and Pakistan is no stranger to this problem. Several power projects under CPEC are being developed, including the largest solar plant-the Quaid-e-Azam solar plant located in Bahawalpur. This not only leads to a greater supply of energy but will allow Pakistan to make renewable energy. Renewable energy is both cheaper and more environmentally friendly. Know the development work in Kingdom Valley Islamabad.
Increase in GDP
GDP or the gross domestic product is the per capita income of a person in a country. This project is set to boost the country’s GDP by 7.5%. A country’s GDP has a positive effect on all factors, including the people’s living standards. Increased economic activity due to CPEC will result in a higher GDP for Pakistan.
It helps establish peace and friendship between the two countries.
China and Pakistan have been friends for a long time, and this friendship has been made even stronger due to CPEC. This project ties both countries into an economic partnership. It has brought them closer and has helped maintain peace and friendship. Having a friendly neighbor is beneficial for Pakistan as it makes the country feel more secure. While Pakistan’s relationship with India has constantly become worse, China has always proven to be a true friend by standing with Pakistan at all times.
Attracted Foreign Investment
CPEC has helped bring a significant amount of foreign investment into Pakistan. All the terrorist attacks in Pakistan during the war with Afghanistan closed the doors for any foreign investment. It was CPEC that opened these doors again. Foreign investment not only contributes to development, but the flow of dollars into the country improves the exchange rate, which directly impacts all economic activities.
Pakistan’s reputation in the international world
Pakistan suffered as a result of the war with Afghanistan in terms of the lives lost and from an economic point of view. CPEC helped Pakistan regain its standing in the international world. After CPEC and China’s interest in Pakistan, people started viewing Pakistan as a country with economic potential. Read
CPEC has proven to be extremely beneficial for Pakistan. Despite all the initial talks about it having negative consequences for Pakistan and some even calling it a debt trap, it has given Pakistan a lot of economic benefits. It will continue to result in many more. CPEC gives Pakistan a chance to emerge as a developed country with a fast-growing economy.