CPEC to herald new era of prosperity: Khawaja

The China-Pakistan Economic Corridor (CPEC) will turn Pakistan into a great investment destination and would begin a new era of progress and prosperity. "The CPEC is as important as nuclear program for the country. Therefore, all political circles should play their due role for its early completion," urged Khawaja Khawar Rasheed, former executive committee member of the Lahore Chamber of Commerce and Industry.
Talking to Business Reorder, he further said that under the CPEC project, 3,218 kilometre route would be built over next several years consisting of highways, railways and pipelines. He said that actual estimated cost of the project is expected to be US $75 billion, out of which US $45 billion plus would ensure that the corridor becomes operational by 2020. The remaining investment would be spent on energy generation and infrastructure development. He said that it is a beginning of a journey which, it is hoped, to transform the economy and helps bridge Pakistan's power shortfall.
Khawaja Khawar said that the China-Pakistan Economic Corridor has drawn the attention of the entire world and provided Pakistan a unique opportunity to become a global economic leader. He said although the governments of the two countries are closely collaborating in this project, the private sectors of Pakistan and China are going to have a bigger role to play in this mega project.
"The CPEC is an overall co-operation platform with a focus on the long-term development of bilateral co-operation in various fields," he said emphasising that the mega project should be completed at any cost as it has the undoubted potential to turn Pakistan into a pivot of regional co-operation.
Khawaja said that if Pakistan used this opportunity wisely, the CPEC would enable it to harvest the economic benefits which could considerably strengthen its regional clout and prove the country as the priceless long-term ally for Beijing. This project would also bring development and prosperity to the people of around 10 developing nations, he said.