PBIT

The strategic ties between Pakistan and China have been on an upward trajectory with a visible revolutionary economic interaction after the commencement of China Pakistan Economic Corridor (CPEC) Project. CPEC is a multidimensional revolution, which is going to end years of economic isolation of Pakistan as well as tackling two major issues of unemployment and poverty. These issues have not only daunted Pakistan’s growth but resulted in reduced GDP over the years. CPEC, therefore, going to escort in a new epoch of fortune, prosperity, speedy industry development, increasing trade volume and elevation of the country to economic stability. To reap the optimal gains of CPEC, it is imperative to evaluate and realize the potential of our region in the various sectors, including spatial planning, industrial parks, and agriculture and water resources. 

Punjab has a huge potential to take the lead under CPEC. This is primarily due to Punjab’s conducive business environment in terms of its suitable geography, its sustainable law and order situation, the high Human Development Index of its population and its cultural diversity and dynamic leadership. With respect to CPEC, Punjab is promoting this project at both local and international forums. The CPEC offers one of the most advantageous opportunities to make the future of our next generation better through overall socio-economic progress. The government of Punjab has formulated a blueprint of the provincial planning and implementation mechanism for CPEC. This has been done to ensure the provincial departments concerned can put into place a robust implementation and monitoring framework to make CPEC a success story. The salient features of the planning and implementation mechanism for CPEC include establishing provincial steering committees, CPEC unit/nodes in all concerned departments and sectoral working groups. Currently, the Punjab government has been successful in identifying two sites to establish special economic zones. One of the sites is situated near Quaid-Azam Apparel Park on the M2 while the other is near Faisalabad on the M3. An additional project, titled ‘Iron Ore Mining, Processing and Steel Mills Complex at Chiniot’, has already been approved for implementation by the JCC. Furthermore, the proposals have been made to identify potential sites in Punjab to establish industrial parks, relocate Chinese industries and establish a mineral development zone. Under CPEC, government would be able to complete mega projects in South Punjab like Multan-Sukkur Motorway, Solar Park, IT Parks, Multan-Faisalabad Motorway, Power Transmission Line, and up-gradation of main railway lines, while Multan Metro Bus project of Rs 28.88 billion has already been inaugurated. These mega development projects would not only strengthen the infrastructure of the country but also help in overcoming the issue of unemployment by creating scores of job opportunities for youth which ultimately would improve the socio-economic condition of the people.