The true prospect of CPEC

Recently, a group of Parliamentarians visited the CPEC projects in Sindh, and termed Thar as a ‘bulwark of Pakistan’s future Energy Security’. According to the details, after visiting multiple avenues relating to development and energy-generating facilities, the Parliamentarians declared that the CPEC was a magnificent endeavor that guarantees a better tomorrow for Pakistan and China is a trusted friend who helped Pakistan to make this miracle.

The China-Pakistan Economic Corridor (CPEC) is a joint venture of all-weather Pak-China friendship that not only enhanced regional connectivity but also provides equal opportunities for economic and social development to both participating nations along with offering the same opportunities to other nations in the region. If global rivalry pauses for a movement, there would be no other lucrative business and trade activity in the world than China Pakistan Economic Corridor which connects Industiral giant to busy global trade routes in the Arabian Sea and also offers the same to Afghanistan, and the Central Asian States through Gawadar and Karachi ports. Besides providing state-of-the-art road and rail links, the CPEC scheme includes various energy projects, Special Economic Zones (SEZs), and Pak-China Knowledge Corridor through educational scholarships, scholarly exchanges, and entrepreneurs’ collaboration in business and industry.

Apparently, the CPEC has brought about significant development and social change along with business and employment opportunities which really have a pleasant effect on the national economy, however, so far this endeavor could not realize its true potential because of the prevailing regional geopolitical environment, global anti-CPEC campaign and delay in the completion of CPEC route in Sindh and Balochistan. The CPEC projects have not yet been fully implemented on the ground but the billions of dollars in Chinese investment are now due for repayment while depleting Pakistan’s economy is not in a position to make this commitment and the country faces severe challenges in the repayment of the CPEC along with other payments to global lenders. Therefore, the government needs to complete CPEC road projects at the earliest and move to the next phase, which commences with the trans-shipment of Chinese goods to the Middle East and the rest of the world through Karachi and Gwadar ports. So, Pakistan could able to generate revenue from the CPEC to repay its dues in a dignified manner.