ASSESSING CPEC: EMPLOYMENT OPPORTUNITIES, POSITIVITY AND NEGATIVTY IN CONTEXT OF REGIONAL COOPERATION

Abstract

China Pakistan Economic Corridor (CPEC) is considered a mega project for the regional connectivity with a potential to be a game changer for the entire region. CPEC is a multi-billion project, reserved for the energy and infrastructure respectively. This paper investigates the impact of CPEC on socio economic development in Pakistan through the years. The most significant impact has been observed in the employment sector. Due to this project, 30,000 jobs will be provided to young unemployed professionals. In addition, transportation costs will be minimized and Infrastructure will also be improved by constructing motorway between Lahore and Karachi. Moreover, important impact of CPEC is to resolve the power shortage. Along these positive aspects, CPEC also has some negative impacts like, the risk of higher income disparity not only in Pakistan but also between the China and Pakistan. The reason behind this is the tax exemption on Chinese. Secondly, due to capital flight, trade deficit will increase. In the light of above discussion, it is suggested that Pakistan have to wake up and work for their own interests, and cultivate the required skills and compound talents in the Pakistani youth in higher education institutions to increase their employability in Chinese companies