The relationship between China and Pakistan has evolved into a cordial strategic alliance based on a wide range of shared interests. Both nations have grown their bilateral trade and economic cooperation over time. Pakistan's top trading partner in terms of imports and exports has steadily been China. The China-Pakistan Economic Corridor (CPEC) is currently making headlines around the world. The lucrative CPEC project is probably going to solidify into a strong bondage that will greatly increase trade and economic cooperation between the two nations. The corridor will link China's Kashgar to Gwadar Port.
The project will make it possible for Gwadar, the area's first deep-sea port, to be fully operational. After becoming operational in 2007, Gwadar Port's management was given to China's state-owned China Overseas Ports Holding in February 2013. Since then, Gwadar has undergone several significant expansions to become a fully functional, deep-water commercial port. Currently, it takes around 45 days to send goods from China to the Persian Gulf, which is located about 13,000 km away. This distance will be cut by CPEC to just 2500 kilometers (80% decrease), while the shipping time would be cut in half to 10 days (78% reduction). Swift marine travel and envious shortcuts will alter the region's trading economy.
CPEC, or the China-Pakistan Economic Corridor, is a massive development initiative that aims to link Gwadar Port to China's Xinjiang province with a 2,700 km long roadway from Kashgar to Gwadar, freight train connections, oil and gas pipelines, and an optical fiber link. The project intends to modernize regional trade routes, boost Chinese involvement in the region, and close the infrastructure deficit in the region. One of the biggest and most significant projects for Pakistan and the region is CPEC. Pakistan has an enormous task in creating a transparent, accountable, and effective framework for utilizing and absorbing such a large investment of $ 46 billion, not to mention bringing about a revolution in business ethics and efficiency.
An estimated 34 billion dollars of investment have been set aside for energy-related projects. In the following ten years, CPEC wants to add 16,500 MW of energy to the national grid. The development of the energy industry will comprise about ten coal-fired projects, as well as hydro, solar, and wind power plants. The $12 billion set aside for the construction of basic infrastructure would be provided by Chinese businesses or financial institutions as soft loans between the states. China and Pakistan will each contribute 10% and 90% of such projects, respectively. These initiatives will be carried out in three phases, short-term, medium-term, and long-term, in a phased way.
According to estimates, short-term projects will be finished by 2017, medium-term by 2025, and long-term by 2030. In this regard, an agreement signed on July 20, 2013, designated a high-level Joint Coordination Committee (JCC) to supervise the execution of these projects.
Security, political, and economic dangers are all potential targets for CPEC, according to a detailed examination of the current situation. Along the CPEC path, criminal crime, nationalist insurrection, and extremist militancy all pose security risks. However, Pakistan has the necessary capabilities and sufficient security apparatus to resolve such issues amicably. With the much-praised Operation "Zarb-e-Azb," Pakistan has already demonstrated her ability and will to fight such threats. The aforementioned operation has significantly weakened the ETIM targeted at China while also driving away extremists from Pakistani soil. Pakistan is also making a quick recovery from its economic turmoil. The nation has a robust democracy and effective government institutions, and it is also politically stable.
Unfortunately, despite protecting their own interests, some Pakistani political circles appear to be disturbed by the CPEC. They have no desire to see Pakistan flourish. Even at the expense of the interests of the country, these select few political figures seek to reclaim their former positions of power through controversies, conflicts, and intrigue. In this situation, some Baluchistan and KPK political figures are drumming up provincialism in the thoughts and hearts of the innocent folk while holding a myopic perspective of CPEC. They believe that the growth and job possibilities that the CPEC will bring are being denied to their provinces.
The project will, however, be pursued with a strong resolution and determination thanks to complete agreement amongst the leadership of both major political parties. Chinese investment will promote growth and income levels while assisting in the removal of energy bottlenecks. CPEC has given China and Pakistan's adversaries restless nights since they are unable to accept it as a game-changing initiative for the region. These nations have been and will be putting obstacles in the way of CPEC development.
Our mainstream political parties and their leaders should take the initiative in persuading all regional parties that the CPEC is a God-given opportunity for Pakistan's prosperity and well-being, considering it a national obligation. Opportunities are like sunrises, as William Arthur Ward aptly observed. You miss them if you wait too long.
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