Pakistan to get foreign capital and advanced technology under CPEC, says Chinese diplomat

Special Economic Zone (SEZ) under the China-Pakistan Economic Corridor (CPEC) will enable Pakistan to get foreign capital and advanced technology, said Cheng Xizhong a senior fellow with Chahar Institute and former Chinese diplomat in South Asian countries.

The CPEC will not only bring advanced technology to the country but it will also expedite Pakistan towards modernization and industrialization. The first project for implementation of industrial cooperation under the CPEC is soon going to launch and a formal opening ceremony of Rashakai SEZ will be held soon.

Cheng Xizhong further said that among other ongoing development projects, the construction of the 22 energy and transportation infrastructure projects in the first phase of the CPEC has created favorable conditions for the comprehensive development of Pakistan, including SEZs.

Xizhong, also a visiting professor of Southwest University of Political Science and Law, said;

“The livelihood concerns will be gradually alleviated. Deng Xiaoping, Chief Architect of China’s Reform and Opening-up, once stated that development is the absolute principle. Only through development can we solve people’s livelihood problems and enable the broad masses of people to get rid of poverty and embark on the road of prosperity”.

He also said that CPEC has provided around $163 million in revenue to the Pakistan government after one year of its operation. The influx of foreign capital and advanced technology will further take Pakistan towards industrialization and modernization.

Meanwhile, the project experts predict that the Rashakai SEZ will create over 200,000 employment opportunities. In the same manner, if all the nine SEZs become fully functional, at least 1.8 million job positions will be provided to the locals.