Staff Report
ISLAMABAD: The China Pakistan Economic Corridor (CPEC) is gaining momentum with every passing day of Pak-China relationship, because of which the project would continue with more strength in days ahead.
With the smooth sailing of CPEC project, Pakistan is foreseeing massive economic activity during days ahead. An appreciable outcome of a novel Belt and Road Initiative (BRI) of the Chinese government, Pakistan becomes the key player in the regional economic activity. Commenting with respect to the 70th celebrations of Pakistan-China diplomatic relations, an official in CPEC Authority requesting not to be named, exclusively told media that the mega project would further strengthen the bilateral relations with China.
Their strategic relationship, which was being strengthened with every passing day, was of great importance both on regional as well as international fronts, the official said.
This project would not only earn billions of dollars revenue through trade but also generate thousands of jobs for the local people besides infrastructure development, power generation and projects in transportation, railways, agriculture, science and technology and tourism sectors.
One key outcome of the CPEC is the construction of Special Economic Zones under construction across the country through Pak-China joint venture.
Keeping in view the importance of the project, number of other countries had also been showing interest off and on, to invest in the project. The economic activity in the country is gaining momentum after the commencement of second phase of China Pakistan Economic Corridor (CPEC) that largely consists of industrial cooperation.
Although the Special Economic Zones (SEZs) planned under the umbrella of China Pakistan Economic Corridor (CPEC) are basically meant to relocate Chinese industry and investment but both the countries have already offered third party participation in the mega project.
