ASSIGNMENT

DEPARTMENT: BUSINESS ADMINISTRATION

Topic: CPEC Is Game Changer on Pakistan`s

Economy.

Name
Adnan Illahi 08

Class: BBA-III-Section-A
Subject: Intoduction To Business

Submitted to
R/Sir
Sir Shabazz Ali.
China Pakistan Economic Corridor
 CPEC Is Game Changer on
Pakistan Economy

Table of Contents
1. Introduction to the CPEC
2. China Pakistan Economic Corridor
3. Historical Perspective of CPEC
4. Concept of “One belt and One road”
5. Selection of Gwadar
6. CPEC and Pakistan Economy
7. Challenges for Pakistan
8. CPEC and Tax and Power tariff issues
9. CPEC benefits for Pakistan
I). Overcoming Energy crisis
II). Infrastructure development
III). Economic development
IV). Balance environment in South Asia
V). Removal of Poverty
VI). Peace and prosperity in the province
10. Conclusion
11. Recommendations
12. Notes and References.

1. Introduction to the CPEC

The 21st century has seen the establishment of regional and global strategic
environment around the world. Strategic environment encourages geo-economical and
geostrategic partnership among countries. Both the state interests and national security
are important parameters of this partnership. States have defined their interests and
have reshaped their policies because they have realized that it is not possible for them
to defend their interests with their own capacities. High-level talks and diplomatic
consultations are the hallmark of ever-growing cooperation among states in multi-
faceted fields such as industrial ventures, infrastructure and development programs,
defense, commerce and related area of the economy.
China was regarded as a sleeping giant in earlier decades. But now, China is
playing a core role not only in the Asian region but in the entire world. Being the largest
country in the world population-wise and fast becoming economically as big as it is
demographically, it has finally succumbed to the charms of multilateral diplomacy which
it had been known to ignore during the earlier decades. The other reason behind the
changes in the Chinese foreign strategy is economic stemming from its rising energy
demands. In cynic with this strategy, China has turned its nearest regions into a new
regional trade hub.
Regional connectivity is one of the most important aspects of Pakistan foreign
policy.. With the support of China, Pakistan has gained significant importance not only in
the region but the entire world.
In recent years, both China and Pakistan have been making concerted efforts to
revive the historic Silk Road which is one of the oldest known trade route in the world
and will provide a route for trade from Kashgar (China) to Gwadar (Pakistan). China-
Pakistan Economic Corridor plan will help Pakistan to become one of the most
strategically important countries in the region. It will also provide an opportunity to China
to build a naval base on Gwadar port that will increase influence of China in the region
and also counter US influence in the Asia-Pacific region.
The CBS News quoted some Western diplomats on Pakistan-China partnership.
According to them, China’s increasing economic engagement with Pakistan should be
seen in the context of Beijing’s “efforts to counter the US efforts to deepen alliances
around the Asia-Pacific region”.

2. China Pakistan Economic Corridor

China and Pakistan have agreed to build One Belt One Road project more commonly
known as China-Pakistan Economic Corridor is expected to bring about both peace and
prosperity in South Asia. This corridor will incorporate 2,000 kilometer transport link
between Kashgar in northwestern China to Pakistan’s Gwadar port on the Arabian Sea
near the border with Iran via roads, railways and pipelines
 Recognizing the fact that regional integration is an inevitable measure to meet
the demands of economically globalized world, the notion of Silk Road was reformulated
and rephrased by China in 2013 under ‘one road, one belt’ initiative i.e., Economic Belt
along the Silk Road and the Maritime Silk Road. Pakistan is a significant partner for
China as it links China to the Central Asia, Southern Asian region and Middle East and
its major deep-sea port Gwadar offers direct access to the Indian Ocean and beyond.
Both countries have been working on enhancing their coordination and strategic
communication to safeguard common interests. China Pakistan Economic Corridor
(CPEC) represents a new model of Pakistan and China cooperation which will serve
against the backdrop of complex and changing regional and international situations.
China and Pakistan have developed strong bilateral trade and economic ties and
cooperation over the years. China has gradually emerged as Pakistan’s major trading
partner both in terms of exports and imports. Bilateral trade and commercial links
between the two countries were established in January 1963 when both signed the first
bilateral long-term trade agreement.9 Both countries signed Free Trade Agreement
(FTA) on November 24, 2006 and implemented from July 1, 2007. Later on, both signed
the FTA on Trade in Services on February 21, 2009 that became active from October 10
that year. CPEC is an under-construction mega-project which will achieve the political
and economic objectives through trade and development and will also strengthen the
economic and trade cooperation between the two countries. This corridor will also be
helpful in creating regional stability in South Asia. After completion of the corridor, it will
function as a primary gateway for trade between China and Africa and the Middle East.
It is expected that this corridor will help cut the 12,000 kilometer route which Middle
East oil supplies must now take to reach the Chinese ports.

3. Historical Perspective of CPEC

The vision for an economic route between China and Pakistan stretches as far back as
the Musharraf era. This idea CPEC: Challenges and Opportunities for Pakistan 147
speculated for many years, gained traction in May 2013 when Chinese Premier Li
Keqiang emphasized the construction of the CPEC during his visit to Pakistan. He
signed the landmark CPEC agreement at that time. In the same year, Pakistani Prime
Minister Nawaz Sharif visited Beijing and signed eight agreements approximately
costing $18 billion that included building around 200 kilometers tunnels for the CPEC.
Pakistan’s President Mamnoon Hussain visited China in February 2014 to discuss the
plans of the corridor. In the same year, Pakistan’s Prime Minister Nawaz Sharif again
visited China and signed 19 agreements with China. At that time, the Chinese banks
and companies pledged over US$ 45.6 billion for energy and infrastructure projects
along the corridor. The agreements proved a deepening strategic linkage between the
two countries. Chinese President Xi Jinping visited Pakistan in April 2015. This was the
second visit of a Chinese leader in Pakistan in 21st century after Hu Jintao's visit to
Pakistan in 2006. Xi was to visit Pakistan in 2014 during his South Asia trip to Maldives,
Sri Lanka and India. It was postponed due to political unrest in Pakistan. During his visit,
a total of 51agreements were signed between China and Pakistan having worth of $46
billion which also included the development of China Pakistan Economic Corridor. The
$46 billion investment China intends to commit to Pakistan under the CPEC is
impressive. The amount exceeds all foreign direct investment Pakistan has received in
the past several years, and is considerably more than all the aid Pakistan has received
from the US since 9/11.

4. The Concept of “One Belt and One Road”

The “One Belt One Road” concept has international strategic importance. The One Belt
One Road initiative covers countries and regions with a total population of 4.4 billion
and a total economic volume of US$ 21 trillion, 63 percent and 29 percent respectively
of the World’s total.4 According to the assessment of the Corridor, the plan is involved in
laying the foundation for regional cooperation,improving economic growth, offering trade
diversifications, investing in transportation, mining and energy sectors and creating
political flexibility. It is a vision with world-changing implications, an unfolding plan that
would weave much of Asia, Europe, Africa, Oceania and the Middle East much more
closely together through a patchwork of diplomacy, new infrastructure and free trade
zones.5 CPEC: Challenges and Opportunities for Pakistan 145 The “One Belt one
Road” Project consists of three routes, southern, central and northern route. The
southern corridor begins from Guangzhou, which is the third largest city of China in
South Central China. This route moves towards western parts of China and connects
Kashgar with Pakistan at Kunjarab – a point from where China wants to link to Gwadar
port in the Arabian Sea. It is the shortest and the most feasible option for China.6 The
second Chinese option is the Central Corridor that starts from Shanghai and links the
country to Tashkent, Tehran and onwards to Bandar Imam Khomeini Port of Iran on the
Persian Gulf. One of its branches goes up towards Europe. This is the longer route but
could be an option, if Pakistan does not deliver on the timelines of completing its road
network to become a beneficiary of the New Silk Road Economic Belt. The third
Chinese option is the Northern Corridor that starts from Beijing, passes through Russia,
and links it to European cities.

5. Selection of Gwadar port

Gwadar is actually the tail of the silk belt, which will connect Kashgar through different
communication networks. Gwadar holds central place in the project of the China-
Pakistan Economic Corridor because without making the Gwadar Port fully functional, it
would be difficult to see the anticipated corridor as an energy corridor that appears as
one of its main objectives behind the construction of the CPEC. Located near the Strait
of Hormuz, which channels about one third of the world's oil trade, Gwadar could play a
key role in ensuring China's energy security as it provides a much shorter route than the
current 12,900km route from the Persian Gulf through the Strait of Malacca to China's
eastern seaboard. It has been said that Gwadar will also put China and Pakistan in a
strategically advantageous position along the Arabian Sea compounding the existing
Indian concerns that stem from ‘China's involvement in nearby ports such as
Hambantota in Sri Lanka, Sittwe in Myanmar and Chittagong in Bangladesh. On the
other hand, as India is also energy hungry it looks forward to developing Iran’s
Chabahar Port. In October 2014, India decided to develop Chabahar Port, which many
believe is to open up a route to landlocked CPEC: Challenges and Opportunities for
Pakistan 149 Afghanistan, where India has developed close security ties and economic
interests. The port has the potential to serve as a secure outlet as well as a storage and
trans-shipment hub for the Middle East and Central Asia oil and gas suppliers through a
well-defined corridor passing through Pakistan. The operational control of the port will
enable China’s access to the Indian Ocean, which is strategically important for China as
it expands its influence across the region. Gwadar port will be connected with China’s
western province of Xingjiang through rail and road links. China eastern seaboards are
3,500 km away from the city of Kashgar in western China while the distance from
Kashgar to Gwadar port is only 1500 km.

6. CPEC and Pakistan’s Economy

According to Minister for Planning Development and Reform Ahsan Iqbal, “Pakistan-
China Economic Corridor is not the name of a single route or alignment, it is a
comprehensive package of cooperative initiatives and projects encompassing regional
connectivity, information network infrastructure, energy cooperation, industry and
industrial parks, agricultural development, and poverty alleviation, financial cooperation
as well as livelihood improvement including municipal infrastructure, education, public
health and people-to-people communication which will result in thousands of new
ventures and millions of jobs in every part of Pakistan.The Asian Development Bank has
termed the project as, “CPEC will connect economic agents along a defined geography.
It will provide connection between economic nodes or hubs, centered on urban
landscapes, in which large amount of economic resources and actors are concentrated.
They link the supply and demand sides of markets.Pakistan is the second largest
trading partner of China in South Asia; the trade volume stands at US $ 19
billion. According to data released by the State Bank of Pakistan, the country received
US $ 975.4 million as FDI during July-March 2015/16 as compared to the US $ 832.2
million in the corresponding period of last fiscal year. The FDI from China grew by 167
percent to US $ 516 million during July-March 2015/16 as compared to the US $ 193.3
million in the corresponding period of the last fiscal year.The CPEC would pass through
all the four provinces as well as Gilgit-Baltistan. Balochistan and KPK’s backward areas
would be developed. Balochistan is rich in mineral resources (estimated stock of 200
million tons of iron and 217 million tons of coal, Saindak gold and copper mines contain
reserves up to 412 million tons of copper and gold, Reko Dik 5.9 billion tons of copper
and gold). The mining sector would flourish. It would contribute towards reducing
unemployment in local areas; strengthening micro, medium and small sized industries,
thus, benefiting the local population.Federal Minister for Planning Development and
Reforms, Ahsan Iqbal said: “The production of 10,000 megawatts of energy under the
CPEC would help overcome the energy crisis by 2018 as well as upgrade the existing
road network of the country.”Universities are also being planned on CPEC’s Western
route. These universities will educate and empower the people of FATA, Zhob and
Gwadar. Tourism will also flourish under CPEC.

7. Challenges for Pakistan

Pakistan faces several challenges in the implementation of the China Pakistan
Economic Corridor (CPEC) project. These challenges can be identified as external and
internal. The Vice Director General of Policy Research Office at the International
Department of the Central Committee Communist Party of China, Dr. Luan Jianzhang is
of the view that political unrest, security situation and administrative issues are some of
the greatest challenges in the way of successful completion of the corridor. The
construction of the corridor has been defined by many as a strategic moment such that
Pakistan has assumed the position of economic pivot for the whole region. This
paradigm shift in circumstances is a cause of great worry for the enemies of Pakistan
both within and outside. India, Israel and the US are unhappy. For India, CPEC is a
thorn in its paw. They have put their heads together to work out new strategies to block
the project forward march. RAW has opened a special office in Delhi and has been
allotted $300 million to disrupt CPEC. Already one can notice sudden upsurge in the
acts of terror in the three restive regions and activation of certain NGOs and think tanks
all trying to air misgivings and create fear psychosis. In Pakistan, some political parties
like ANP, Baloch nationalists, PkMAP raised serious objections to the CPEC project.
Even PTI and JUI (F) showed inclinations to climb the bandwagon of anti-CPEC forces.
Objections were being raised despite assurances by the government that this project
will provide equal opportunities to all the provinces. There are numerous internal and
external challenges for Pakistan over Pakistan China One Belt One Road Project.

8. CPEC and Tax and Power Tariff Issues

China has raised serious concerns over the issue of tax, power tariff and electricity price
with Pakistan along with the implementation process of the China Pakistan Economic
Corridor (CPEC) energy projects in Pakistan. According to sources, China has
expressed serious reservations over the hurdles and delaying tactics purportedly being
employed by the Federal Board of Revenue (FBR).According to the agreement, under
the CPEC, the imported equipment would be exempt from sales tax and withholding tax.
However, the approval procedure from FBR is proving time-consuming, which is
negatively impacting on project construction timelines in Pakistan. The Chinese
authorities have pointed out that the decrease in tariff for renewable energy will
negatively impact on the cost-effectiveness of project implementation, dampen
investment enthusiasm and affect projects implementation based on China-Pakistan
Inter-governmental Agreement. The Pakistan side replied that renewable energy tariff
will not remain the same in the future and the tariff decreasing range is closely related to
the cost of the project at the time of application for tariff. The cost of renewable energy
is declining in the international market; besides National Electric Power Regulatory
Authority (NEPRA) determines tariff which is independent of the Pakistan government.
NEPRA reviews the tariff on all fuels after a certain time frame considering the
international benchmarks and cost of power for common consumers.

9. CPEC and Benefits for Pakistan

Pakistan has been playing a significant role in South Asia. After the completion of China
Pakistan Economic Corridor; economic, commercial as well as geostrategic
environment will improve in Pakistan. It will help Pakistan in dealing with the problems
of poverty, unemployment and inequities of undeveloped provinces. During his meeting
with President Xi Jinping, President Mamnoon Hussain said the China Pakistan
economic Corridor would prove to be a game-changer in the whole region by generating
massive trade and economic activity and opening new vistas of progress and prosperity
for the people of the two countries and about three billion people of the region. CPEC
from all counts will prove a game changer and will make China a real stakeholder in
Pakistan’s stability and security. It is a win-win situation for both. It will greatly expand
the scope for the sustainable and stable development of China’s economic
development. Investments by China will boost Pakistan’s $274 billion GDP by over 15
%.Corresponding progress and prosperity in Pakistan and China’s patronage will help
Pakistan in getting rid of the decade old labels of ‘epicenter of terrorism’, ‘most
dangerous country’ and a ‘failing state’. Pakistan enjoys a more favorable fiscal situation
compared to India by reducing its budget deficit to 4.7% of GDP in 2014 (as against
India’s 7%) and Pakistan is both competitive and cheaper as an emerging market.
China’s economic and military assistance will help Pakistan a great deal in narrowing its
ever widening gap in economic-military-nuclear fields with India and in bettering its
defense potential. Ambassador of China to Pakistan Sun Weidong while talking about
the corridor said that the setting up of energy, transport, infrastructure and industrial
projects under China Pakistan Economic Corridor (CPEC) would benefit all the
provinces of Pakistan. He said that the CPEC was not limited to just a road but it will
connect the country with a number of motorways and infrastructure projects. He
explained that infrastructure projects included Gwadar port, the second phase of the
upgrading project of Karakoram Highway, motorway project between Karachi and
Lahore, Thakot-Havelian motorway, Gwadar port expressway, Gwadar international
airport and Karachi Sukkur motorway, adding further that the project will increase
collaboration in areas of energy, finance, commerce, banking, industry and education.
Here are some benefits which Pakistan will take after the completion of CPEC which are
discussed as under

I). Overcoming Energy crisis

Energy is described as life line of the economy of any country. It is most vibrant
instrument of socioeconomic development of a country. Due to population growth and
industrial demand, there have been severe energy crises in Pakistan. The major reason
behind Pakistan’s poor power generation is the political instability and the exponentially
increasing demand for power and lack of efficiency. No significant solution to the
problem has yet been found and it continues to torment the citizens as power supply is
one of CPEC: the basic necessities in this era of modern technology. Power blackouts
and load shedding (deliberate blackouts) are common in every area around Pakistan
especially the major cities. Wapda and KESC have failed to tackle the problem that
exposes the failure of the system of the state. CPEC is the ideal project which will help
rid country of the energy crises. Energy availability in country will revive existing
industries, such as textile to full production and add an estimated 2 percent to
Pakistan’s GDP growth. Chief Minister Punjab, Shahbaz Sharif said that China is
extending great economic cooperation to Pakistan and that the government is making
serious effort for resolving the energy crisis and a number of projects with Chinese
cooperation would start producing electricity. Planning Development and Reforms
Minister Ahsan Iqbal said CPEC framework will cover four major areas and energy zone
is one of them. In the energy sector, project totaling 10,400 megawatts had been
included in the early harvest (first priority) programme, which could be completed by
2018. In all, Chinese firms will put up $35 to $37bn in the foreign direct investment for
independent power production (IPP)under an investment policy that was available to all
investors.54 These projects would be based on wind, solar, coal and hydropower
generation of 16,400 MW as well as the transmission system and would be located in all
the provinces and Azad Kashmir. He further said China would be setting up 10 projects
of 6,600MW in the Thar Desert that would transform this remote and underdeveloped
region into Pakistan’s energy capital and open up economic opportunities for the
people.

II). Infrastructure development

Infrastructure development – including the development of roads, ports and highways is
another important segment of CPEC. This project basically will improve Pakistan’s
infrastructure connection with all sub regions in Asia, and between Europe Asia and
Africa step by step and will remove all investment and trade barriers for the creation of a
sound business environment within the region and in all related countries.56 After the
complementation of this Project, Pakistan will become modernize and then by spreading
out markets for manufactured good. The areas adjacent to the corridor would become
attractive locations for manufacturing, agricultural and services industries, Small and
medium enterprises would be special beneficiaries. Employment and economic growth
expand significantly. It will also attract whole world for economic and trade assistances.
under which the Karakoram Highway had been identified for the first phase and
Khunjerab-Havelian- Islamabad section of the road was expected to be completed in
three years, moreover, CPEC route would be utilized for the creation of economic and
industrial free zones, for which a fresh economic zone working group would be created
soon after the upcoming visit to link all the four provinces, AJK, Fata and Gilgit-Baltistan
to expand benefits of the initiative across the country.

III). Economic development

China Pakistan Economic Corridor will help build a robust and stable economy in
Pakistan and will create a significant opportunity for Pakistan to revive its industry and
advance its economic interests. It will also help in overcoming the psychological barriers
to flows of foreign investment from other sources. Despite its restrictive economic
regime, over 150 private equity funds, foreign and domestic, are active in India. Only
three or four such funds are dedicated to investing government, with the participation of
the private sector, to encourage foreign direct investment in Pakistan is
indispensable.59Finance Minister Ishaq Dar said war phobia can also be defeated
through economic development. Peace and prosperity can be achieved with economic
advancement. This project will go beyond regional ambits to bring about enormous
changes not only to the national economies of the benefiting states but also to the
economics of the people at the grassroots level.

IV). Balance environment in South Asia

CPEC is the crown jewel in the new Pakistan economic paradigm because Pakistan
has the opportunity to act independently of the western influence especially the US
influence as it has proved of late, an irritant factor. CPEC Project will also bring an
opportunity to Pakistan for normalization of ties with India, Iran and Afghanistan which
will keep balance, strengthen prospects of peace and improve socio-economic status of
the people of the region.

V). Removal of Poverty

CPEC is a game changer project which will lift millions of Pakistanis out of poverty and
misery. The project embraces the construction of textile garment, industrial park
projects, construction of dams, the installation of nuclear reactors and creating networks
of road, railway line which will generate employment and people will also take
ownership of these projects. 61Fully equipped hospitals, technical and vocational
training institutes, water supply and distribution in undeveloped areas will also improve
the quality of life of people

VI). Peace and prosperity in the province

CPEC is not only the name of road, port and railway system but a multi-dollars mega
project which will bring peace and prosperity in all the provinces of Pakistan. The
chairman of the Gwadar port, Dostain Khan Jamaldini said that the CPEC would not
only benefit Balochistan but also prove beneficial for the country’s three other provinces.
Economist Dr Shahid Hassan said CPEC would bring more prosperity in the whole
country and would reduce unemployment in the country. Functioning of Gwadar port will
bring an economic revolution and business activities will get a much needed boost

10. Conclusion
China Pakistan Economic Corridor is the game changer project which will incorporate a
2,000 kilometer transport link between Kashgar in northwestern China to the Gwadar
port on the Arabian Sea near the border with Iran. When this corridor will be completed,
oil from the Middle East could be off loaded at Gwadar, which is located just outside the
mouth of the Gulf, and transported to China throughBalochistan and over the
Karakoram Mountain. There are many challenges for Pakistan in implementing this
project. At the same time, Pakistan will have many benefits from this corridor.

11. Recommendations
 All political parties should express full support for the implementation of
CPEC

 All political parties should be united and resolve their political issues and act
for their mutual benefits.

 The government and all the provinces should work jointly for the commercial,
Economic and cultural development as well as peaceful environment in the
country.

 The government should share all details of CPEC project with all the political
parties of all the provinces.

 The government should discuss the benefits and challenges of this multi-
dollar project with all the provinces.

 The Pakistani government should provide full support and assistance to

foreign workers of different CPEC projects.

 The government should provide security to the foreign workers on different

projects of CPEC.

 The government should not delay work on CPEC because it can provide
space to the terrorists and militants to create hurdles in the smooth
construction of this project.

12. Notes and References

1. Liping, Xia. (2015). The Development of the “One Belt and One Road” and its
Impact on China-US Relations. Chinese People’s Association for Peace and
Disarmament Beijing, China.
2. Ibid

3. Mahar, Asiya. (2015, April 24) Why Chian’s “One Belt, One Road” Initiative matter

For Asia. Azernews. www.azernews.az/analysis/80980.html.

4. Ministry of Finance. 2014. Pakistan Economic Survey 2013-2014.

www.finance.gov.pk/survey/chapters_14/08_Trade_a nd_Payments.PDF

5. Ali, Syed. Muhammad. (2015, June 19). The Far Reaches of the Corridor. The

Tribune. Islamabad.

6. Jawad, Rana. (2013, July 5). Chinese firms ready to invest billions of dollars in

Pakistan. The News.Karachi.

7. Sial, Safdar. (2014).The China-Pakistan Economic Corridor: An Assessment of

Potential Threats and Constraints. Conflict and Peace Studies, Vol.6, No.2, p. 24.

CPEC: Challenges and Opportunities for Pakistan 167

8. Rana, Shahbaz. (2015, April 16).Eastern corridor route: Pakistan, China to sign

infrastructure financing deals. TheTribune. Islamabad.

9. http://forpakistan.org/fpdata/costs-and-benefits-ofcpec.

10. www.economist.com/news/asia/21653657-conflictbalochistan- must-be-resolved-

trade-corridor-betweenpakistan- and-china-bring

11. http://tribune.com.pk/story/873432/baloch-ireprompts- security-fears-for-china-

pakistan-economiccorridor.

12. www.economist.com/news/asia/21653657-conflictbalochistan- must-be-resolved-

trade-corridor-betweenpakistan-and-china-bring

13. http://www.ipripak.org/cpec-and-the-baluchistan factor/#sthash.05TR0DCE.dpuf

14. Ahmad, Waqar. (2015, 14 July). Balochistan, CPECanotherview. The Daily Times.

Islamabad

15. www.zameer36.com/why-baloch-leader-opposes-cpec/

16. www.economist.com/news/asia/21653657-conflictbalochistan-must-be-resolved-

Trade-corridor-betweenpakistan-and-china-bring
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baluchistanfactor/#sthash.05TR0DCE.dpuf

18. Staff Report.(2015,7 February).Committee criticizes NHA chief for Changing

Economic Corridor route. The Dawn Pakistan Vision Vol. 16 No. 2 168

19. Staff Report. (2015, 7 February).Committee criticizes NHA chief for Changing

Economic Corridor route.The Dawn 35 Falak, Jawad. CPEC: Internal Significance

and Challenges www.stratagem.pk/strategic-pulse/cpecinteranl- significance-and-

challenges

20. www.earning.sohu.com/20150818/n419141644.shtml

21. Falak, Jawad. CPEC: Internal Significance and Challenges

www.stratagem.pk/strategic-pulse/cpecinteranl-significance-and-challenges

38 Rana, Muhammad. Amir. (2015, 17 May). Economic Corridor Challenges. The

Dawn

22. Falak, Jawad. CPEC: Internal Significance and Challenges

www.stratagem.pk/strategic-pulse/cpecinteranl-significance-and-challenges

23. www.brecorder.com/taxation/181:pakistan/ 1251063: energy-projects-under-cpec:-

china-concerned-at-taxpower-tariff -security-issues

24. www.brecorder.com/taxation/181:pakistan/ 1251063: energy-projects-under-cpec:-

china-concerned-at-taxpower-tariff-security-issues

25. www.forpakistan.org/fpdata/costs-and-benefits-of-cpec

26. Jabri, Parvez. (2015).CPEC projects to benefit all provinces of Pakistan: Chinese

envoy. Associated Press of Pakistan. www.brecorder.com/top-news/108- pakistan-

top-news/240096-cpec-projects-to-benefit-allprovinces- of-pakistan-chinese-

envoy.pdf

27. www.voice.pk/business/energy-crisis-in-pakistan
28. Akram, Munir. (2015,26 April) The cup and the lip.The Dawn

29. Staff report. (2015,19 April). Chines investment to help eliminate energy crises:

Shahbaz. The Dawn 54 kiani, Khaleeq,( 2015,20 April).Chines president due today

on Historic visit. The Dawn

30. kiani, Khaleeq. (2015, 20 April). Chines president due today on Historic visit. The

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31. Kiani, khaleeq. (2015, 3 June). 3bn people to benefit from CPEC: Dar. The Dawn.61

Hali, S. M., WHO.(2015,17 March).Benefits from Cpec. Daily Times.

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