CHINA PAKISTAN ECONOMIC CORRIDOR: OPPORTUNITIES AND CHALLENGES FOR KHYBER PAKHTUNKHWA

Abstract

China Pakistan Economic Corridor (CPEC), a multi-billion project is considered to be a fate changer not only for Pakistan but for the whole region. It will herald a new era of economic development for different areas including Gilgit-Baltistan, Baluchistan and Khyber Pakhtunkhwa (KP). The strategic position of Khyber Pakhtunkhwa plays a vital role in regional peace & stability and serve as a gateway to South Asia for China. The project will turn the relatively undeveloped areas of Khyber Pakhtunkhwa into more fascinating and favorable destination for investors. In CPEC, eight important project are allocated for KP along with several MOUs signed with the province worth US $24 billion. These projects comprise of multiple fields including agriculture, energy and communications etc. Due to the enormity of scale, the project will however also face multiple challenges and hurdles in its implementation. CPEC provide many opportunities for the people of Khyber Pakhtunkhwa, coupled with several potential threats and challenges including political unrest, economic crises, security risks and controversies between the center and provincial government. There is a huge need to address those issues which will otherwise negatively affect the implementation of the project. This way the efforts of Pakistan to join the race for economic development and regional connectivity will bear fruit. This study explores the prospects and challenges associated with the implementation of CPEC in Khyber Pakhtunkhwa.

 Keywords: CPEC, China, Pakistan, Khyber Pakhtunkhwa, MOUs