Question

you are required to study on the required area and provide a detailed note on them. Include your own opinion about the subject area and back it up with the facts, figures and published reports etc.

Question: CPEC, a fate of pakistan and its economy. A great success or a doom for the economy of pakistan?

Answer 1

China - Pakistan Economic Corridor (CPEC) is a strategic economic project of development of various infrastructure in pakistan to enhance economic growth. CPEC project is worth dollar 62 billion (2017). It is a collection of numerous port, road network and energy projects. Vast highways and railways is to be built under this mega project . As per inefficiency of road network in Pakistan is causing loss of 3.55% of GDP every year. Road transportation network will link gwadar and karachi port with North Pakistan as well as china and central Asia. Between karchi and lahore a highway route of 1100 km will be built under CPEC mega project. Railway will also be connected to China under this project. Upgrading of railway route for high speed train upto 160km/h. It is estimated that it will cost dollar 11 billion to modernise transportation network. On the other hand dollar 33 billion worth of energy project is to be constructed through private companies to cover energy shortage in Pakistan . It will create 4500 MW power regularly and add 2.5% to gross domestic product. Over 10400 MW of energy generation is to be added soon in coming years. Over dollar 2.5 billion worth of pipe line network from Pakistan to Iran is to be laid for transportation of natural gas to Pak. Wind, solar power, hydro electricity project is also included in CPEC. According to statistic's over 2.3 million jobs will be created in Pakistan till 2030 and add upto 2- 2.5 % of annual economic growth. According to statistics CPEC will add 6% to country's GDP and fulfill energy requirements of the country and will eventually boost economic growth.