Impact of CPEC on Pakistan’s economy-Fact Sheet

GDP Growth

• $62 billion to be added to the economy, 20% of the total GDP of Pakistan.

• Pakistan’s GDP growth rate increased from 4.7% in 2015 to 5.4% in 2016 (World Bank)
• Pakistan total GDP has increased from $244 billion in 2014 to more than $ 300 billion in 2017(World Bank)
•  $13 billion will be added to Pakistan’s GDP by 2025 (IMF)
• 2 to 2.5% annual economic growth rate expected till 2030.  (Applied Economics Research Centre)

Energy generation

• Access to electricity for the rural population increased from 90.3% in 2015 to 98.8% in 2016 (World Bank)
• Transmission and Distribution Losses went down to 16.5% in 2017 from 19% in 2015 (Ministry of Finance)
• Bill recoveries increased from 16% in 2015 to 19% in 2017 (Ministry of Finance)
• Installed capacity of electricity is 29,573 MW in 2018, which was 22,812 MW in 2013 (Pakistan Economic Survey)
• Electricity generation increased from 96,496 GW/h to 117,326 GW/h (Ministry of Finance)
• A total of $ 33.8 billion in energy project have added 12,230 Megawatts of energy (Pakistan Economic Survey)

Job Creation

• Early harvest projects of CPEC have created 30,000 direct jobs for Pakistanis (ACCA Global and PCI)
• 800,000 direct jobs estimated in the next 15 years. (Ministry of Planning and Development)
• Construction of ML-1 projects will further create 10,000 to 15,000 direct jobs this year (Ministry of Planning and Development)
• CPEC will reduce unemployment by 2.32 million by end of 2018 (Global Times)
• 75% of the total employees working in CPEC projects are Pakistanis, contrary to the belief that the Chinese have a higher representation (Ministry of Planning and Development)

References

http://www.cpecinfo.com/news/cpec-early-harvest-projects-create-over-30000-jobs-for-locals/MzE3Nw==

https://www.brecorder.com/2018/02/08/397830/more-than-30000-jobs-created-under-cpec-early-harvest-projects/

https://www.imf.org/en/Publications/CR/Issues/2017/07/13/Pakistan-2017-Article-IV-Consultation-Press-Release-Staff-Report-Informational-Annex-and-45078

http://pakchina.pk/energy-sector-projects-cpec/

http://www.aessweb.com/pdf-files/ADPR-2017-5(4)-191-198.pdf

https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?contextual=default&end=2016&locations=PK&start=2013

http://www.cpecinfo.com/news/myth-4-pakistan-will-not-gain-any-economic-benefits-from-cpec/NTA1Nw

http://www.pc.gov.pk/

https://fp.brecorder.com/2016/12/20161216113883/

http://www.finance.gov.pk/survey/chapters_17/14-energy.pdf

http://www.ppib.gov.pk/N_about_pak.htm

http://www.accaglobal.com/content/dam/ACCA_Global/professional-insights/The-modern-silk-road/pi-economics-modern-silk-road.pdf