China’s Investment in CPEC To Exceed $62b
Islamabad: China’s investment in CPEC will exceed Dollar 62 billion, says a report published by China Economic Net on Monday.
The people in Pakistan, speak highly of the CPEC, which has started yielding wondrous results in solid economic terms.
It CPEC is regarded as one of the major diplomatic and developmental initiatives of the 21st century under BRI that’s aims at improving intercontinental cooperation and connectivity.China’s BRI is rather a marvelous example of globalization that treats all the countries at par, without any hegemonic considerations involved in any manner.
As much as 20 billion dollars already invested in energy projects in Pakistan, the total investment is going to exceed 62 billion dollars by 2030, with more and more mega projects coming up in rapid succession. One such prime project is the Gwadar Port in Balochistan province.
This Port, once developed with China’s fast-track collaboration, is going to be one of the biggest deep sea ports of the world in terms of tonnage.
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Gwadar will provide Pakistan an edge over its traditional rivals in strategic terms besides making it a hub of international economic activity, generating billions of dollars in many ways including the transportation of oil.
Pakistanis enjoy the status- and privilege- of being called “iron Brothers” by the people of China. This iron brother relationship is flourishing in real terms and both Pakistan and China are working to overcome the bottlenecks.
Good news is that all the bottlenecks in the way of CPEC and China-Pakistan cooperation have been identified and are being overcome in full swing.
It is widely believed in Pakistan that, under the CPEC framework, numerous benefits are going to accrue to Pakistan in the long run which will surely outweigh any problems emerging in the intervening phases. Then, the creation of Special Economic Zones (SEZs), under CPEC, will give a big boost to Pakistan’s manufacturing sector in addition to creating thousands of employment opportunities for Pakistanis.
These SEZs will also multiply Pakistan’s exports and foreign-exchange earning channels to a great extent. They will also work like a powerful engine to salvage Pakistan out of the crippling ‘balance of payments’ crisis.