CPEC will provide the opportunity of immense economic ascend not only for Pakistan but will link China to the markets of Asia, Europe and Africa. Righty percent of China’s oil comes from Persian Gulf, through Strait of Malacca, to Shanghai. It takes 2-3months to cover the distance of more than 16,000km. If Gwadar becomes operational, it would reduce the distance to 5,000km. All is going well on its track since its inception in 2013, Chashma-I, Chashma-ll nuclear power plants in Karachi, Karot hydropower project of 720 megawatt will be generated on Jhehlum River in Rawalpindi. Out of 21 agreements of energy- including coal, gas and solar power plants- 14 will be able to produce 10,400 megawatts of energy by March 2018. It is worth mentioning that Pakistan’s chronic energy short-fall is of 4,500 mega-watts which is shedding 2-2.5% of GDP annually. So it would bolster the energy sector by more than double of short-fall.
The project is embodied by all optimism yet cannot be completely taken without apprehensions and reservations. The lack of consensus among all the political parties would be the foremost hurdle towards the implementation of CPEC project. Failure to address this issue will jeopardize Pakistan’s trade and economic growth with the other states of the region. It would, resultantly, slow down the progress pace of Pakistan. Gilgit-Baltistan is famous for the exports of fruits like apricot, cherries and apples. CPEC will be the game changer for the region’s traders by opening more feasible opportunities to them. This will provide the local traders to double their profits in the cost of transportation and increasing their sales. Currently, Fruits are being sent through air-cargo via Dubia it would be cheaper and quick if transported by road to China via Sinkiang.
Pakistan needs to strengthen its dilapidated economy. Already, Pakistan is facing numerous internal and external challenges. Terrorism, though dwindled after Zarb-a-Azb under the supervision of Ex-Chief of the Army Staff-General Raheel Sharif and currently Operational Rad-ul-Fasad initiated by General Kamar Javed Bajwa, has damaged the country a lot. Lawlessness in Karachi and Baluchistan has shaken the confidence of investors. SAARC has proved ineffective due to the arrogance of India. Poverty, corruption, unemployment and illiteracy are like venom to our country’s economy. Our trustworthy neighbor China has shown that by investing in Pakistan, the cordial relations between the “iron brothers” are going to be perennial. Chinese investment is going to be beneficial to Pakistan in curbing not only the menace of terrorism but also making Pakistan an Asian Tiger in the long run. Strong economy is more able to resist lawlessness. With CPEC materialized, Gawadar Port would become a major trading centre in the world, region will become industrialized and it would help us to be well-connected with the energy-rich Central Asia.