BEIJING: China Pakistan Economic Corridor is the focus of attention for the people of Pakistan because of its rich and far-reaching benefits, said China Institute of International Studies’ President Su Ge.
The CPEC is part of China’s strategic ‘One-Belt, One Road’ initiative, known as OBOR, which talks about connecting about 64 countries in three continents.
According to Su Ge, the OBOR will be the largest economic belt in human history that will link Central Asia, South Asia, South East Asia and Africa. With the bulk of the corridor expected to be ready and operational by 2025, the future appears promising.
The CPEC summit and expo held in Islamabad on August 29 was a landmark event.
Chinese Ambassador Sun Weidong expressed satisfaction over the pace of work on the corridor project, and hence put to rest the rumors that CPEC faced economic and timeframe related difficulties.
According to Su Ge, multiple projects under the CPEC banner would add 30,000MW of energy over the next 10 years and bring development to Balochistan, Gilgit-Baltistan and the western belt of Khyber Pakhtunkhwa.
One must appreciate that within a short span of three years, despite a loss of eight months due to domestic political crises, projects worth $18 billion stand actualised.
Moreover, investment projects worth $17 billion are in the pipeline, to be launched within a year or so.
This is a remarkable story of devotion, commitment and hard work of Pakistani and Chinese experts and workers involved in the CPEC.
As of now, most of the early harvest projects are in a lag, but one must remember that all such project invariably suffer from delay – especially during initial phases – and multiple cost overruns.
Moreover, domestic undercurrents of misgiving remain relevant, even today.
Of these, a few misgiving are real, some are speculative, while majority are sponsored by vested interests – both domestic and foreign.
A senior Chinese official recently pointed out land acquisition issues while another said that ethnic differences could be a cause of concern if left unheeded. —INP
