The Pakistani leadership describes CPEC as a game changer for Pakistan
ISLAMABAD: The China-Pakistan Economic Corridor (CPEC) is a mega economic project and part of the one-belt and one-road project initiated by China for the modern reconstruction of the ancient silk route. Both countries have signed 19 agreements and memorandums of understanding, which indicate that both are willing to boost win-win cooperation in various fields including energy, industry, transportation and communication infrastructure. In addition, this project will provide China an opportunity to access African, European, and Middle Eastern markets via China’s western province of Xinjiang to Gwadar Port. This multibillion-dollar project has opened Pakistan’s readjustment options from geo-politick to geo-economics. However, Pakistan must proceed with caution and pay attention to some aspects.
There are certain domestic and regional challenges that are becoming a hurdle in the path of CPEC. Some political parties, such as the Awami National Party, have scruples about CPEC and have therefore planned a series of protests against the change of the CPEC western route and the deprivation of the Pakhtun and the Baloch peoples’ interests.
It is pertinent to mention that the CPEC project is not economic aid given to Pakistan, although it is an investment in the shape of a concessional loan given by Chinese banks. The Pakistani leadership describes CPEC as a game changer for Pakistan. However, the effects of the project will not be realised for another ten to 15 years. Therefore, Pakistan and China need to employ a multidimensional strategy encompassing both soft and hard work as that is the need of the hour.
Muhammad Waqar
Published in The Express Tribune, October 26th, 2016.
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