CPEC-2

CPEC has ushered in an era of development, and has pulled Pakistan out of abyss

China and Pakistan have a long way to go. Their quest for strategic partnership is a cornerstone of their bilateralism, and has stood the tests of time in all eventualities. Perhaps, this is why the multi-billion dollar China-Pakistan Economic Corridor (CPEC), under the flagship of Belt and Road Initiative (BRI), has come as a succor for the ailing economy of Pakistan, and taken it to new strengths at a time when the region is groped in an era of militaristic alliances. Thus, the reiteration from Beijing to work closely with Pakistan and launch the second phase of CPEC, which would see industrialisation take root apart from buoying connectivity, is a blessing in disguise.

It is a constant that both the countries share a common denominator when it comes to regional amalgamation, and believe in a collaborative future. Beijing’s largesse to come to aid and assistance of Islamabad during economic adversities is now institutionalised in the form of $60 billion CPEC, which has posted the latter on the map of developing states. This aspect luckily comes in with political unanimity on both the sides, and the same was once again reiterated by Chinese Vice Foreign Minister Sun Weidong on his recent visit to Pakistan, and the high-profile interactions between the two leaderships. Likewise, the fact that both the neighbours see from the same prism while dealing with the outside world, and have cemented defence and technological cooperation too, was evident as Pakistan’s candidature was endorsed by China for the BRICS membership.

CPEC has ushered in an era of development, and has pulled Pakistan out of the abyss. While the first phase has crafted a network of roads along with energy generation projects, it would be meaningless if not backed by indigenous production units. Thus, the second phase meant to instill industrialisation in Pakistan is a must for putting an end to the economic downslide, and turn around profitable production. Of the planned nine SEZs, only three have seen the light of the day. The second phase must see the circle come through.

Published in The Express Tribune, January 28^th, 2024.

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