Another good article I came across worth reading/ sharing regarding CPEC:
"CPEC Benefits for Pakistan: Pakistan has been playing a significant role in SouthAsia. After the completion of China Pakistan EconomicCorridor; economic, commercial as well as geostrategicenvironment will improve in Pakistan. It will help Pakistanin dealing with the problems of poverty, unemployment andinequities of undeveloped provinces. During his meetingwith President Xi Jinping, President Mamnoon Hussain saidthe China Pakistan economic Corridor would prove to be agame-changer in the whole region by generating massivetrade and economic activity and opening new vistas ofprogress and prosperity for the people of the two countriesand about three billion people of the region.48CPEC from all counts will prove a game changer and willmake China a real stakeholder in Pakistan’s stability andsecurity. It is a win-win situation for both. It will greatlyexpand the scope for the sustainable and stable developmentof China’s economic development. Investments by Chinawill boost Pakistan’s $274 billion GDP by over 15%.Corresponding progress and prosperity in Pakistan andChina’s patronage will help Pakistan in getting rid of thedecade old labels of ‘epicenter of terrorism’, ‘most 160 Pakistan Vision Vol. 16 No. 2dangerous country’ and a ‘failing state’. Pakistan enjoys amore favorable fiscal situation compared to India byreducing its budget deficit to 4.7% of GDP in 2014 (asagainst India’s 7%) and Pakistan is both competitive andcheaper as an emerging market. China’s economic andmilitary assistance will help Pakistan a great deal innarrowing its ever widening gap in economic-military-nuclearfields with India and in bettering its defense potential. 49Ambassador of China to Pakistan Sun Weidong whiletalking about the corridor said that the setting up of energy,transport, infrastructure and industrial projects under ChinaPakistan Economic Corridor (CPEC) would benefit all theprovinces of Pakistan. He said that the CPEC was notlimited to just a road but it will connect the country with anumber of motorways and infrastructure projects. Heexplained that infrastructure projects included Gwadar port,the second phase of the upgrading project of KarakoramHighway, motorway project between Karachi and Lahore,Thakot-Havelian motorway, Gwadar port expressway,Gwadar international airport and Karachi Sukkur motorway,adding further that the project will increase collaboration inareas of energy, finance, commerce, banking, industry andeducation.50Here are some benefits which Pakistan will take after thecompletion of CPEC.Overcoming Energy crisesEnergy is described as life line of the economy of anycountry. It is most vibrant instrument of socioeconomicdevelopment of a country. Due to population growth andindustrial demand, there have been severe energy crises inPakistan. The major reason behind Pakistan’s poor powergeneration is the political instability and the exponentiallyincreasing demand for power and lack of efficiency. Nosignificant solution to the problem has yet been found and itcontinues to torment the citizens as power supply is one of CPEC: Challenges and Opportunities for Pakistan 161the basic necessities in this era of modern technology. Powerblackouts and load shedding (deliberate blackouts) arecommon in every area around Pakistan especially the majorcities. Wapda and KESC have failed to tackle the problemthat exposes the failure of the system of the state.51CPEC is the ideal project which will help rid country ofthe energy crises. Energy availability in country will reviveexisting industries, such as textile to full production and addan estimated 2 percent to Pakistan’s GDP growth.52Chief Minister Punjab, Shahbaz Sharif said that China isextending great economic cooperation to Pakistan and thatthe government is making serious effort for resolving theenergy crisis and a number of projects with Chinesecooperation would start producing electricity.53Planning Development and Reforms Minister AhsanIqbal said CPEC framework will cover four major areas andenergy zone is one of them. In the energy sector, projecttotaling 10,400 megawatts had been included in the earlyharvest (first priority) programme, which could becompleted by 2018. In all, Chinese firms will put up $35 to$37bn in the foreign direct investment for independentpower production (IPP)under an investment policy that wasavailable to all investors.54These projects would be based on wind, solar, coal andhydropower generation of 16,400 MW as well as thetransmission system and would be located in all theprovinces and Azad Kashmir. He further said China wouldbe setting up 10 projects of 6,600MW in the Thar Desertthat would transform this remote and underdevelopedregion into Pakistan’s energy capital and open up economicopportunities for the people.55Infrastructure developmentInfrastructure development – including the developmentof roads, ports and highways is another important segmentof CPEC. This project basically will improve Pakistan’s 162 Pakistan Vision Vol. 16 No. 2infrastructure connection with all sub regions in Asia, andbetween Europe Asia and Africa step by step and willremove all investment and trade barriers for the creation of asound business environment within the region and in allrelated countries.56 After the complementation of thisProject, Pakistan will become modernize and then byspreading out markets for manufactured good. The areasadjacent to the corridor would become attractive locationsfor manufacturing, agricultural and services industries, Smalland medium enterprises would be special beneficiaries.Employment and economic growth expand significantly.57 Itwill also attract whole world for economic and tradeassistances. under which the Karakoram Highway had beenidentified for the first phase and Khunjerab-HavelianIslamabadsection of the road was expected to be completedin three years, moreover, CPEC route would be utilized forthe creation of economic and industrial free zones, for whicha fresh economic zone working group would be createdsoon after the upcoming visit to link all the four provinces,AJK, Fata and Gilgit-Baltistan to expand benefits of theinitiative across the country.58Economic DevelopmentChina Pakistan Economic Corridor will help build arobust and stable economy in Pakistan and will create asignificant opportunity for Pakistan to revive its industry andadvance its economic interests. It will also help inovercoming the psychological barriers to flows of foreigninvestment from other sources. Despite its restrictiveeconomic regime, over 150 private equity funds, foreign anddomestic, are active in India. Only three or four such fundsare dedicated to investing government, with the participationof the private sector, to encourage foreign direct investmentin Pakistan is indispensable.59Finance Minister Ishaq Darsaid war phobia can also be defeated through economic CPEC: Challenges and Opportunities for Pakistan 163development. Peace and prosperity can be achieved witheconomic advancement.60This project will go beyond regional ambits to bringabout enormous changes not only to the national economiesof the benefiting states but also to the economics of thepeople at the grassroots level.Balanced environment in South AsiaCPEC is the crown jewel in the new Pakistan economicparadigm because Pakistan has the opportunity to actindependently of the western influence especially the USinfluence as it has proved of late, an irritant factor. CPECProject will also bring an opportunity to Pakistan fornormalization of ties with India, Iran and Afghanistan whichwill keep balance, strengthen prospects of peace andimprove socio-economic status of the people of the region.Removal of povertyCPEC is a game changer project which will lift millionsof Pakistanis out of poverty and misery. The projectembraces the construction of textile garment, industrial parkprojects, construction of dams, the installation of nuclearreactors and creating networks of road, railway line whichwill generate employment and people will also takeownership of these projects. 61Fully equipped hospitals,technical and vocational training institutes, water supply anddistribution in undeveloped areas will also improve thequality of life of people.Peace and prosperity in ProvincesCPEC is not only the name of road, port and railwaysystem but a multi-dollars mega project which will bringpeace and prosperity in all the provinces of Pakistan. Thechairman of the Gwadar port, Dostain Khan Jamaldini saidthat the CPEC would not only benefit Balochistan but alsoprove beneficial for the country’s three other provinces. 164 Pakistan Vision Vol. 16 No. 2Economist Dr Shahid Hassan said CPEC would bring moreprosperity in the whole country and would reduceunemployment in the country. Functioning of Gwadar portwill bring an economic revolution and business activities willget a much needed boost."