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

Say Pakistan cannot afford poor relations with western countries

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.



“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.



“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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