December 07, 2018
Government Announces to Form a New National Tax Agency
Minister of State for Revenue Hammad Azhar announcCONTINUE READING
The CPEC (China Pakistan Economic Corridor) is considered to be an opportunity for the growth of Pakistan’s economy and could lead to a new era of the industrial revolution in Pakistan, it guarantees 1.2 million jobs to be offered by 2030 to the Pakistani people. Allauddin Marri, the Caretaker Balochistan Chief Minister reportedly said “The people of Gawadar have been stepping into a new era of development through CPEC. In the first phase of the multi-billion Dollar project, the provincial government is stressing power and water projects for the people of Gawadar.”
In a study conducted by the #CPEC Centre of Excellence, it has been estimated that the CPEC #project will generate around 1.2 million jobs by its completion in the year 2030.https://t.co/vTDYUBlSlH@pcipakchina @zlj517 @GameChangerYR— CPEC Official (@CPEC_Official) August 2, 2018
The Center of Excellence for CPEC mentioned that CPEC intends on working on projects regarding agriculture, tourism, fishing and oil and gas production. It has also been informed that road projects have created almost 30,000 jobs in its 3 projects, 23,000 jobs in 5 energy projects and 1100 jobs in another project. In the near future, as the projects are worked on, 1800 more jobs are to be expected in 2 more road projects and 14,400 jobs in the railroad Mainline-1 project. An estimation suggests that 11 other projects can potentially offer 76,000 jobs, these 11 projects include work on the new Gawadar International Airport, stainless steel and other industries, the Bao steel park, breakwaters and upgrading and developing fishing and boats for better livelihoods of the people living there.
Nine SEZs (Special Economic Zones) can also potentially lead to 1.020,000 jobs for the economy as well as 50,828 jobs from 16 energy projects. The majority of the jobs that are to be created will be for the Pakistani people, the only issue to stand is the fact that the Pakistani population will need education and training on the technology and skill needed, as the job market expands, the population doesn’t always catch up.
In CPEC’s FAQ site, CPEC has stated that “Under CPEC, Pak and China have initiated projects of 17,045 MW of electricity, national level modernization of roads and rail infrastructure, new optical fiber connect with China, development and commercialization of Gwadar port and smart port city, 4 urban mass transit projects in major cities and 9 SEZs. Due to development initiatives of the government, economic growth rate 5.3% a decade high was achieved in 2017."
More information on CPEC’s projects and plans can be found on their website and the FAQ section there, CPEC has planned to keep working and investing in Pakistan until 2030, the project has brought in a lot of economic advantage into Pakistan and CPEC intends to open up new opportunities for Pakistan and Pakistan’s people.