China-Pakistan Economic Corridor (CPEC): Benefits and Implications

Tayyaba  Syed; Maj ( R) Nazir Hussain  Shah; Syed Waqas Haider  Bukhari; Nasir  Abbas

Tayyaba Syed Department of Management Sciences, Virtual University of Pakistan (Islamabad Campus)
Maj ( R) Nazir Hussain Shah IR Department, LGU, Lahore, Punjab, Pakistan.
Syed Waqas Haider Bukhari Assistant Professor, I R Department, LGU, Lahore, Punjab, Pakistan.
Nasir Abbas I R Department, LGU, Lahore, Punjab, Pakistan.

Abstract

China-Pakistan Economic Corridor (CPEC) is a by-product of China’s One Belt One Road (OBOR) initiative, its impact on Pakistan’s economy as well as regional prosperity; unification and integration are very obvious. Pakistan’s physiography placed her at the junction of South Asia, West Asia, Central Asia and Western China. She is seated in a region which is strategically significant for world trade. Pakistan provides the shortest route to China towards Middle Eastern and the European countries and plays a vital role in transit economy. Wise policy decision in the light of recommendations of think tanks and academic would evaluate Pakistan to overcome the challenges and exploit the opportunities. Pakistan’s proximity to Central Asia which has the potential to become hub of economic activities, pipelines and corridor as well as cross cultural interactions places it in a unique position. After commissioning of Gawadar port, the shipping cost is going to be reduced and delivery timing will be cut short. There are certain grey areas which needs more focus and detailed elaboration like transfer of technology under CPEC and jobs quota. Benefits and Implications are also highlighted in this article.