Pakistan and China have been known to collaborate strategically and politically, which has been beneficial for both parties. This bilateral collaboration between the two countries has expanded over the years and has branched out economically as well. The success of this alliance is signified by the development of the China-Pakistan Economic Corridor, also known as the CPEC.
This innovative collaboration is well-received by both nations because of the mutual benefit. The large-scale initiative of CPEC is developed in order to build energy, highways, and infrastructure in Pakistan. And this is further working towards making sure that the economic connection between the two countries is profound and beneficial.
However, CPEC latest news suggests that it is now focusing more on Pakistan’s “Social Development.” China and Pakistan are investing in health, agriculture, hydro-energy generation, housing, and most notably in the development of social-economic zones. All of this is going towards ensuring economic stability in Pakistan along with providing several benefits.
Here are some of the notable benefits Pakistan has received since the development of CPEC.
Quaid-e-Azam Solar Power Park
The collaboration of Pakistan and China’s governments has led to the development of the largest power plant in Pakistan, The Solar Power Park in Bahawalpur. This 100 MW plant is responsible for producing several jobs and is the cleanest and most reliable energy source in Pakistan. The innovative solar power project has become the largest solar power producer and exceeded all energy production expectations. It surpassed the intended energy production in 2015 by 4.43% and 5.48% in the year 2016.
$4.8 Billion Spent In Developing Gwadar
China has actively spent a sum of $4.8 Billion in developing the busiest South Asian shipping port in Gwadar. It is expected to generate a massive amount of traffic by 2022. Gwadar is in the works of becoming a major port that will link China with Central and South Asian markets. By 2023, several thousand professionals are expected to arrive in Gwadar. It will be the primary trade hub for the entire continent, all thanks to the Chinese investments and CPEC.
Lahore Line Metro Train
This unique and innovative project will be complete in the upcoming months to connect one end of Lahore to the other. The Chinese-funded project, Lahore Line Metro Train, will contribute to drastically improving the infrastructure of Pakistan. It will cater to more than 250,000 passengers daily, generating an extremely healthy income for the government of Pakistan.
2,000 km Of Rail And Road Networks
CPEC’s main focus of interest goes towards the infrastructure of Pakistan that leads from North to South along the economic corridor. This 2000 kilometer rail and road network connects Kashgar, China, to Gwadar, Pakistan, ensuring a more efficient route for the public and the investors. The economic benefits of this network will not only be for Pakistan but also for China. However, if we talk about Pakistan, this project is expected to bring more than $2 billion in revenue to the economy of Pakistan every year.
Construction Of 19 Power Plants
Out of the total investment of $46 billion, Chinese firms and companies are investing $35 billion in the development of 19 power plants in Pakistan. It is a considerable investment but promises to bring more than 12 thousand MW of energy to Pakistan. These plants have the potential of solving Pakistan’s energy crisis in a concise period of time.
With the continued partnership of Pakistan and China, it is possible that Pakistan can economically prosper once again. CPEC has proved time and time again that it can be mutually beneficial for both nations and the continued growth only proves it further.
Keep reading the Pakistan Observer for the latest CPEC updates daily.