New business and employment opportunities will be created under China-Pakistan Economic Corridor (CPEC) projects, particularly in the energy sector as the Pakistan government is utilizing all available resources to provide a useful business environment and promote investment. There is nothing to fear as Pakistan is moving in the right direction and in fact, recently the International Financial Institutions have acknowledged revival of country’s economy. CPEC project would provide employment opportunity to over 700,000 people.
China-Pakistan Economic Corridor (CPEC) would create huge employment opportunities in Pakistan and particularly help alleviate poverty in remote areas of Balochistan province. The project would not only promote trade from Gwadar to Kashgar but also ensure basic infrastructure including roads, electricity and energy projects in the province. The infrastructure development being carried out under CPEC project would greatly benefit people of Balochistan and create development opportunities there.
The CPEC project has great importance for Balochistan as the government has devised comprehensive strategy in all the sectors to provide its benefit at the grass root level. Areas of Balochistan are full of the mineral resources and after the 18th amendment; the mineral sector has come under the administrative control of the provincial government. There is a need to utilize mineral resources for the benefit of the province and its people.
The CPEC and industrial development in Gwadar would benefit the local people. The local youth will get professional training and skills as there are tremendous job opportunities for the skilled youth of the province. It is believed that the CPEC project will become a game changer for Pakistan and will bring tangible rewards to its population. Pakistan is anticipating a cut in unemployment by 2.32 million with the activation of CPEC-related projects within the next two years.
Hundreds of jobs are expected with the establishment of special economic zones under the CPEC that will also integrate the nation into global production chains. According to the reports, the 6th Joint Cooperation Committee of the China Pakistan Economic Corridor (CPEC) held in Beijing, recently, discussed various opportunities included the introduction of new projects into the CPEC framework.
The CPEC project will bring tangible rewards to its population. In this respect, it is necessary to plan concrete measures to expand the project by allowing more people to enjoy its benefits. Despite hurdle in implementation, the CPEC project is playing an important role in facilitating the development of Pakistan’s economy and creating new jobs.
The CPEC has made tremendous progress but also has faced criticism in Pakistan over the distribution of projects among the provinces in the country. The criticism regarding CPEC is not necessarily a bad thing as it incites intense enthusiasm for the project which could serve as a key driver for the local economy. However such vague criticism could delay the overall process.
It is necessary to establish an even distribution of the benefits from the CPEC across the whole of Pakistan. In this context it is frankly suggested that the patriotic people of Pakistan should think beyond their personal interests and work together to push forward the CPEC.
It is necessary that a more pragmatic solution would be in trying to expand the rewards to encourage more people to safeguard and stand behind the project. There is a huge demand for investment in Pakistan and that Chinese investment in the economic corridor will increase funding to advance the economy and social development. To broaden the scope of investment, China is expected to have an open mind about inviting third parties to join the CPEC.
The project could also benefit countries such as Afghanistan, Iran, India as well as Russia. The multi-billion dollars China-Pakistan Economic Corridor (CPEC) project is the platform of inclusive growth, which will create 85,000 jobs for youths.
Youngsters should prepare themselves in order to benefit from the opportunities offered by CPEC and play a constructive role in transforming the economy to a modern industrial economy by adding value at different levels.
Recently, the Chinese Minister of Commerce, Zhong Shan, said in a press conference that CPEC would provide more new jobs in Pakistan than ever. While talking to the press, the minister said that China-Pakistan Economic Corridor would create new job opportunities not only for Pakistanis but for all those using this trade route. In the recently held 12th National People’s Conference (NFC), matters like unemployment were also discussed.
China’s One Belt One Road (OBOR) project, which is a trade route for several participating countries, would help in boosting the economies of the related countries. The OBOR, till now, has been successful in generating billions of dollars for China. This route is now in the process to create 180,000 jobs in the region. This would be the largest ever job-creating route for the OBOR countries.
Along many, the trade route would also create new jobs in Pakistan and other opportunities for businesses.
Besides several other factors, CPEC has already started to boost the economy of Pakistan. Many are saying that Pakistan could become the world’s 16th largest economy by 2050. The Chinese minister also talked about the development strategies following the successful projects under OBOR being appreciated.
Dasu hydroelectric power project would provide more than 8,000 jobs to local residents while helping the Pakistan government modernize and expand the energy sector of the country, shifting from thermal generated electricity to clean, low-cost high reward hydroelectricity. The project, consisting of the main dam, affiliated facilities, a powerhouse, a residential complex and transmission lines, will also help boost the development of local industry, agriculture and tourism.
China has contracted to build the project situated in remote mountainous terrain in the district of Kohistan in Khyber Pakhtunkhwa. China Gezhouba Group Co (CGGC) Ltd has agreed to invest more than $1.72 billion for the construction of the main works of the 5,400 MW hydropower project.
According to Deng Yinqi, vice president of CGGC, a member company of the China Energy Engineering Corporation, the power project on completion would be capable of generating 12 billion kilowatt hours annually.
Experts said that the project will benefit both Chinese enterprises and improve livelihoods in Pakistan. The CGGC said in a statement that the project will be one of the most difficult hydropower stations to build, and will have the largest capacity and investment in Pakistan. It will also alleviate local power shortages and create a large number of employment opportunities, it said. The project is expected to create 8,000 jobs for the local community.
Zhou Rong, a senior research fellow at the Chongyang Institute for Financial Studies at the Renmin University of China, said it is worth noting that these employment opportunities will be brought to an underdeveloped region.
The Dasu project is a flagship project of the China-Pakistan Economic Corridor (CPEC), a part of the Belt and Road initiative.
Many of the CPEC projects are located in Punjab and Sindh, which makes economic sense as these more developed provinces are home to about 80 percent of the Pakistan population, but there are voices from other provinces that the CPEC should be more balanced.
Lin Boqiang, director of the Centre for Energy Economics Research at Xiamen University, said: “China has a strong hydropower industry. The success of huge projects like Dasu will lead to more cooperation in the future.”
China-Pakistan Economic Corridor (CPEC) project is not only confined to building roads but it is a comprehensive project for socio-economic development of the country. Energy projects costing over $35 billion were part of the corridor project which will help the country overcome energy crisis. Construction of deep sea port, in an international airport in Gwadar, and setting up of industrial zones along the CPEC are hallmark of this ambitious project.
Technical training institutes are also being set up along the CPEC route as well as in Gwadar to provide skilled workers to industry. Gwadar is being upgraded as big international city and all facilities are being provided there. Two dams are being constructed to meet water requirements of the city.