Home »Articles and Letters » Articles » The perception of CPEC

A leading newspaper of the country carried a report in May revealing a document that could be called the CPEC master plan. That report drew a sharp response from the government, particularly the minister of planning, who is in charge of all CPEC co-ordination. He argued that the report was "factually incorrect" and that the real long-term plan was under negotiation and would be released to the public upon its finalization.

The newspaper in its publication of July 20 reaffirmed that:

"A number of developments since then show that the plan, as revealed, far from being "factually incorrect," is in fact being implemented as we speak. The implementation is taking place beyond the headlines, and many of the initiatives outlined in the plan are being advanced by their being buried under other policy initiatives, to give them a different name and thereby deflect attention. This mode of implementation is contrary to how those CPEC projects the government is keen to tout are being projected as massive signature achievements. An entire website has been created simply for the purpose of purveying information about specific CPEC projects, but there are many that find no mention on that site.

The corridor is only minimally about transit trade. The power plants, too, are little more than "early harvest projects." The writer goes on to say: "Yet, this is where the reality of CPEC is. The corridor is only minimally about transit trade. The power plants, too, are little more than the 'early harvest projects' on commercial terms, designed to jump-start the economy before the real game begins. The real game of CPEC is about granting access to Chinese enterprises to Pakistan's domestic markets, raw materials and agrarian economy. But that side of the entire equation is being kept deliberately, quiet while we are encouraged to think of the projects in terms of roads and power plants alone. There is a growing and urgent need for our CPEC conversation to move beyond transit trade and balance of payments. The real game has not even begun, and few understand the form it will take."

The writer has supported his analyses with a number of examples. Beyond the views and analyses of the writer there is a bigger picture one has to look at, from the perspective of Pakistan. The last couple of decades have been the most challenging years in the short history of Pakistan. The nation faced unprecedented foreign-abetted terrorism, threats and aggression on its borders, a virtual economic collapse and an acute power crisis. The United States, not being content with "Do More" compliance, abandoned Pakistan and whole-heartedly embraced India as its strategic partner in the region. With lukewarm relations with other countries, which in any case mattered little in the global arena of influence, Pakistan stood diplomatically isolated. All this is on account of years of poor leadership and poor governance, and this is a ground reality the nation is confronted with.

Pakistan had an urgency to fill in the gap created due to the US walking away, to retain its sovereignty and good standing in the region. It needed new global strategic, economic and political alliances and respect and a strong partner to balance the influence of the US and India bracketed together. China being the second biggest economy of world with a growing political influence was the only choice for Pakistan. It was the right choice, and a better one, as China has now emerged as the leader of free economy after the US went for "America first" and Britain moved out of the European Union with "UK first" as a slogan. Under the "One Belt One Road" initiative announced by the Chinese president at the world conference in Beijing this May, he rolled out six Economic Corridors with the invitation to global leaders present at the event from all the continents of the world. Over 60 countries have signed in to be part of it. CPEC is one of the most promising and fast moving one. It is a matter of great comfort for Pakistan to be a major part of this global alliance. Regarding the philosophy and truth in the agreement signed between China and Pakistan one needs to understand that all agreements on face value are fair, balancing the interests of both parties. The wisdom lies in its implementation, and that's what really matters. Pakistan, no doubt, is weak in contract implementation and interpretation on account of lack of skills and expertise, and often also on account of vested interests. But, then, the fault is with the governance issue in Pakistan, and not with the agreements. In principle, only those agreements are successful in the long-term which are structured and implemented fairly by both parties as equal partners.

For Pakistan CPEC is all about better connectivity through road and rail network to have better accessibility to markets for businesses, employment for people in remote areas and weeding out of the hideouts of those out to harm national interests. CPEC for Pakistan is to meet its energy needs by exploiting its renewable and thermal-energy resources. CPEC is a project of over 40 Special Economic Zones being set up promising employment opportunities to the youth and revenue generation for the nation. All of this is on the soil of Pakistan and its assets for all to benefit from.

CPEC has globally positioned Pakistan on a higher economic, political and diplomatic standing. Its diplomatic relations with Russia and the Central Asian states are now at a much higher level of understanding. Europe and the emerging markets are once again eying Pakistan as a location of opportunities. The Pakistan-China bracket is expected to last longer and work better than the India-US bracket. As a trade-off, China too seeks benefits out of CPEC, which is fair. However, its extent beyond the equitable share depends on how much Pakistan concedes, which is again a matter of negotiating skills and the will of its managers to perform in the best national interest.

(The writer is former President Overseas Investors Chamber of Commerce and Industry)



the author

Top
Close
Close