Analysis of CPEC Projects and Effect on Construction Sector of Pakistan
China Pakistan Economic Corridor a One Belt One Road initiative is considered as a game changer especially for the continent of Asia. The trade from one country to the other parts of the world will go through the control of Pakistan. China is investing US$ 62 Billion for fully operational of this corridor through short & long term planning projects envisaged to complete by 2030. The development of infrastructure in Baluchistan province can provide access to the reserves exploration worth trillion of dollars, development of infrastructure in Pakistan will create hundreds of thousand jobs, new business opportunities, overcome energy crisis, fast communication; resulting in socio – economic benefits to the country. Pakistan Cement and Steel industry are the major beneficiaries through the CPEC projects. In this paper we have made analysis on different infrastructure projects under the umbrella of CPEC and its impact specifically on the construction sector of Pakistan. The research methodology is qualitative based on analysis of projects combined with the interview of professionals on the infrastructure projects of CPEC. The contractors of Pakistan are less benefitted while special reliefs given to Chinese companies by the Government agencies of Pakistan. The utilization of funds with transparency by Government agency on projects will be the key to success of China Pakistan Economic Corridor. We identify in our research and foresee of short term benefits of jobs creation & business growth in construction sector of Pakistan. China can benefit in long term with the development of this corridor by getting interest on its investment & reaching to the world in days instead of months. The development of infrastructure projects on GCL (Government Concessional Loans) & BOT (Built – Operate – Transfer) philosophy will keep the existence of Chinese companies in Pakistan for the next 25-30 years.
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