CPEC

CEPEC stands for china Pakistan economic corridor. It's actually a 3000km framework, development corridor between china and Pakistan to reduce energy transport passway for china and economic development in Pakistan. In 2013, an economic corridor development was announced by China President Xi Jinping. After the visit of Chinese President in states of Pakistan, they decided to create a project named CPEC. Finally, both Pakistan and China signed an agreement of $46 billion investment for this project in 20th April 2015. 

Aim of CPEC

(Some report that It's $58 billion Project) 

Now the question arises what is the purpose of CEPEC? The main objective of this project is to strengthen economic conditions of both countries. Basically, China import oil and other energy resources from Central Asia or Africa which shows two kinds of demerits. First one is it take too long distance, expenses and other transport issues for china to import oil. Second reason is that import system has to pass through Malacca Straits which is near Singapore (city of USA). China has a fear of blockage of this strait in case of War. That's why, China decided to create another and shortcut corridor to import energy resources from Central Asia and Western Asia.

After visit of Xi Jinping in Pakistan, he observed that there's port in Karachi named Gawaadar which can resolve China's oil Transport Issue. China president signed to invest $46 billion to improve destructive infrastructure of Pakistan and let Pakistan to provide an economic corridor From Gawaadar in Karachi Province of Baluchistan to Kashgar in Xinjiang. Both countries agreed for this project. 

Benefits of CEPEC

According to reports, it's estimate that CEPEC will increase 2 to 2.3 million jobs opportunities for Pakistani and 2 to 2.5 % addition to our Annual population development economy. In addition, we can get a lot of benefits through CEPEc including improvement in destructive infrastructure of railways, roads, energy production, motorways, and other industrial revolution. 

Pakistan needs 6000MW energy and CEPEc is expected to provide more than 10,000MW energy between 2022 to 2030. China signed to invested $46 billion which will help us to bring prosperity and an economic change in Pakistan. It will also proved fruitful for Iran, Afghanistan, India, Bangladesh, Sri Lanka and other countries. 


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