Wider benefits: CPEC to boost business activities in Central Asia

China is relocating industrial units to Pakistan.

FAISALABAD: Turning Pakistan into an economic hub, the $46 billion ‘China-Pakistan Economic Corridor’ (CPEC) would spur huge trade, business and economic activities in the southwest and central Asian regions, said Qaisar Shamas Guccha, Central Chairman of the Pakistan Yarn Merchants Association.

The wide scope of the corridor could be reflected in hydroelectric, coal, solar and wind power projects on the one hand and Khunjerab-Gwadar road project and railway line, Karachi-Lahore Motorway, Metro Transit System, Iran gas pipeline and LNG terminal on the other.

He said the importance of economic corridor could be judged from the fact that out of 51 agreements, work on eight had already begun and foundation stones of five had been laid.



“Economic corridor projects will also shed positive light on the country’s industrial, trade and business activities, making the economy stronger,” he said.

“In addition to this, China is also relocating its industrial units to Pakistan to save import expenses. The Chinese are establishing textile units in Pakistan to manufacture textile goods and export them from Pakistan.”

Leaders of the association also demanded that the government effectively control the mismanagement in energy distribution in the country so that productivity could be maximised.

Published in The Express Tribune, April 23^rd, 2015.

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