Economic corridor to bring prosperity to region

As a pilot project of the Belt and Road Initiative, which focuses on connectivity and cooperation to promote common prosperity, the China-Pakistan Economic Corridor is a win-win proposition for Pakistan and the region. However, the CPEC has faced criticism and negative publicity since its inception from countries that feel threatened by the rise of Pakistan and China. And since investment in future projects depends largely on the assessments of their potential, negative narratives could make it difficult to realize the full potential of the CPEC.

The CPEC will turn Pakistan into a bigger economy (25th largest by 2025 and 20th by 2030). This is the hard reality. More importantly, only an economist can differentiate between a foreign loan and investment and their respective impacts on Pakistan's economy. So it is important to clearly state that out of the $63 billion to be injected into the CPEC, about $48 billion will be in the form of investment in commercial projects by Chinese companies in Pakistan, which will not increase the latter's external debt liability. Which means Pakistan's loan would be only about $15 billion.

Besides, Gwadar Port in Pakistan and its allied infrastructure would bring about a "sea change" in the Arabian Sea. The CPEC will establish all-weather connectivity between Gwadar and Kashgar in China's Xinjiang Uygur autonomous region. And the surrounding areas and the ground are being developed to ensure the CPEC brings prosperity to the region.