An Overall look at China-Pakistan Economic Corridor

Engineering Post Report

The China-Pakistan Economic Corridor (CPEC) is a long term program between China and Pakistan. It aims to act as a “Gateway of Prosperity ” for both the countries and the region at large. The CPEC is focused to facilitate industrialization, trade and market access, integration with  global value chains, socio-economic development and poverty alleviation, agriculture modernization, Gwadar Oil City and blue economy, regional connectivity, and third -party  participation. Moreover, the focus has since been extended to also include cooperation in Science and Information Technology in the overall CPEC framework.
The CPEC would connect Gwadar port in the southwest of Pakistan  to China’s  northwestern region of Xinjiang via a network  of highways and railways, covering the entire country from North to South through  three different alignments: Eastern, Western and Central alignments. Road infrastructure on the Eastern Alignment is complete except the Sukkur-Hyderabad section  which was under construction. On the Western Alignment, Dera Ismail Khan-Zhob road has been conceived. The remaining projects  on the alignment  have either been completed  or at varying stages of their implementation. The Central Alignment was expected to  start  in the third phase of CPEC.

In the first phase of the implementation of   CPEC, priority was given to development prerequisites of CPEC  to initiate  economic activities. Investments under CPEC in infrastructure and energy sectors, through the implementation of early harvest projects, have filled in the voids and accelerated the  pace of economic growth of the country  which will  ultimately provide a  momentous boost to the economy of Pakistan.
In order to realize the vision  of CPEC in letter and spirit, CPEC  now emphasizes  areas which  contribute to the socio-economic uplift of the people of Pakistan. Industrialization and Agriculture Modernization  are the preferred areas to bing employment, enhance trade and earn foreign  exchange. Science and Technology cooperation  has also been designed  with an emphasis  on technology up-gradation and transfer to support the development  process under CPEC.
More about CPEC performance review during 2022-23 and outlook for the financial year 2023-24 will be  submitted in the subsequent months, please.