CPEC set to attract $150b investment

Connectivity through mega CPEC project will enhance trade opportunities for Pakistan


APP September 12, 2016
PHOTO: REUTERS

ISLAMABAD: The connectivity through mega CPEC project will enhance trade opportunities for Pakistan with 70 per cent of the international maritime trade via Pakistan’s two big ports of Karachi and Gwadar.

According to a Khaleej Times report, the China Pakistan Economic Corridor (CPEC) is planned to shoot up for a $150 billion investment, and a new whole world of business that will make it the largest economic region, as details of its size and stature are unveiled this week.

CPEC to change fate of the region: Nawaz

The plan is to connect three engines of growth - South Asia, China and Central Asian Republics and aligning it with the entire South, Northern and North-Western regions.

Prime Minister Nawaz Sharif had on Sunday voiced confidence that once ready the CPEC projects would turn around the economic outlook of the whole region. The premier's remarks came just a day after Vice Minister of the International Department of the Communist Party of China, Zheng Xiaosong, stressed that political consensus is essential for fully exploiting the potential of the economic corridor.

Zheng, while talking with a visiting delegation of the PPP in Beijing, said: “Political consensus coupled with unanimity in approach is essential to draw the maximum benefits from this mega project which is a game-changer for the region.” These comments are significant because it came just days after Indian PM Narendra Modi had accused Pakistan of fomenting terrorism in South Asia while speaking at the just concluded G-20 summit in China.

Published in The Express Tribune, September 13th, 2016.

COMMENTS (27)

Vectra | 5 years ago | Reply @D khan: "FYI, there are already massive economic zones being planned and several major countries including Iran and turkey have expressed interest in being a part of this" Well CPEC if i am not wrong then it is some 2400 Km of highways across Pakistan and just today i read the news that India plans 27000 Km economic corridors of its own which is a separate project from already complete Golden Quadrilateral and North South East West Corridor, totaling 13,000 km. This new 27000 Km of economic corridor of India is almost 13 times bigger than the CPEC and costs around Rs 6 Lakh Crore INR or Rs 12 Lakh Crore PKR or $90 billion.
Vectra | 5 years ago | Reply @D khan: I just asked a simple question,if you have answer then you are free to share.Btw this is better plan or not and whether China will ensure its success or not is still a question mark whose answer only time will tell.Also there is an article in Global Times recently which urged CPC to focus more on Southeast Asia and focus less on CPEC for the time being but recommended to not abandon it completely.I can't tell if their mind set or thinking on CPEC being reviewed or not but lets wait for time.
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