Economic experts foresee maximum benefits for different sectors of Pakistan from China-Pakistan Economic Corridor (CPEC) project.
According to political economists, many sectors will get benefits from the project as in addition to the economic corridor, CPEC in Pakistan will include energy projects, infrastructure development, industrialization, and the expansion and improvement of Gwadar Port.
The project has great potentials for Pakistan, in both economic and regional domains. The experts say the goal of CPEC is both to transform Pakistan’s economy by modernizing its road, rail, air, and energy transportation systems and to connect the deep-sea Pakistani ports of Gwadar and Karachi to China’s Xinjiang province and beyond by overland routes. They say various studies highlighted the importance of CPEC for Pakistan and its role in the development of Pakistan. It has been predicted that there would be an increase of 6.43 percent in national GDP due to transport infrastructure and better transport infrastructure will also help Pakistan increase trade. It has forecast that Pakistan’s trade can increase by 9.8 percent if Pakistan implements reforms under CPEC.