Opportunities and Challenges for Pakistan over CPEC

CPEC-Opportunity Creator

China Pakistan Economic Corridor (CPEC) was launched in April 2015 and brought about a promising investment of US $ 64 billion in Pakistan. The CPEC project has helped Pakistan overcome the power crisis and is a centralization project of China's one-party, one-way process and aims to improve relations between Pakistan-China and Eurasia. It contains a series of transportation and energy projects and the development of the Special Economic Zone Gwadar Port Pakistan and will be completed by 2030.

 

The energy sector accounts for the largest share of the CPEC investment of 72%. The second largest investment in CPEC is the transportation sector which includes the construction of roads and railways and another major feature Gwadar Port Pakistan is the construction of Special Economic Zones.

 

The pitfalls of CPEC

CPEC holds the importance of Pakistan and China, but how do these countries effectively implement the project. The lack of information sharing between government and the public also undermines trust. Since the time of PML-N's lack of detail has raised many questions and fears among the people. And these problems will cause great dissatisfaction between individuals and institutions. And maintaining a tight financial budget will result in project failures in Pakistan or late completion of jobs.

 

The business community also has some doubts about foreign investment and fears that once the Gwadar Port Pakistan is completed, Chinese goods will enter the already troubled Pakistan market and domestic market and face Chinese goods competition as the PML-N government accused of giving money to Chinese investors and investing. While the Sino-Pak free trade agreement and problems have a credible barrier between both countries. Read more.

Special Economic Zone Gwadar

The purpose of the Special EconomicZone in Gwadar Port Pakistan can be seen as providing the economy of the undeveloped Balochistan and overcoming the water issue in the province and distillation plants are the only viable solutions to the problem but the lack of financial resources has made sense. This distillation plant established in Gwadar and Karwat is said to provide 2 million water capacity daily but only operate 0.3 million daily water production.

 


Location: Gwadar, Balochistan, Pakistan

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