CSS Pakistan Affairs | The Economic Prospects of CPEC
The following question of CSS Current Affairs is solved by Khirman Batool under the supervision of Howfiv’s Pakistan Affairs and Current Affairs Coaches. She learnt how to attempt 20 marks question and essay writing from Sir Syed Kazim Ali, Pakistan’s best CSS and PMS English essay and precis teacher with the highest success rate of his students. This solved past paper question is attempted on the pattern taught by Sir to his students, scoring the highest marks in compulsory and optional subjects for years, and uploaded to help aspirants understand how to crack a topic or question, how to write relevantly, what coherence is, and how to include and connect ideas, opinions, and suggestions to score the maximum.
Outline
1-Introduction
2-Current situation of Pakistan and CPEC
3-How CPEC would bring economic prosperity for Pakistan.
- ✓ Developing human capital
- Case in point: For instance, under CPEC, 6500 Acres of land is reserved in Rahim Yar Khan Agricultural and Technology Transfer Project for imparting modern technological skills to the farmers, meeting the needs of the hour
- ✓ Alleviating poverty through agricultural development Projects
- Case in point: According to the Ministry of Planning, Development & Special Initiatives, There are multiple agricultural projects under CPEC, that would enhance agricultural production, processing, storage quality, and transportation by using innovative and new methods, boosting the country’s economy
- ✓ Providing transit trade route by Gwadar project
- Case in point: Pakistan must apply tax on transit routes; the country would generate revenue, and its economy would prosper.
- ✓ Ensuring economic prosperity through Industrial projects
- Case in point: CPEC would promote the industrial capacity cooperation in sectors, such as chemical & pharmaceutical, engineering goods, iron & steel, light manufacturing & home appliances and construction materials to meet the demands of Pakistan’s local markets and at the same time to further expand it to the international market
- ✓ Promoting tourism in the country
- Case in point: The improved and well-serviced tourist areas would grab the public attention of indigenous and international people and generate revenue for the country.
- ✓ Developing Infrastructural development
- Case in point: A network of roads between Kashgar-Islamabad, Peshawar-Islamabad-Karachi, Sukkur-Gwadar Port and Dera Ismail Khan-Quetta-Sohrab-Gwadar would decrease transportation costs and service levels of goods, expanding their traffic capacity.
- ✓ Installing new Energy projects
- Case in point: Completion of the energy projects under CPEC would increase Pakistan’s indigenous energy production, leading towards an industrial boost.
- ✓ Creating job opportunities in the country
- Case in point: According to Ahsan Iqbal, the Minister of Planning, Development & Special Initiatives, “CPEC would bring economic boost for the country, and it would reduce inflation in the country by creation of millions of jobs.”
4-Conclusion
Answer to the Question
Introduction
The China-Pakistan Economic Corridor is a flagship project of the Belt and Road Initiative. The project is worth 62 billion dollars and was established on 20th April 2015. The economic corridor has several projects, including energy projects, agricultural projects, industrial projects, infrastructure development projects, and improving trade and economy of both countries. Moreover, CPEC would assist in human capital development by instilling vocational and up-to-date skills in the indigenous people of the country. Additionally, it would bring Pakistan to the centre of attention for tourism. Under CPEC, multiple projects would create job opportunities that would decrease inflation in the country, leading it towards economic prosperity. Thus, CPEC is a golden opportunity for Pakistan towards its economic stability and prosperity.
Current situation of Pakistan and CPEC
The country’s economy has been much improved. Pakistan has reached wide consensus on social stability, economic development and livelihood improvement, a series of economic reform. But there are still hopes as currently CPEC is running in its phase-II, which is its initial strive, and major bottlenecks to Pakistan’s economic and social development shall be addressed in near future, so economic boost for the country would occur.
How CPEC would bring Economic Prosperity to Pakistan
- Developing human capital
Besides the installation of different projects under CPEC, the corridor is also working on development organizations that would impart vocational skills to individuals. It strengthens social and economic development cooperation within the CPEC and makes efforts to carry out vocational training in Pakistan. For instance, under CPEC, 6500 Acres of land is reserved in the Rahim Yar Khan Agricultural and Technology Transfer Project for imparting modern technological skills to the farmers, meeting the needs of the hour. Moreover, the Academy of Central Asia Regional Economic Cooperation under CPEC is providing multiple capacity-building and training projects, enhancing skills and assisting in the development of human capital for the country. And development of human capital leads the country towards efficient human resources, which results in economic prosperity.
- Alleviating poverty through agricultural development Projects
CPEC would strengthen agricultural infrastructure along with skill-instilling agricultural personnel training programs and technical exchange and cooperation. According to the Ministry of Planning, Development & Special Initiatives, “There are multiple agricultural projects under CPEC that would enhance agricultural production, processing, storage quality, and transportation by using innovative and new methods, boosting the country’s economy.” The projects are based on biological breeding, production, processing, storage and transportation, infrastructure construction, disease prevention and control, water resources utilization, and marketing of agricultural products. The projects include the NPK fertilizer plant, meat processing plant, storage bases, vegetable processing plants, and cotton processing plants. Moreover, the methods would bring a shift in traditional agricultural practices towards modern practices. This would boost agriculture production and improve storage practices and transportation of crops, which would increase the trading of agricultural products; thus, the economy would be boosted.
- Providing a transit trade route through the Gwadar project
Gwadar Port is the main plank of CPEC. It would act as a hub and transit route for international trade. Gwadar port is of critical importance due to its strategy. The port is near the Strait of Hormuz, from which almost 70% of international trade occurs. Moreover, by applying a tax on transit routes, the country would generate revenue, and its economy would prosper. The port provides access to Persian Gulf energy resources, and Pakistan’s geostrategic location would trigger its neighbouring countries to sign agreements for using Gwadar as a transit route, like the APTTA signed by Afghanistan. Thus by providing transit routes, Gwadar would add a brick towards the county’s economic prosperity
- Ensuring economic prosperity through Industrial projects
CPEC is constructing 9 Special Economic Zones in Pakistan, which include industrial parks and industrial zones, that would boost the country’s economy by improving international trade. The zones include Rashakai SEZ, Dhabai SEZ, Allama Iqbal Industrial City, Boston SEZ, and Industrial Park for Pakistan Steel Mill land. The zones would impart economic independence to the country by expanding cooperation in industry and promoting Pakistan’s industries, from assembling imported parts and components to localized production of parts. Moreover, it would promote industrial capacity cooperation in sectors, such as chemical & pharmaceutical, engineering goods, iron & steel, light manufacturing & home appliances and construction materials, and use efficient, energy-saving and environmentally friendly processes and equipment to meet the demands of Pakistan’s local markets and at the same time to further expand it to the international market. Thus, all nine SEZ would bring opportunities for Pakistan’s economy.
- Promoting tourism in the country
The potential advantages of the tourism resources under CPEC would boost the economy of both countries. There should be tourist points, especially the China-Pakistan border areas, and comprehensive development of the coastal areas. Moreover, the improved and well-serviced tourist areas would grab the public attention of indigenous and international people and generate revenue for the country. The probabilities of better tourist points include Karachi Port and Gwadar Port as the two centres, the coastal tourism belt as the development axis, and five tourist zones: Jiwani & Gwadar tourism zone, Jhal Jhao, Ormara, Sonmini and Keti Bander. Thus construction of tourist spots under CPEC would boost Pakistan’s economy by generating revenue for the country.
- Developing road Infrastructure
Moreover, infrastructure development leads towards decrease in transportation production. And infrastructural development under CPEC are networks of roads, railways, motorways, highways and pubic transport. All the road connections decreased the transportation cost of trade goods, leading towards economic prosperity. For instance, a network of roads between Kashgar-Islamabad, Peshawar-Islamabad-Karachi, Sukkur-Gwadar Port and Dera Ismail Khan-Quetta-Sohrab-Gwadar would enhance road safety and service levels and expand traffic capacity for goods. Moreover, the expansion of existing railway lines (specifically ML-1 and construction projects promotes the modernization of the railway and builds an integrated transport corridor between both countries. Thus, infrastructural development would lead towards a reduction of transportation costs and an improvement of trade in the country.
- Installing new Energy projects
CPEC would reduce the expense of the country for importing expensive energy. Under CPEC, there are multiple renewable and renewable energy projects which would meet the need for electricity in the country after their operation. The projects include solar power plants, hydropower plants, wind power plants and coal power plants. After the completion of the energy projects, Pakistan’s indigenous energy production would increase, leading towards an industrial boost. The projects include Quaid-e-Azam Solar Park, Diamer Bhasha Dam, Karot Dam, Dawood Wind Power Plant, Pacho Wind Power Plant, and Sahiwal coal projects, which would lead to the industrial growth of the country. Thus, the energy projects of CPEC would incorporate industrial growth, leading towards the economic progression of the country.
- Creating job opportunities in the country
CPEC would produce more job opportunities in Pakistan as multiple projects are operating under CPEC. After completion of the projects, China would hand over projects to Pakistan, and it would create boosted opportunities in multiple sectors, like the industrial area, energy sector, and health sector. According to Ahsan Iqbal, the Minister of Planning, Development & Special Initiatives, “CPEC would bring economic boost for the country, and it would reduce inflation in the country by creation of millions of jobs.” Moreover, the corridor has already created 70,000 jobs before its completion. Thus, after the completion of the projects under CPEC, the country would move towards economic prosperity with a reduction of inflation and an improvement in job opportunities in Pakistan.
Conclusion
CPEC is a flagship project of China’s BRI. It has marked its foot in Industrial growth, Energy production, infrastructure development, and agricultural economy, leading towards economic boon of the country, and there is still a lot more to go. In the near future, it would also aid in the generation of revenue through tourism, producing job opportunities, and reducing the inflation rate of the country. All in all, Pakistan’s geography has boosted the economic prospects of the corridor as it is land of renewable, non-renewable resources, and it also provides transit trade route of the country.
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