At the beginning of next year will be marked the completion of the most anticipated routes in the west and east of the China-Pakistan Economic Corridor. These two routes will eventually connect the deep-water port of Gwadar with the Chinese border. The eastern route will proceed by the coastal road from Makran, Karachi, Hyderabad, Sukkur, Multan, Lahore, Islamabad, Mansehra, Thakot, Raikot to Khunjerab, while the western route will pass through Gwadar, Turbat, Bismah, Surab, Qalat, Quala, Zhob, Dera Ismail Khan, Bannu, Kohat, Peshawar and Islamabad onwards.
The Economic Corridor of Pakistan of China is ready to be launched in 2019 by establishing the first Special Economic Zone of Pakistan, multiple plans of development of youth skills and massive plans of alleviation of poverty, especially in the marginalized regions of Balochistan, Interior Sindh, South Punjab and Khyber-Pakhtoonkhuwa. The procedures of the Special Economic Zone and the socio-economic strategies have already been drawn up in the Joint Cooperation Committee, the highest forum and the decision-making body of the China-Pakistan Economic Corridor. The Rashakai Special Economic Zone, the flagship project of the industrial development framework, is likely to see the light of day in the coming months. Located in M-1 Nowshera and covering more than one thousand acres, it will house the fruit, food, packaging, textile stitching and knitting industries. While the delegation of China Road and Bridge Corporation and the Chamber of Commerce and Industry of Islamabad recently met to see their potential in the industries of metal processing, automobiles, construction materials, electronics and leather. It will connect to the airport, the dry port, the train station, the highway, the highway and the city center, which is 16 kilometers away.
According to the initial connotation of the Rashakai Special Economic Zone, which follows the spirit of the 2013 incentive policy, the 2016 Finance Bill and the industrial policy of the Gwadar free trade zone, Chinese and Pakistani investors will enjoy incentives. to import plant and machinery without customs duties. The government can share the margin payment of fifty percent of the loans with the investors to invest in the Special Economic Zone. They will be given equal conditions to buy land in the Special Economic Zone. The mode of mechanism, in important cases, will focus on a joint venture, a public-private, private or public partnership. It is very likely that the Special Economic Zone will establish the employability formula sixty and forty between the Chinese and the Pakistanis.
The employment ratio can be seen in two infrastructure projects. The KKH II phase and the Sukkar-Multan section involve seventy percent of Pakistani workers and thirty percent of Chinese workers.
The focus of the Special Economic Zones policy is to develop backward and forward links with your local economy. There will be an impulse to connect businesses in Special Economic Zones with local businesses and with technology transfer and skills development to revolutionize industrialization. Internationally, the first modern free trade zone was created at Shannon Airport, Ireland, in 1959. China introduced an area near Hong Kong in 1980. Four thousand three hundred Special Economic Zones operate in the world today. Two decades ago, these were about five hundred.
The Chinese government has emphasized the poverty alleviation sector that employs pro-poor policies in those regions that remained underdeveloped and privileged during the five years of the China-Pakistan Economic Corridor. Seeking inspiration for the Chinese miracle of removing 700 million people from poverty, the CPEC will accelerate efforts to eliminate poverty. Pakistan has intensified its efforts to achieve a framework agreement for industrial cooperation to reactivate the manufacturing sector and industrialization through up to nine special economic zones. Pakistan imports products worth US $ 20 billion from China. If Chinese companies install their units in Special Economic Zones, it will be a win-win situation for both Chinese and Pakistani manufacturers.
CPEC in 2020
Pivot is in the construction sector, agriculture, health paramedic businesses, information technology and hospitality, tourism, media related to the media. They will also be provided with experience in the manufacturing industry, which includes textiles, home textiles, knitwear and hosiery, sporting goods, ceramic items, ceramic items, ceramics, ceramics and surgical instrument manufacturing. The China-Pakistan Economic Corridor will play an important role in the ‘Hunarmand Pakistan Program’ and in the ‘Youth Skills Development Program’ for the development of less developed areas. The China-Pakistan economic corridor will divert the influx of development in Gilgit-Baltistan in 2019 by announcing a women’s university, cancer and cardiac hospitals, a medical school and hydroelectric projects. A 100MW hydro project near the Karakoram International University in Gilgit, an 80MW hydro project in the Phander area in Ghizer and other similar projects in the region will also help close the energy gap in the poor region.