LAHORE: Punjab University’s (PU) Vice-Chancellor Professor Dr Zaffar Mueen Nasar said on Saturday that the China-Pakistan Economic Corridor (CPEC) will benefit the entire region in addition to bringing social, economic and political benefits to Pakistan.
Talking to a group of students at the Punjab University’s CPEC centre, the vice chancellor said that the CPEC will bring many economic benefits to China, Pakistan, Russia, Central Asia and other South Asian countries through trade, investment and people-to-people contact.
He further said that the CPEC was likely to promote regional peace by attracting other South Asian countries to participate in the economic activities and sharing in the economic benefits it brings.
“In this context, Afghanistan, Pakistan and India, with support from China, Russia, Central Asian Republics (CARs) and other South Asian countries, might get convinced to seek peace in the region by resolving the disputes between them,” he added.
He further said that our region has witnessed a lot of conflict and deprivation in the past. “The time has come to turn a new leaf in the history of the region by bringing peace and prosperity and addressing the challenges of poverty, unemployment and underdevelopment,” he added.
Talking about the decline of export volume in Pakistan, he said that the CPEC would provide a network of roads and railways to link remote manufacturing facilities to Karachi and Gwadar seaports, reducing both transportation costs and travel time. This will not only enhance existing firms’ competitiveness, but also incentivize exports.
He said further that the project will also expand Pakistan’s portfolio of export products. For instance, the fruits and vegetables produced in Pakistan’s northern areas do not get exported due to a lack of good connectivity. The CPEC will link the northern areas to airports in Peshawar, Rawalpindi and Lahore, which will boost the exports of agricultural commodities.
CPEC will also address Pakistan’s energy crisis as projects worth $35 billion are envisaged in Pakistan in the energy sector, he further said, adding that Pakistan has much to gain from the expertise, knowledge and experience of the Chinese industry.
“The establishment of the zone in remote areas will bring employment and growth to the downtrodden and undeveloped areas of the country, thus reducing poverty,” Dr Nasar observed.
With promises of enhanced geographical linkages, improved road, rail and air transportation systems, increased people-to-people contact, cultural and intellectual exchange, and high volumes of trade and business, the vice chancellor called CPEC a “win-win model”.