Since its inception in 2013, the China-Pakistan Economic Corridor has been growing in leaps and bounds. The multibillion-dollar project has become partially operational after successfully completing its initial planning process (2013–2015) and most of the official first phase (2015–2020). The year 2020 is going to be remarkable for CPEC. The project is set to take shape by 2020 and will start boosting economic growth in both countries.
CPEC is a massive project of the Belt and Road Initiative that covers China’s Xinjiang region and the whole territory of Pakistan including Islamabad, parts of Punjab, Khyber Pakhtunkhwa, Balochistan, Sindh, Azad Kashmir, and Gilgit-Baltistan. The key areas of development and cooperation include transport, industries, network infrastructure, energy, agriculture, poverty eradication, tourism and financial collaborations.
This unique project of connectivity aims at ensuring smooth trade flow and unparalleled economic growth for Pakistan, China and other regional countries. In this regard, significant work has been done in the sectors of energy and infrastructure. China already has the world’s largest transport system and is now helping its neighbors in the development of an extended and modern system of transport.
The Karachi Circular Railway (KCR) was scheduled to be completed in 10 years. But after its inclusion in the China-Pakistan Economic Corridor (CPEC), the project is set to be completed in three years (by September 2020) on a fast track. The total cost of the railway track will also be reduced due to the reduced completion time. The construction of modern tracks is planned along the existing track that runs through the densely populated areas of Karachi. This project will ease the lives of millions of people.
Practical cooperation between the two countries for the development of social and economic fields has been helpful in achieving the expected results. Pakistan has witnessed advancements in social and economic areas and China is also reaping benefits out of this joint venture. In a recently held meeting of the ninth joint cooperation committee of CPEC in November 2019, Pakistan and China appreciated the progress attained by joint working groups.
2020 will be an indispensible year for CPEC’s growth. Work on 17 out of 27 priority projects shall commence before 2020 on a fast track. The rest of the priority projects in the social and economic development component of CPEC are also in the pipeline. The joint cooperation committee agreed to proceed with the project development in a steady manner.
The first phase of CPEC, which is almost over, has focused on the development of energy and infrastructure sectors. Significant work has been done in this regard and power plants in Punjab, Karachi and Balochistan are already functional.
CPEC is soon going to enter the second phase of development, which is more focused on industrialization and socioeconomic growth. Each passing year in the diary of CPEC is challenging but also more rewarding at the same time. Upon the completion of the second phase, both countries will be socially and economically viable. The people of both nations are also hopeful about the ongoing project.
An evaluation of the planning process and the first phase of the CPEC’s implementation clearly reveals that this development initiative will function as a game changer for the economies of Pakistan and China.
The author is a research scholar at Communication University of China who specializes in journalism and cross-cultural communication. She is also a permanent faculty member of the Media Sciences Department at Shaheed Zulfikar Ali Bhutto Institute of Science and Technology, Islamabad.
The opinions expressed here are those of the writer and do not necessarily represent the views of China Daily and China Daily website.
Editor:Cherie
