ISLAMABAD, August 1(INP) Prominent scholar and expert in Pakistan-China relations Dr. Zafar Nawaz Jaspal advocate that CPEC hold importance greater than Marshall Plan of the Europe in terms of investment and importance.
In an interview, he said ‘’the Marshall Plan was a monumental initiative by the United States to aid in the economic recovery of Europe after World War II’’.
He commented that it involved substantial financial assistance, but it was primarily focused on a specific region. In contrast, CPEC represents a broader and more complex investment strategy.
He also added that CPEC is not only about financial investment but also includes infrastructure development, energy projects, and trade facilitation. The scale of investment and the range of projects under CPEC are unprecedented.
For instance, the Chinese commitment to CPEC spans multiple sectors, including roads, railways, and energy, which collectively promise to transform Pakistan’s economy. The sheer scale of this investment exceeds that of the Marshall Plan in terms of direct financial commitment and its potential impact on the regional economy.
Responding to a question asked by anchor Mr. Abdul Ghani, Dr Jaspal who is expert in Pak-China Relations, said that there have been various concerns about security risks, but it’s important to note that the Chinese government has expressed a strong commitment to ensuring the safety and security of CPEC projects. Pakistan, too, is actively involved in protecting these investments.
Both countries are working together closely to manage and mitigate any potential threats. The collaborative efforts between China and Pakistan underscore the strategic importance both nations place on CPEC.
Dr. Jaspal further explained that Pakistan has been working diligently on multiple fronts. The government is focusing on creating a conducive environment for investment, improving infrastructure, and addressing regulatory challenges.
There are also ongoing efforts to enhance the efficiency of key projects within CPEC, such as the development of Gwadar Port.
These steps are crucial for maximizing the economic benefits of CPEC and ensuring its long-term success.
Highlighting the inexorable importance of CPEC, Dr. Jaspal elaborated that Gwadar Port is strategically located and has the potential to become an international business hub. Its deep-water capabilities and location at the crossroads of major maritime routes give it a significant edge.
The port’s development under CPEC aims to enhance connectivity between the Middle East, Central Asia, and South Asia, facilitating trade and investment. If fully realized, Gwadar could significantly boost Pakistan’s trade and economic profile on the global stage.
INP/javed
