ISLAMABAD: Islamabad Chamber of Small Traders (ICST) on Monday said the China-Pakistan Economic Corridor (CPEC) is an important step towards new global economic order which will trigger growth in the third world. The growth potential which CPEC will unleash in the third world countries is contrary to the wishes of the developed western world, which makes the project a threat, he said.
“The western economic model has failed to provide relief to the masses rather it has shifted the resources of poor countries to the western countries, while the Chinese economic model will ensure the development of the third world. The CPEC is an important step towards new economic order dominated by China which will strengthen the Pakistani economy by boosting GDP, increasing exports and providing employment, said ICST patron Shahid Rasheed Butt.
A network of 3,218 km of roads, railways and dry ports from Gwadar Port to Kashgar will enhance the quality of lives of about 3 billion people of this region. It will help China through Pakistan to do trade with other half of the world, he added.
Butt said that this mega project falls into two parts that are transportation and energy. An energy master plan of power generation projects is developed to overcome the energy crises that would benefit Pakistan.
This project will open new business outlets for businessmen from China, Pakistan, and Iran. It will also provide a platform for cooperation in the agricultural sector and will boost the tourism industry of Pakistan, he claimed.
He said that CPEC is a historic opportunity for Pakistan, to place the country on a high growth economy, create jobs, improve and construct critical infrastructure and augment access to energy.
The only thing required is determination to develop right applications and structures as the CPEC has the potential to be one of the biggest economic assets of the future, he added.