February 25, 2021
CPEC to be developed

CPEC to be developed as a green belt and road initiative model

Pakistan and China agreed on Monday to transform the China-Pakistan Economic Corridor (CPEC) project into a model green belt and road initiative to maintain and protect the natural environment of the region, according to news reports. The decision was taken after a meeting between Malik Amin Aslam, Special Assistant to the Prime Minister (SAPM) on Climate Change, and a three-member delegation led by China’s Ambassador to Pakistan, Nong Rong. Several important green agendas’ were addressed at the conference, including climate adaptation, environmental protection, green economic recovery, clean energies, air quality, reduction of catastrophe risk and water conservation. SAPM Amin briefed the meeting on the goal of the ‘Clean Green Pakistan Index’ of the government; stating that the project aims to increase the protected area of Pakistan to over 15% from the current 13% and generate 5,000 green jobs opportunities in the region. In addition, the Chinese ambassador claimed that his government was committed to extending support to the vision of Prime Minister Imran Khan and his green economic recovery plan post-COVID-19 to restore people’s livelihoods. The China-Pakistan Economic Corridor is a strategic link in which not only would China and Pakistan benefit from CPEC, but it will also have a positive effect on Iran, Afghanistan, India, the Central Asian Republic and the region. CPEC has certainly transformed the lives of individuals in so many parts of Pakistan. If it is finished, CPEC will bring about a revolution. China-Pakistan Economic Corridor (CPEC) projects are being undertaken in the least developed province of Balochistan at a competitive pace with other provinces. Balochistan is more important with respect to the CPEC. China has always been in favour of the swift execution of CPEC projects in Balochistan. CPEC has also revolutionized the Real Estate Industry. Pakistan’s real estate market has successfully caught the interest of developers from around the world who are willing to search for an investment opportunity due to the phenomenal success of CPEC. When the country’s economy will improve, the demand for housing would definitely rise and a huge part of the land would be required to fulfill this need. With more individuals being able to buy property, the Real Estate Sector would flourish. After 2020, when the road belt will be usable, the real effect of CPEC on Pakistan’s real estate will be seen. This is why CPEC is called upon to be a game-changer for Pakistan’s entire area and real estate market.

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