CPEC and its influence on the economic growth of Pakistan

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CHINA PAKISTAN ECONOMIC CORRIDOR, BALUCHISTAN GWADAR PORT
Gwadar port Pakistan (CPEC)

China Pakistan economic corridor (CPEC) is a framework of economic regionalization and regional connectivity in the globalized world. Through its deep seaport, Gwadar will not only benefit China and Pakistan but will have a positive impact on Afghanistan, Iran, India by becoming the region’s key entrepot.

Gwadar is located in Baluchistan southwestern province of Pakistan. No doubt, it’s the crown jewel of $60 billion investment in its road and belt initiative projects in Pakistan.


The Belt refers to sea routes, and the road refers to the overland routes. This belt gives china in their western province direct access into the Arabian sea.

CPEC is expecting to bring huge benefits to the people of Pakistan and with the completion of several energy and infrastructure projects.

CPEC is a collection of huge infrastructure projects that are being constructed throughout Pakistan.

Saudi Crown Prince Muhammed Bin Salman announced an investment of $20 billion during his royal visit of Pakistan. It is one of the largest investment in the history of Pakistan and carries extraordinary importance between two brother countries.

As part of the CPEC, Gwadar holds pivotal importance due to the extension of silk road initiative. Gwadar port is an indispensable interchange for the Silk Route and a hub of connectivity for the corridor. China Pakistan economic corridor is not planning to limit Gwadar to a connecting port between China and Pakistan but trying to develop it as an economic hub for the rest of the world.

CPEC is a hope of better region of the future with peace, development and growth of economy. It has been touted as the game-changer for the economy of Pakistan.

The Gwadar port has been developed under CPEC at the cost of 1.62 billion dollars to link northern Pakistan and western China to the deepwater seaport. In 2016 construction started on the Gwadar special economic zone.

The CPEC has become the subject of numerous talk shows, conferences and articles etc.

This initiative will help to stimulate economic growth in Pakistan and improve the living condition in western region of Pakistan.

Another component of the economic corridor is the development of a quarter by the mouth of the Arabian sea. A new motorway, airport, railway is being constructed near the city.

The multibillion Gwadar port is now operational. In the beginning, the port is expected to see 1 million tons of cargo going through it. Gwadar is known as the heart of china Pakistan economic corridor (CPEC) any many believe the rising city will bridge Pakistan with the rest of the world.

The most viable, the most active and the most swiftly being implemented component and corridor is china Pakistan corridor. It is opening up Pakistan.

The first phase of the Gwadar free zone has already been operated. Numerous national and international companies in different businesses such as banks, hotels, logistics, tourism, and fish processing has already entered the free zone with direct investment of approximately 474 million dollars with an expectation of generating 790 million dollars after full business operation.

Completion of this project will change the destiny of Pakistan. According to the official statistics of Pakistan CPEC will create 2.3 million jobs between 2015-2030 for the people of Pakistan and annual economic growth of the country will by 2-2.5%.

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