CPEC turns Pakistan into regional hub

Beijing: Project hailed for uplifting country’s economy, international connectivity

The China-Pakistan Economic Corridor has proved to be a “fate changer” for Pakistan and the region, uplifting Pakistan’s economy, as well as regional and international connectivity, said academics, civil servants and business people.

A mega project by national, regional and international standards, the CPEC was initiated in 2013 for China and Pakistan to jointly build local infrastructure and connectivity, and smoothen cultural and people-to-people exchanges.

Pakistan’s Prime Minister Shahbaz Sharif said the CPEC has profoundly transformed Pakistan’s economic and social landscape, Xinhua reported.

The CPEC has created hundreds of thousands of direct jobs, giving an economic boost in Pakistan, Federal Minister for Planning, Development & Reform Ahsan Iqbal said. It also benefits small and medium-sized enterprises indirectly linked to the CPEC projects.

Consequently, this economic activity has played a “pivotal role in combating poverty in Pakistan”, he said.

Gwadar Port in southern Pakistan, along with the upcoming international airport, is poised to become the epicenter of this transformation.

The Central Asian states are already signing agreements to leverage the benefits of Gwadar Port. The recent Pakistan-Afghanistan-Uzbekistan railway agreement also aims to enhance connectivity and provide more efficient access to Gwadar, according to the minister.