KHAIRPUR: A One-Day National Seminar on the “Geographical Importance of China-Pak Economic Corridor (CPEC) and its Impact on the Economy of Pakistan” was held at Shah Abdul Latif University, Khairpur, organized by the Department of Geography. Prof. Dr. Mumtaz Hussain Mahar, Dean, Faculty of Physical Sciences said that the China-Pak Economic Corridor (CPEC) is a revolution in the field of finance. “Under CPEC, China would invest 46 Billion in Pakistan for the development of transportation and the energy sector. If CPEC is utilized properly, it will extend the economy of Pakistan 3 to 4 times,” he said.
Prof. Dr. Ahsanullah Khattak, Department of Geography, University of Peshawar said that the One Belt One Road (OBOR) initiative covers countries and regions with a total population of 4.4 billion and a total economic volume of US$ 21 trillion, 63 percent and 29 percent respectively of the World’s total. CPEC is the foundation for regional cooperation, improving economic growth, offering trade diversifications, investing in transportation, mining and energy sectors and creating political flexibility.
The completion of Gwadar Port would make it the economic hub of Balochistan and create a strategic nexus between Pakistan, China and Central Asia, generating billions in revenue and providing shorter land routes up to approximately 10,000 km. It would provide links from the Caspian Sea to the Straits of Hormuz, and enable Gwadar to compete with Persian Gulf ports. Dr. Khattak pointed out the constraints of the project. He remarked that the Provincial Assembly of Khyber Pakhtunkhwa province adopted a resolution against the alleged decision of the central government to change the multibillion route of the proposed project by diverting it from the northwestern province of Khyber Pakhtunkhwa.
In addition, some local Baloch nationalists have expressed disappointment at the project, noting the difficult economic conditions of Gwadar residents and saying that any such development would deny locals control over their native resources.
