China-Pakistan Cooperation: Major joint economic project CPEC boosts employment & infrastructure

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02:13

It has been five years since the launch of the China Pakistan Economic Corridor. Pakistan says it has injected energy into the country's development and benefited the people. Many observers believe China will play a key role in helping Pakistan deal with the numerous challenges it faces. Danial Khan has more.

Pakistan's biggest challenge at this time is its unstable economic situation. Poverty is on a rise and so is unemployment.

China, with its One Belt One Road Initiative, is helping finance infrastructure projects, mainly in the form of loans.

DANIAL KHAN ISLAMABAD "The multi-billion dollar CPEC has been met with mixed reactions in Pakistan. Many believe that the lion's share of the project will go to China, but the newly formed government led by Imran Khan is optimistic about the Chinese investment, hoping it will help create job opportunities and reduce unemployment."

China has pledged 62 billion dollars toward projects in Pakistan for the venture. Those projects include infrastructure development, industrialization, fiber-optic connectivity, railways, airports and power generation.

AHSAN IQBAL NATIONAL ASSEMBLY MEMBER "In the last five years we have been able to fix the energy crisis and also with the help of China-Pakistan Economic Corridor projects, we are also in the middle of building a very modern infrastructure, through CPEC in Pakistan."

A number of so-called 'Early Harvest' projects, including motorways have been completed and the rest are in an advanced stage of completion.

Power generation projects have contributed over 10,000 megawatts to the national grid. Development of the Gwadar port is moving ahead swiftly –and the port is already partially operational.

According to official statistics, more than 30,000 new jobs have been generated under CPEC projects for Pakistanis, and it is expected that more than one million new jobs will be created by 2030.

And many here hope to see Imran Khan's government ensuring the continuity of the projects, while facing Pakistan's substantial challenges. Danial Khan, CGTN, Islamabad.