BEIJING: Approximately 1.2 million jobs could be created indirectly in Pakistan because of agreed projects under the China-Pakistan Economic Corridor (CPEC), experts said here on Thursday.
The CPEC has been blamed for causing a debt trap and economic distress in Pakistan, but facts have proved that the recent surge in Chinese investment is yielding employment benefits.
This is a hard-won achievement, but 1.2 million jobs aren't enough. While the first phase of the CPEC concentrated on infrastructure projects, the second part should focus on employment creation by setting up special economic zones (SEZs) and supporting economic integration.
According to the report, the CPEC needs to accelerate the shift of its focus to provide more jobs for Pakistani people. Although there has been much controversy about the CPEC over issues such as an uneven distribution of interests among Pakistani people, the project can only move forward. But it won't be plain sailing due to challenges such as Pakistan's foreign exchange crisis and security problems, and people should be prepared for potential setbacks. However, as long as the CPEC creates a lot of jobs, it will win the favor of Pakistani people.
The construction of transportation infrastructure under the CPEC framework has created many jobs for local people. This is obviously good news for the country's poverty alleviation campaign. However, infrastructure work provides mainly limited-term employment.
It takes time to complete infrastructure construction, but the country will see a substantial decrease in job creation in the future if it relies heavily on infrastructure construction to generate employment. With about 200 million people, Pakistan needs long-term employment opportunities. -
Russia will surely make greater achievement in national development and construction under Putin’s leadership, Xi said
Various groups have targeted companies and political parties in Britain, causing damage to property in order to raise...
Some of these serious violations of human rights thus rose to the level of crimes against humanity
Yoon said countries had a duty to share experiences and wisdom so that artificial intelligence and technology could be...
The Supreme Court gave the state-run lender until Thursday to provide the Election Commission of India with the unique...
As per the statement, the repetition of performing Umrah has been banned during Ramazan to ease overcrowding and...