Daily Times

The China Pakistan Economics Corridor (CPEC) is going through inevitable changes in the socio-economic atmosphere of Pakistan. While overall economic activity around the world continued to increase a leveling off tendency was observed during the partition and independence in 1947.

Pakistan inherited the most backward part of South Asia with one university, one textile mill and one jute factory. The country has made tremendous progress and its per capita GNP remains the highest in South Asia and now Pakistan has started a mega project with China. The vision and mission of CPEC is to improve lives of the people of Pakistan and China by building an economic corridor promoting bilateral connectivity, construction, explore potential bilateral investment, economic and trade.

CPEC would bring the dimensional process involving major change in social structure, popular attitudes and national institution as well as the acceleration of economics growth and the eradication of poverty. In brief CPEC would bring change and harbor economic development.

The primary objective of development is the provision and expansion of basic human needs such as food, clothing, shelter, health, and protection. Another important objective of development is to raise the living standards of people by providing them higher income, more job opportunities, better education, and greater freedoms. Economic growth is a long-run process and involves a period of decades. It is accompanied by a substantial rise in the real per capita income. It is always associated with substantial rise in the productive capacity of the economy. The rise in real output can be achieved by proper utilisation of natural and human resources and better technique of production in all sectors of economy.

The major objective here is to eradicate poverty — poverty is a major challenge in Pakistan. The government estimate was that almost50 percent of the population lived below the poverty line (those who earn 1-2 dollars per day). Under the changing occupational structure, there is hope that it will also bring about a change in the structure of national output, structure of industrial production, structure of foreign trade, technological progress, and social and institutional changes will be seen through this mega project. CPEC will change the destiny of Pakistan and will bring prosperity to the region.

MUHAMMAD TAHIR

Karachi

Published in Daily Times, September 25^th 2017.