ASSESSING CPEC: EMPLOYMENT OPPORTUNITIES, POSITIVITY AND NEGATIVTY IN CONTEXT OF REGIONAL COOPERATION

Abstract

China Pakistan Economic Corridor (CPEC) is considered a
mega project for the regional connectivity with a potential to be a game
changer for the entire region. CPEC is a multi-billion project, reserved
for the energy and infrastructure respectively. This paper investigates the
impact of CPEC on socio economic development in Pakistan through the
years. The most significant impact has been observed in the employment
sector. Due to this project, 30,000 jobs will be provided to young
unemployed professionals. In addition, transportation costs will be
minimized and Infrastructure will also be improved by constructing
motorway between Lahore and Karachi. Moreover, important impact of
CPEC is to resolve the power shortage. Along these positive aspects,
CPEC also has some negative impacts like, the risk of higher income
disparity not only in Pakistan but also between the China and Pakistan.
The reason behind this is the tax exemption on Chinese. Secondly, due to
capital flight, trade deficit will increase. In the light of above discussion,
it is suggested that Pakistan have to wake up and work for their own
interests, and cultivate the required skills and compound talents in the
Pakistani youth in higher education institutions to increase their
employability in Chinese companies.