CPEC will be able to create 1.2 million jobs in 5 years – Chinese Embassy
- 1.2 Million jobs to be created
- Energy and infrastructure projects will be included
- Ongoing CPEC projects will also play their part.
The Chinese Embassy in Pakistan said that the China-Pakistan Economic Corridor (CPEC) will create 1.2 million jobs.
As per details from the Chinese Embassy, over the course of five years, 11 projects have been completed whereas 20 projects are in pipeline. The projects when accumulated can create 1.2 million jobs.
Let’s take a look at the details on how it will be achieved.
Ongoing CPEC projects:
Total investment on CPEC projects is $18.9 billion, the ongoing 20 projects are related to:
- Gwadar port
- Industrial sectors
Seven energy projects:
According to the details form Embassy, seven energy projects generating 6900-megawatt electricity, have been completed.
Employment opportunities from this venture have benefited about 75,000 Pakistanis.
Completion of CPEC projects:
The short-term, mid-term and long-term CPEC projects will be completed by 2020, 2025 and 2030 respectively.
It is expected that the employment opportunities for local youth will maximize with the implementation of mega projects in mid to long-term of CPEC.
CPEC will support to create around 400,000 jobs in the coming years. Also, this figure may go much higher as CPEC will generate around 800,000 jobs within the next 15 years.
Besides great political, economic and social significance between Pakistan and China, CPEC is the most comprehensive project under Belt and Road Initiative. Currently, three infrastructure projects are under construction.
PM’s visit to China:
During Prime Minister Imran Khan’s visit to China in November 2018, both sides had confirmed their commitment to CPEC.
The two sides also agreed to consult on the future path of CPEC. They had considered Pakistan’s priority of economic development and the demand of Pakistani people.
CPEC is helpful for manufacturers in Pakistan:
Besides huge employment opportunities, the under-construction CPEC can provide a boom for steel and cement manufacturers and they will be able fully to engage in multiplying their production.
This is a start, thousands of jobs will be created specifically for the locals and the industrial cooperation phase will start soon. Relocation of Chinese industries has the capacity to create many jobs for Pakistanis.
The CPEC project will be a game changer for Pakistan. It will also play an important role in facilitating the development of Pakistan’s economy and creating new jobs.