Saturday, 8 December 2018
Friday, 7 December 2018
Essay On - CPEC (China - Pakistan Economic Corridor)
CPEC
China - Pakistan Economic Corridor
1-CPEC:
CPEC (China Pakistan Economic Corridor) is an economic corridor between China and Pakistan. Establishment of China-Pakistan Economic Corridor (CPEC) was first proposed by chinese Premier Li Keqiang during his visit to Pakistan in May 2013.The proposed project of linking Kashgar in northwest China with Gwadar Port on Arabian Sea coastline in Balochistan was approved on July 5, 2013 during the visit of PM Nawaz Sharif to Beijing.Which included construction of 200 km long tunnel.
2-China's investments:
In December 2013, China committed $6.5 billion for the construction of a major nuclear power project in Karachi. In May 2014, another agreement was signed to supplement Orange Line metro train project in Lahore worth $1.27 billion.In November 2014, the two countries signed 19 agreements related to CPEC. In addition, Chinese firms started work on six mega power projects in Gilgit -Baltistan such as Dassu, Phandar, Bashu, Harpo, Yalbo to tackle Pakistan's energy crisis.
3-Quest for Warm Water:
Mindful of the under development of its western provinces which are its soft belly and ongoing Uighur movement, China wants speedy modernization of Xingjiang and other under developed provinces to bring them at par with eastern provinces. For the accomplishment of these dreams. China needs access to warm water in Arabian Sea through Gwadar since this route to world markets is the shortest and the cheapest. This access was never granted to Russia.
4-Visit of President Xi Jinpink:
With this objective in view, President Xi Jinping visited Islamabad on April 20-21,2015 and raised the level of investment from $26 billion to $46 billion.He signed 51 agreements MoUs worth $28 billion, with $17 billion in pipeline spread over 15 years. His visit achieved the milestone of the groundbreaking of historic 3,000 km-long strategic CPEC.
5- Projects in Hand:
It includes $33 billion worth energy projects such as coal, solar, hydroelectric power projects which will inject 10,400 MW electricity in the national grid by 2017 / 18, and hydro power projects. Other projects are fibre optic cable from Xingjiang to Rawalpindi, 1240 km long Karachi-Lahore motorway, metro and bus service in six major cities, up-gradation of 1300 km long Karakorum Highway, oil / gas pipelines to connect Kashgar to the seaport of Gwadar, 1,800-km railway line, commercial sea-lanes,special economic zones, dry ports and other infrastructure.
6- Route:
Three routes have been marked :-
1- Western route originating from Gwadar will pass through Turbat, Panjgur, Naag , Basima, Sohrab, Kalat, Quetta, qila Saifullah, Zhob DIK , Mianwali , Hasanabdal, Islamabad .
II- Central route will originate from Gwadar , Quetta and reach DIK via Basima, Khuzdar , Sukkar , Rajanpur , Liya , Muzaffargarh , Bhakkar , DIK .
III- Eastern route will include Gwadar , Basima , Khuzdar , Sukkar , RYK , Bwp , Multan , Lahore/Faisalabad , Isb , Mansehra.
CPEC is considered economically vital to Pakistan in helping it drive economic growth. The Pakistani media and government have called CPEC investments a "game and fate changer" for the region, which would be one of the largest ever sums of foreign direct investment into Pakistan. As a result of improved infrastructure and energy supplies,the Pakistani government expects that economic growth rates will reach 7% by 2018. China Pakistan Economic Corridor is hope of better region of the future with peace, development and growth of economy.
Thursday, 6 December 2018
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