China Pakistan Economic Corridor | CPEC
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China Pakistan Economic Corridor |
China Pakistan Economic Corridor | CPEC
China Pakistan Economic Corridor (CPEC)
In April 2015, Chinese President Xi Jingping visited Islamabad to inaugurate the China-Pakistan
Economic Corridor (CPEC), a $46 billion investment in Pakistan’s energy and transportation
sectors. As part of China’s One Belt, One Road (OBOR) initiative.
CPEC is designed to promote
regional connectivity among Pakistan, China, and Eurasia.
What is CPEC?
CPEC is a planned corridor constituting an array of different energy projects,
transportation/infrastructure networks, and economic free zones within Pakistan.
This
investment is part of China’s OBOR strategy, which includes the Silk Road Economic Belt and
the 21st Century Maritime Silk Road.
Components of CPEC?
The largest component of CPEC deals with Pakistan’s energy sector. A total of $ 33 billion – or
approximately 72 % of the proposed $46 billion investment relates to energy-resource
development, including gas and electricity generation through natural resources such as coal.
The 2nd largest component of CPEC is investment in Pakistan’s transportation network.
Specifically, $11 billion – or approximately 24 % of the proposed $46 billion is directed
toward enhancing Pakistan’s transportation infrastructure, including highways and railway
networks.
This includes the construction of a 1,100 km motorway connecting the coastal city of
Karachi (Sindh) with Lahore (Punjab), which is expected to facilitate economic growth and
internal connectivity.
The EXIM Bank, the China
Development Bank, and the Industrial and Commercial Bank of China are among those
providing subsidized concessionary loans to finance these infrastructure projects.
Special Economic Zones (SEZs)
Regional connectivity will be
promoted through the establishment of SEZs aimed at facilitating industrial growth in key
financial centers and strategically significant locations in Pakistan.
A primary example of such
facilitation includes investments in the Gwadar port in Balochistan, Pakistan’s largest province
in terms of surface area.
Approximately 380 km from the Sultanate of Oman, Gwadar’s geographical proximity to the Arabian Sea acts as a conduit for China to gain access to the
Middle East.
In addition, a liquefied natural gas facility capable of transporting 500 million
cubic feet per day to the Gwadar-Nawabshah portion of the Iran-Pakistan gas pipeline is planned
under the corridor.
Challenges for CPEC
1. Security
Pakistan continues to grapple with internal security challenges, with terrorist groups such as Tehrik-i-Taliban Pakistan (TTP) targeting civilian and military institutions.
To ensure security along CPEC, the Pakistan Army has developed the Special Security Division (SSD). The SSD
comprises nine army infantry battalions and six civil armed forces wings for a total of 12,000 troops.
2. Domestic Politics
Pakistan has witnessed considerable
provincial discord regarding CPEC’s proposed route. Given that each of Pakistan’s four provinces is ruled by distinct political parties with diverse views on economic prosperity, provincial disagreements are common.
Much of the discontent has been directed at the central
PML-N government for diverting much of the infrastructure to Punjab, the industrial heartland of Pakistan.
Conclusion
Pakistan’s internal security situation is improving, but this could also constrain
CPEC’s effective implementation.
China’s motives in pursuing CPEC are variegated.
Pakistan views CPEC as a symbol of its supportive relationship with China; thus, its
proper implementation is a national priority.
U.S. and Indian views on CPEC range from outright skepticism to optimism.
On face value, CPEC has great potential to promote greater regional connectivity as
it falls under the OBOR initiative.
#cpec
#cpecroute
#cpechinapakistaneconomiccorridor
#cpecpakistan
China Pakistan Economic Corridor (CPEC)
In April 2015, Chinese President Xi Jingping visited Islamabad to inaugurate the China-Pakistan
Economic Corridor (CPEC), a $46 billion investment in Pakistan’s energy and transportation
sectors. As part of China’s One Belt, One Road (OBOR) initiative.
CPEC is designed to promote
regional connectivity among Pakistan, China, and Eurasia.
What is CPEC?
CPEC is a planned corridor constituting an array of different energy projects,
transportation/infrastructure networks, and economic free zones within Pakistan.
This
investment is part of China’s OBOR strategy, which includes the Silk Road Economic Belt and
the 21st Century Maritime Silk Road.
Components of CPEC?
The largest component of CPEC deals with Pakistan’s energy sector. A total of $ 33 billion – or
approximately 72 % of the proposed $46 billion investment relates to energy-resource
development, including gas and electricity generation through natural resources such as coal.
The 2nd largest component of CPEC is investment in Pakistan’s transportation network.
Specifically, $11 billion – or approximately 24 % of the proposed $46 billion is directed
toward enhancing Pakistan’s transportation infrastructure, including highways and railway
networks.
This includes the construction of a 1,100 km motorway connecting the coastal city of
Karachi (Sindh) with Lahore (Punjab), which is expected to facilitate economic growth and
internal connectivity.
The EXIM Bank, the China
Development Bank, and the Industrial and Commercial Bank of China are among those
providing subsidized concessionary loans to finance these infrastructure projects.
Special Economic Zones (SEZs)
Regional connectivity will be
promoted through the establishment of SEZs aimed at facilitating industrial growth in key
financial centers and strategically significant locations in Pakistan.
A primary example of such
facilitation includes investments in the Gwadar port in Balochistan, Pakistan’s largest province
in terms of surface area.
Approximately 380 km from the Sultanate of Oman, Gwadar’s geographical proximity to the Arabian Sea acts as a conduit for China to gain access to the
Middle East.
In addition, a liquefied natural gas facility capable of transporting 500 million
cubic feet per day to the Gwadar-Nawabshah portion of the Iran-Pakistan gas pipeline is planned
under the corridor.
Challenges for CPEC
1. Security
Pakistan continues to grapple with internal security challenges, with terrorist groups such as Tehrik-i-Taliban Pakistan (TTP) targeting civilian and military institutions.
To ensure security along CPEC, the Pakistan Army has developed the Special Security Division (SSD). The SSD
comprises nine army infantry battalions and six civil armed forces wings for a total of 12,000 troops.
2. Domestic Politics
Pakistan has witnessed considerable
provincial discord regarding CPEC’s proposed route. Given that each of Pakistan’s four provinces is ruled by distinct political parties with diverse views on economic prosperity, provincial disagreements are common.
Much of the discontent has been directed at the central
PML-N government for diverting much of the infrastructure to Punjab, the industrial heartland of Pakistan.
Conclusion
Pakistan’s internal security situation is improving, but this could also constrain
CPEC’s effective implementation.
China’s motives in pursuing CPEC are variegated.
Pakistan views CPEC as a symbol of its supportive relationship with China; thus, its
proper implementation is a national priority.
U.S. and Indian views on CPEC range from outright skepticism to optimism.
On face value, CPEC has great potential to promote greater regional connectivity as
it falls under the OBOR initiative.
#cpec
#cpecroute
#cpechinapakistaneconomiccorridor
#cpecpakistan
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در تاریخ 1403/03/15 منتشر شده
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