by Misbah Saba Malik
ISLAMABAD, Dec. 17 (Xinhua) -- Pakistani experts and officials hailed the China-Pakistan Economic Corridor (CPEC) as a transformative initiative that is reshaping Pakistan's economic landscape, shaping up industrial growth, and empowering marginalized communities.
Speaking at a seminar titled "10 Years of CPEC: Success, Opportunities, and Challenges," organized by the Asian Institute of Eco-civilization Research and Development (AIERD) here on Monday to commemorate a decade of CPEC, the participants emphasized that the initiative holds the key to steering Pakistan's economy out of crisis and towards sustainable development.
Launched in 2013, CPEC, a flagship project of the China-proposed Belt and Road Initiative, is a corridor linking Gwadar Port in Pakistan with Kashgar in northwest China's Xinjiang Uygur Autonomous Region, which highlights energy, transport, and industrial cooperation in the first phase, while in the new phase, it expands to fields of agriculture and livelihood, among others.
Speaking at the event, Jamil Qureshi, secretary of the Special Investment Facilitation Council (SIFC) of Pakistan, said the initiative that began as a vision 10 years ago has now become a reality, reshaping Pakistan's economic landscape and the broader region.
"CPEC is not merely a collection of infrastructure projects; it is a vision for Pakistan's future, marked by thriving industries, abundant employment opportunities, technological growth, and enhanced economic relations," he said.
Qureshi underscored the urgent need to establish a robust industrial ecosystem and fully operationalize special economic zones (SEZs) to tap the potential of CPEC.
"The government has evolved into a facilitator, ensuring policy frameworks, security infrastructure, and incentives to create a conducive business environment for investors in CPEC projects," said the secretary of the SIFC, adding that the high-level platform comprising government and military officers was dedicated to attracting foreign investment by simplifying processes and removing bureaucratic hurdles.
In his comments, Zahid Latif Khan, chairman of AIERD, noted that CPEC presents an unprecedented opportunity to strengthen Pakistan's financial markets by introducing innovative instruments and opening pathways for local and international investors.
Nabila Jaffer, a research analyst at the Institute of Regional Studies, an Islamabad-based think tank, highlighted that CPEC has empowered women by creating equal opportunities for their participation.
She cited examples from the Thar Desert in southern Sindh, where women were integrated into CPEC's coal mining project, and from Gwadar, where a technical and vocational institute has equipped women with skills, enabling them to secure livelihood opportunities and contribute to their communities' economic development.
In his remarks, Shakeel Ahmad Ramay, CEO of AIERD, underlined the strategic importance of CPEC energy projects, stating that without them, Pakistan would lose 15 to 20 billion U.S. dollars annually.
He credited CPEC with turning Pakistan into a hub of connectivity and laying the groundwork for sustainable development and prosperity, stressing the need for joint mechanisms between Pakistan and China to ensure security for the initiative.
The participants unanimously acknowledged that CPEC is more than an infrastructure initiative, calling it a game-changer for Pakistan and a testament to the enduring friendship between Pakistan and China. ■
