What is economic corridor? Economic corridors are integrated networks of infrastructure within a geographical area designed to stimulate economic development. Corridors may be developed within a country or between countries. Corridors exist in Asia, Africa, and other areas.
After economic corridor now comes to what is Growth Corridor Plans? The Growth Corridor Plans set the strategic direction for future urban development of land that was included within the Urban Growth Boundary (UGB) as part of its 2010 review. The plans identify areas for housing, employment, transport, town centers, open space and key public infrastructure.
China–Pakistan Economic Corridor is a collection of infrastructure projects that are currently under construction throughout Pakistan. Originally valued at $46 billion, the value of CPEC projects is now worth $62 billion.
The CPEC is an ongoing development mega project which aims to connect Gwadar Port of Pakistan to China’s northwestern region of Xinjiang, via a network of highways, railways and pipelines. The economic corridor is considered central to China–Pakistan relations and will run about 2700 km from Gwadar to Kashghar.
CPEC has a major portion in Pakistan and a small portion in China. Basically, the transportation network of roads and railways connecting the city of Kashgar, located in the Xinjiang province of China, to the China-Pakistan Border is the part of CPEC in China.
In this mega project very important part is Gwadar. Gwadar forms the crux of the CPEC project, as it is envisaged to be the link between China’s ambitious One Belt, One Road project, and its Maritime Silk Road project. In total, more than $1 billion worth of projects are to be developed around the port of Gwadar by December 2017. Now this is very important to know how Gawadar became a part of Pakistan. On 7 September 1958, after four years of negotiations, including six months of intense negotiations, Pakistan purchased the Gwadar enclave from the Sultanate of Muscat and Oman for USD $3 million. Gwadar formally became part of Pakistan on 8 December 1958, after 174 years of Omani rule.
As per the plan, the first phase of the CPEC is scheduled to be completed sometime during 2017-18. The second phase of this long-term, broad framework, multiple sector project will be completed by 2020 and the phase will be accomplished by 2030.
In the past few days report like CPEC frozen circulate everywhere. This news come from Financial Times published report, in which quoted that Pakistan’s advisor on commerce, Abdul Razzak Dawood as saying that the multi-billion dollar economic corridor had put local companies at a disadvantage and that parts of the flagship project can be renegotiated or even frozen for a year. After this report, Pakistan and China have reacted angrily to a report in the London-based Financial Times (FT) newspaper that quoted some cabinet ministers as saying that Islamabad is considering renegotiating some agreements signed with Beijing under the multibillion-dollar One Belt, One Road (OBOR) initiative.
Soon after the report was published, Dawood said parts of his interview had been taken out of context. He said he would present a clarification in the evening. “I run the risk of being misquoted once again if I present one right now,” he said.
Moreover, Abdul Razak Dawood, the adviser to the prime minister on commerce and textile, was quoted as saying by FT in an interview. “The previous government did a bad job negotiating with China on China-Pakistan Economic Corridor (CPEC) , they did not do their homework correctly and did not negotiate correctly so they gave away a lot,” Hours later, the commerce ministry issued a public rebuttal to the report. It said the news item was premised on “out of context” statements.
The document “rejected the report especially its title”. The ministry said both Pakistan and China had reiterated their “all-weather strategic partnership” and reaffirmed commitment to CPEC during foreign minister Wang’s visit.
“Pakistan reassured the Chinese side that CPEC is a national priority. China also highlighted the significance of CPEC… There is complete unanimity on the future of CPEC.”
In a statement, the Chinese Embassy said, “We have taken notice of the report in Financial Times regarding remarks by the Honorable Adviser Razak Dawood on the CPEC as well as the clarification by the Ministry of Commerce and Textile Pakistan.”
Top government functionaries said the Pakistan Tehreek-e-Insaf (PTI)-led government will look into BRI investments and renegotiate a trade agreement inked a decade earlier. The agreement extends unfair advantages to Chinese firms, they said.
Prime Minister Imran Khan has constituted a nine-member committee to evaluate CPEC, the most ambitious part of BRI. The $62 billion-initiative includes a grand revamp of Gwadar, road rail links and power plants worth US$30 billion.
Chinese Foreign Ministry said that China places CPEC and Pakistan’s interest in the priority position of its foreign policy and neighboring diplomacy.
In Beijing, Spokesperson Geng Shuang said Pakistan and China had agreed to strengthen their ties in all fields in addition to accelerating the China Pakistan Economic Corridor (CPEC).
“Beijing will continue its support to Islamabad and both countries have agreed to accelerate the China Pakistan Economic Corridor project,” said the spokesperson.
China and Pakistan are all-weather strategic partners. The two sides exchanged in-depth views on comprehensively deepening the China-Pakistan all-weather strategic partnership and international and regional issues of common concern and reached consensus.
Geng focus will also be on accelerating industrial cooperation and construction of people’s livelihood projects, and gradually extending to the region, so that more Pakistani people can benefit from the corridor. Also said the two sides will jointly promote the construction of China-Pakistan Economic Corridor.
CPEC is a reality which promises bright future of Pakistan, aimed at initiating a modern era of trade and economic growth. To achieve the new set targets, the government is dedicated to put all energies together to make progress at the earliest.