CPEC’s dividends to alleviate poverty, bring prosperity

The CPEC has provided Pakistan an excellent opportunity to transform from an agriculture-based economy to an industrial-based that will ultimately help decrease poverty to a significant level.

According to Gwadar Pro, economists in Pakistan believe that CPEC to provide solid support to the industrial sector to modernize itself and become more efficient and competitive for achieving the desired goals. The various energy projects, coupled with improvements in infrastructure and road networks have already addressed some of the key constraints to growth and for poverty alleviation.

Various projects completed under the CPEC have employed more than 100,000 Pakistanis. More importantly, the development of Special Economic Zones (SEZs) would enable industries to smooth supply chains, enhance collaboration and innovation capabilities, and help reap significant economies of scale.

Analysts believe Pakistan will be the biggest beneficiary of CPEC. It has already won hearts in Pakistan. This project has emerged on Pakistan’s horizon as the biggest source of jobs for Pakistani youth. The experts added, Pakistan also needs to learn a lesson from China’s five-year plan policy. As the building of SEZs takes pace, Pakistani authorities expect the transfer of technology and spillovers from China into Pakistan in a few years.