Business

CPEC’s pros, cons should be measured carefully: experts

Say Pakistan cannot afford poor relations with western countries

Our Correspondent March 16, 2017

PHOTO: AFP

LAHORE: Gallup Pakistan CEO Dr Ijaz Shafi Gilani said that the China-Pakistan Economic Corridor (CPEC) should also be evaluated in light of the country’s relations with the rest of the world.

In a discussion among experts, Gilani stated that if not threaded with utmost precision, the CPEC might hamper Pakistan’s relations with western countries which have time and again come to the country’s rescue in times of need.

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“CPEC should be beneficial for everyone, which is why its pros and cons should be monitored and handled carefully,” he said. “Some circles have reservations about the project and one of them is that Pakistan would be isolated from the west. This aspect requires special focus from our policymakers as we cannot afford subpar relations with those countries that have remained significant for aid and trade.”

Gallup Pakistan’s CEO said that in 2008 Pakistan’s trade with China was 11% of its total trade, which has now risen to 29% as of 2015. He added that not only Pakistan should continue market diversification, but also balance trade with China.

Meanwhile, on the occasion, Lahore Chamber of Commerce and Industry (LCCI) President Abdul Basit said that CPEC is being proved as a game changer in reality since it is gaining attention of the entire world.

“The project would bring a revolution in the areas of physical infrastructure, energy and human resources,” he said. “It will also help Pakistan in technological advancement and improve the region’s connectivity system.”

The LCCI president urged local manufacturers to invest in CPEC-related projects.

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“Projects like this have the capacity to stimulate the local economy by increasing the demand for local-manufactured goods,” he said. “Such an increase in demand will not only allow full utilisation of the existing manufacturing potential, but will also encourage the manufacturers to increase their capacity.”

Published in The Express Tribune, March 16^th, 2017.

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COMMENTS (3)

ishrat salim | 7 years ago | Reply 2 late Sir, to study pros& cons at this stage. This exercise should have been done long before the project was envisaged & planned, but do we have kind of experts, education, knowledge & long term vision by our leaders ?

cautious | 7 years ago | Reply The West has been supportive of Gwadar so I am unsure what point Gilani is trying to make. If he is referring to the rumors that China may use Gwadar as military outpost then he's absolutely correct - that would be a dumb move who's downside outweighs it's benefits.

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ProPakistani | 7 years ago | Reply What has Govt done to safeguard the locals in CPEC? I am not against CPEC, it's a great project for Pakistan but we could have evolved as a skill ready nation at the end of this project, rather we are just being the bystanders of the Project completion. There is no mention of keeping minimum Pakistanis under the plethora of Companies being made under CPEC. The managers, the workers the labours the security the vehicles all are coming from China. There should have been a minimum percentage of Pakistanis as a must in these newly formed firms but instead China is exploiting the relaxations or negligence in other words of our Govt to protect the rights of its own people first. The existing Chinese companies are firing local staff as relaxations granted under CPEC are more viable to keep Chinese staff, as all the money they earn from here will go back to the place of origination. This is indeed a sad state of affairs and I hope the Govt wakes up to the situation before the project packs up.

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