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Is Pakistan Emerging As An Economic Hub?

November 1, 2016 at 4:46 am

Written By: Aqsa Rajput

Pakistan’s history shows that our country had remained center of interest for all big powers and played distinct role in global politics due to its geographical location and now it is becoming an economic hub in Asia after signing Pak China economic corridor. CPEC or China- Pakistan
economic corridor will play important role in this regard not only in political point of view but also in economic prospect. According to economic survey China invests $ 46 billion in Pakistan, which will increase Pakistan’s economic
growth yearly 2.% to 2.5% and could generate 700,000 employment opportunities directly and more than 200,000 indirectly.
On the other side China by making Pakistan as hub could exceed to the Middle east , Gulf states , African, Persian and central Asian markets and can cargo its trade within 10 days by Arabian sea despite 45 days from Europe which is a potential threat for China’s economy. However with the inclusion of two worlds largest oil exporter countries ‘Saudi-Arabia’ and ‘Iran’ CPEC has achieved new heights because both have significant importance in Muslim states and have good relations
with Pakistan.
This participation will open new doors for Pakistan which is receiving a lot from this mega project at its initial stages. By this inclusion Pakistani can avail manyopportunities in China , Saudi Arabia ,Central Asia,Gulf states and
Middle East . Rich oil resources of both Muslim states can lessen Pakistan energy short fall. Pakistan can trade with Iran after reduction in international restrictions and can complete Pak -Iran ‘Peace gas’ pipe line successfully.  Pakistan can also perform the role of an arbitrator to
reduce Saudi -Iran tension . If both states will manage to minimize tension and could ignore proxy wars people ofthis entire region will get many benefits from this project.    So this CPEC corridor is very important economically as well as politically for
Asia

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