After 1949, the People’s Republic of China began its journey of economic development and continued to grow, and then emerged as a major economy in the 21st century. Based on this large economy, China started a project called the Belt and Road Initiative (BRI), under which China wants to connect the world as much as possible through roads. BRI project as proposed by Chinese President Xi Jinping. In these international and mega projects, Pakistan is not only a participant, but in the case of CPEC, is a key component, but CPEC is like a backbone for Pakistan. Pakistan and China have a 72-year-old historical brotherly relationship, but the CPEC project, which is a priceless gift from China to Pakistan, has completed ten years. In an event on this occasion, the Prime Minister of Pakistan Shehbaz Sharif said that “China and Pakistan are iron brothers, CPEC is a new chapter in this proven, evergreen and reliable strategic cooperative partnership. CPEC is a plan to eradicate poverty, unemployment and economic depression. CPEC will bring benefits to Iran, Afghanistan, Central Asia and the entire region, CPEC is a beautiful plan to connect not only the regions and areas but also the hearts of the people.”
In May 2013, Chinese Premier Li Keqiang proposed CPEC during his visit to Pakistan, which received a positive response and importance from the Pakistani government. During Prime Minister Nawaz Sharif’s visit to China in July 2013, an MoU was signed to start work on CPEC. And then on April 20, 2015, on the occasion of Chinese President Xi Jinping visit to Pakistan, 51 memorandums of understanding were signed in various fields and the CPEC officially started. CPEC is a framework and platform for comprehensive and effective cooperation between China and Pakistan and CPEC is an important milestone on which the leaders of both the countries have agreed and have paid special attention to advance the journey of construction and development through this mega project.
China and Pakistan’s friendship is based on trust and mutual cooperation, they have been friends in both good and bad times. “First, we must strengthen mutual cooperation and deepen strategic cooperation,” President Xi Jinping said in his historic speech at the opening ceremony of CPEC. “We should maintain the good tradition of regular high-level visits and meetings, work together on key strategic issues, and support each other on issues of our respective core interests and core concerns. Second, we must pursue our common interests and achieve common development. We should use the China-Pakistan Economic Corridor to further our practical cooperation with a focus on Gwadar Port, energy, infrastructure development and industrial cooperation. So that the fruits of its development can reach all the people of Pakistan and the people of other countries in our region.”
CPEC is bringing a new dimension and a new vision to reinvigorate China-Pakistan relations. CPEC is of fundamental importance in strengthening the strategic partnership of China and Pakistan and in the journey of joint construction and development. The whole of Pakistan will benefit from CPEC and it will bring many benefits to the people of Pakistan. CPEC will promote the economic and social development of Pakistan in an effective manner. The construction of CPEC will also increase the integration in the development strategy of China and Pakistan, in which the interests of the people of both countries are hidden. Under CPEC, both the countries are committed to develop several major projects with a standardized and comprehensive strategy which is getting positive results and apart from China and Pakistan, the people of other countries of the region are also benefiting from it.
China-Pakistan Economic Corridor is the guarantor of Pakistan’s prosperity and development. CPEC is a great and wonderful gift from China’s leadership and people to Pakistan which can never be forgotten. It is worth noting that CPEC is not just a package of 64 billion dollars, but it is a reflection of the unprecedented friendship between Pakistan and China and a testimony of sincere love. Chinese leadership has given this great gift to Pakistan without any conditions.
Consulate General of China in Karachi Yang Yundong said about the investment in CPEC “China-Pakistan relations witness more fruitful cooperation. Over the past decade, the CPEC has brought $25.4 billion in direct investment to Pakistan, accumulated revenues of $17.55 billion, tax payments of $2.12 billion, created 192,000 job opportunities, and assisted Pakistan in adding 6,000 megawatts of electricity, 510 kilometers of highways, and 886 kilometers of the national grid, making significant contributions to promoting Pakistan’s economic and social development, enhancing people’s well-being, and deepening people-to-people affinity and regional connectivity between China and Pakistan. CEPC?has become a name brand of China-Pakistan cooperation.”
As a part of China Pakistan Economic Corridor, Gwadar has great importance. The port of Gwadar is a hub of communication. Economic analysts predict that Gwadar, with business and commercial activities, is fast becoming a major hub of international trade, with all the potential to play a major role in boosting the economy of Pakistan and the entire region. are present. Gwadar has helped China and Pakistan achieve the goal of the 21st Century Maritime Silk Route, which will benefit not only China and Pakistan but also Central Asia. The plans for Gwadar Port aim to develop Balochistan to its full economic, social, technological and energy potential and to integrate it closely within the economic framework of Pakistan and China.
Some projects in Gwadar under CPEC have been completed and some are under construction. Pakistan China Technical and Vocational Institute, New Gwadar International Airport, Pakistan China Friendship Hospital, Gwadar East Bay Expressway have been completed. While the Gwadar Smart Port City Master Plan, essential fresh water treatment, water supply and distribution facilities, 300 MW coal-fired power project and breakwater construction are under construction.
One of the biggest challenges facing Pakistan’s economy is the severe energy shortage. In 2013, Pakistan was facing more than ten hours of load shedding every day After the completion of power projects under CPEC, there has been significant improvement in the generation and availability of power in the domestic and industrial sectors. The network of motorways and roads spread across the country is also a part of CPEC. CPEC is playing an important role in economic development, eradication of poverty and improving the quality of life in Pakistan.
When the projects under CPEC are completed quickly, then domestic and foreign investments will come to Pakistan, new industries and factories will be established, then poverty and unemployment will be eradicated from Pakistan. Pakistan will be free from external debt and Pakistan will play an important role as a stable and strong country in the region. CPEC will surely help in making Pakistan more united and prosperous.