CPEC to generate 2.3 Million jobs by 2030

BEIJING: Eighty-eight projects under China-Pakistan Economic Corridor (CPEC) will widely benefit Pakistan with 2.3 million jobs by 2030, says a report published by Gwadar Pro.

All the projects are going as per schedule, within agreed framework. Out of total 88, 19 projects have already been completed, 28 are under implementation and 41 projects are in the pipeline. While 28 projects which are under implementation comprise projects like wind power plant, solar power plant, hydro power project and construction of special economic zones.

Forty one pipeline projects are already approved; their paperwork has been completed but the work on it has not started yet. Either they have been delayed due to the finance collections or are waiting for the right time to start. According to the report, for the past 6 years CPEC has generated around 75,000 jobs for Pakistani citizens alone.

Nearly 47,000 people are working right now on various CPEC projects even during the epidemic crisis. Out of these, 40,000 people are Pakistani citizens including labors, engineers and technicians making around 82.5% .

The other 7,000 are Chinese which include senior engineers and the Chinese labor force makes 17.5 % of the total number .The report added: CPEC offers enormous opportunities to small and medium enterprises (SMEs) to flourish. CPEC is greatly supporting small and medium businesses in Pakistan, many transporters are working with the CPEC projects.

Also local people and businesses are providing various materials to the ongoing projects. SME segment is the foundation of Pakistan’s economy and these businesses are learning from CPEC projects which can help their businesses grow and flourish in future.CPEC is going to change Pakistan’s economical structure and it will increase Pakistan’s GDP to more than 2 percent. This is a high percentage in terms of GDP increase for any country.

With the establishment of all power projects and energy imports by energy tunnels, the energy supply security will be increased in Pakistan. With this supply of energy, CPEC is expected to add 2.5% into the current GDP and its growth to 7.5%.

This is an ideal GDP growth percentage and can eliminate poverty and unemployment from Pakistan.

CPEC has also made exceptional developments in Gwadar. Some major problems were being faced including major water shortage. This has also been solved and the city is now receiving 1.2 million gallons of water supply daily.

Furthermore 300MW coal power plant inaugurated in Gwadar had lot of issues, all of which have been resolved. And in the coming months this project will also be started and Gwadar will not be dependent on neighboring country Iran anymore for its electricity.

The central park of Gwadar is also ready; work has been completed. Pakistan’s biggest airport in size and capacity is also under construction in Gwadar even during the wake of COVID-19 epidemic.