Daily Times

It has been almost five years since the mega structural and economic project was practically incepted. Throughout its progression, it was criticised multiple times by Western media and cynics of Pakistan. This is enough proof of the fact that the CPEC is a worthy project for Pakistan. In this regard, Washington remained consistent in spewing detest against China-Pakistan Economic corridor. Whether it was James Mattis, Tillerson or the latest in this league, Diplomat Alice Wells. Such remarks are understandable as Washington has been perturbed since President Xi announced the initiative of global connectivity through One Belt One Road.

As the second phase of CPEC is underway with full velocity, it is persistently irritating Washington as well as the nemeses of Pakistan. China is creating a strategic balance through CPEC. At the same time, Washington sees it as a competition. On the Pakistani side, things are juicing up as the second phase is expanding its horizons. The IT ministry of Pakistan has also confirmed co-operation with China under the CPEC. Moreover, cooperation on drug control is also a foreseeable venture. These expansions in CPEC skylines have made it a mega-social as well as mega-economic project, which surely will elevate the society as well as the economy of the country.

The second phase of the CPEC started with a USD one billion grant, whose prime focus would be the socio-economic development of the population, including health, poverty elevation, education, agriculture and vocational training through 20,000 scholarships. Moreover, the second phase of CPEC will focus on industrial collaboration, which will eventually give a robust boost to the struggling economy of Pakistan.

According to a recent study conducted by the Ministry of Planning, Development and Reforms, it was suggested that upon functioning of Special Economic Zones as a part of second phase projects of CPEC, around 575,000 direct whereas more than a million indirect jobs will be created. The Allama Iqbal Industrial City would contribute towards job creation by employing 290,000 people in direct jobs, Rashakai SEZ would intake around as much as 150,000 people, Dhabeji would provide around 80,000 jobs whereas the number of expected jobs in Bostan SEZ is approximately 55,000. These jobs will largely be for locals.

Moreover, the second phase of the Free Trade Agreement has given more access to Chinese market easing tariffs on 313 products. This will not only will elevate economic cogs of Pakistan but will also promote Pakistani goods. Pakistan’s Stock exchange has seen unprecedented growth in the past few weeks, which is also a good sign for the economy of the country. The government is also engaging the business community of Pakistan by creating a business council, headed by Abdul Razak Dawood. However, along with the business council, the government should also develop a design for small and medium enterprises (SMEs) to promote trade and job creation.

Expansions in CPEC skylines have made it a mega-social as well as a mega-economic project

For now, investments and businesses are on the rise. Prime Minister Khan will inaugurate Allama Iqbal industrial city by the end of this year, in which 25 companies have already agreed to invest. Not only this, work on six more SEZs in Punjab are in progress that upon completion can generate hefty amounts of money and can put Pakistan’s economy back on track.

Nevertheless, despite the efforts of rivals, the CPEC is standing stronger and keeping up with its pace. Just as it has completed its first phase of early harvest projects it will continue to prosper until its completion. It is a commitment between iron-brothers not a business deal between enterprises. All those who have the slightest bit of doubt that CPEC can be undone or it can be halted should consider that CPEC is not just a project but rather an emblem of brotherhood between two international allies. It is far more than just a deal on the wall street. CPEC is here to stay and God-willing will bear fruit for the lands and its people. The current government of Pakistan has shown full support to China-Pakistan Economic Corridor and has expressed it multiple times. It clearly shows that any political or practical attempt at sabotaging will be countered collectively. Now is the right time to tell the world that Pakistan fully owns CPEC and gives due credit to China and CPEC for sustaining the once shaky and uncertain economy of Pakistan. Pakistan will continue to strive to make it a prosperous project, which was rightly foresighted by Islamabad and Beijing five years ago.

The writer is the Founder & Executive Director of Islamabad Institute of Conflict Resolution (IICR), and member visiting faculty Dept. of Peace & Conflict Studies, NUML, and School of Politics & IR, Quaid-I- Azam University, Islamabad