China-Pakistan Economic Corridor is live now from Gwadar to Kashgar
China and Pakistan has finally inaugurated the historical China Pakistan economic corridor. A link from Gwadar Port in Baluchistan to Kashgar China through Karakorum Highway and Silk Road is open for business now.
China has sent hundreds of container trucks to Pakistan’s Sust dry Port in Hunza Valley to get their first cargo consignment to China from across the globe through Gwadar port.
Prime Minister of Pakistan along with number of parliamentary heads and Armed forces officials and off course the Chinese officials have finally inaugurated the project in Gwadar last week. Pakistan and China have kicked off Sea cargo activities from Gwadar port.
The inaugural ceremony was attended by chief minister Gilgit Baltistan and commander of forces of Gilgit Baltistan. He also addressed to the ceremony and said that the CPEC will change the fate of their areas.
What will be the trade volume through Karakorum Highway?
It is addressed by the chief minister of Gilgit Baltistan that more than one thousand vehicles will manage container cargo and will pass through the area every week. The government of Pakistan has approved several new projects to provide the northern areas with most modern technology. This technology will boost the connectivity throughout the area.
CPEC and China‘s OBOR initiative
China has declared that the economic corridor is the part of their OBOR ingenuity and will definitely create new opportunities for trade with the outer world through Pakistan. It will help Pakistan to develop the infrastructure and new trade routes to other countries in the region.
Special economic zones and new industry will flourish in Pakistan and will strengthen the micro and macro dimensions of Pakistan’s economy. With the help of CPEC, Pakistan is ready for economic take off according to the Pakistan’s interior minister.
What are the benefits for Pakistan?
In terms of revenue, through the CPEC project including the Port and all its allied facilities, Pakistan will earn more than 40 billion dollars every year. From this revenue, Pakistan can pay all its debits in no more than five years. According to the economic experts, CPEC is going to change the fate of Pakistan and we are predicting the shift of power from outer world to Pakistan. In no more than next half of the century, Pakistan will stand with the developed countries of the world.
Apart from these benefits, the CPEC will create more than two million jobs and a greater value for Pakistan economy. It will also help Pakistan to make the South Asian region a seamless integrated region.
What Pakistan need to do in future?
Pakistan will have to discover and capitalise on all possibilities for a monetary revival. CPEC will beef up the bilateral relationship between China and Pakistan. Pakistan can best gain the great through CPEC with a greater realisation of its country wide pursuits. In order to reap the fruits of this mega project China, Pakistan needs to consider its own economic climate together with more than a few industrial and alternate sectors in order that the project can be utilised within the exceptional viable approach.
