China Pakistan Economic Corridor

Introduction: China Pakistan Economic Corridor (CPEC) is the 40 billion dollars investment in Pakistan by Chinese government. The project is part of umbrella program known as One Belt One Road (OBOR) initiative which will connect China to three major continents (Africa, Europe, and Central Asia) through sea, air, and land. Under CPEC, China has invested in multifarious projects such as, Power generation projects, interconnectivity, developing industrial and economic zones, roads, and railway lines etc which will help Pakistan in transforming, and developing itself from fragile to sustainable emerging economy in South Asia in next few years. The paragraph explores and discusses some key challenges and opportunities for Pakistan with China Pakistan Economic Corridor. Opportunities: CPEC brings number of opportunities for Pakistan and a number of of those are discussed in this section. Firstly, there is the economic development opportunity. Pakistani government can utilize Chinese investment as a way to improve the social sectors and create business friendly environment for attracting the foreign investments in the country which will result in enhancement of the country’s economy. Also, with industrialization and establishment of business, more employment opportunities will be created and socioeconomic standing of people will alsoimprove. Secondly, Pakistan can bring domestic stability and countering terrorism through CPEC with creation of employment opportunities and livelihoods for poorest segments and regions of the country which are deprived of their political and socio economic rights and as a result have been involved in militant activities to raise their concerns For example: Balochistan is one of the poorest province in the country and since long been a battleground between the nationalists who have raised voices for political and socio economic injustices and has been involved in clashes with state of Pakistan as method of protest for their deprivation. As CPEC is developing the port city in Gawadar, one of the regions of Baluchistan. Government of Pakistan could use this opportunity by integrating Baloch populations in the development and raising their socioeconomic status by providing them more opportunities; As a result of this policy Pakistan can bring domestic stability in the country for future development. Lastly, CPEC can deliver a regional peace and stability among the Asian countries especially, Pakistan, India, China, Srilanka, and Afghanistan etc through interconnectivity and engagement in full trade benefits. Challenges: The CPEC project brings number of opportunities but with opportunities, there are numerous challenges faced by Pakistan which are important and need to be addressed effectively and efficiently to gain full benefit from this initiative. Some of these challenges are discussed below. One of the first and foremost challenges Pakistan is facing is the political instability and poor governance in the country which can become hindrance in achievement of full potential and benefits of this program to larger chunk of society. Government of Pakistan must improve its governance system and try to make it efficient, effective, and transparent as possible. Second challenge for Pakistan would be the security and peace maintenance which is always under attack in the regions of Balochistan and merged areas of FATA due to existing militant and terrorist organizations. Conclusion: China Pakistan Economic Corridor provides enormous opportunities such as, expansion of its economy, domestic stability and regional peace and integration. Along with the opportunities there are challenges faced by Pakistan such as, Political instability and Poor governance, Security and terrorism issues. If these issues can be resolved, Pakistan can gain huge benefits from the luxuries CPEC brings for Pakistan.