1- Thar coal power plant achieves commercial operations. 2- Court issues notice to Maryam over fake trust deed. . 3- Pakistan to get $1.65 billion net receipts out of $6 billion IMF package.

CPEC and Karachi's development

Posted on June 3, 2018 at 01:00 PM

China Pakistan Economic Corridor (CPEC) defines the future of Pakistan’s development and has become a pivotal aspect of the progress of Pakistan. It has defined a unidirectional approach which boosts the transformation of the local economy and bringing the new age of development for Pakistan. Pakistan is going through the period of economic development and revolution, which brings a hope for Pakistani youth.

CPEC is a project which is totally dependent on the port of Gwadar, as well the importance of Karachi port and Bin Qasim port got the importance with the most innovation, expanding their drilling capability, and modernization of the port administration has raised the chance of success for CPEC. It’s also expected that other parts of Baluchistan and Gwadar will be brought under China Pakistan Economic Corridor (CPEC) development. It covers equally lucrative ports like Ormara, Pasni, Gaddani and Jiwani ports.

Pakistan covers 1047 kilometre coastline which is directly connected with the coastline of Strait of Hormuz. About 36000 cargo ships navigate through these waters and 15 million barrels of oil and other cargo go through these sea routes. Currently Pakistan has developed the largest container dockyard and still, Pakistan is dependent only on Karachi and Port Qasim for trade purposes. Though the prime beneficiary of CPEC will be Pakistan which will be developed through Gwadar port, until it is fully developed to not only surpass Karachi, most of the trade will continue to originate from Karachi. Federal and provincial government have laid the foundations of various projects which will expand the revenue of Pakistan and current example is the installation of Bin Qasim coal power plant.

95% of Pakistan’s exchange is seaborne and only 16 percent of exchange is taken care of by Pakistan’s own national bearer. Most of the exchange transactions rely on private corporations and though no dispute happened with port authorities over any issue. Pakistan can take more benefit if the national bearer could employ more ships and boats in its fleet to carry out operations. Both the governments of Pakistan need to realize the necessity of developing and fortifying Pakistan’s naval assembly to ensure ocean paths of Pakistan conveying Pakistani and international stock and to stop terrorism originating from foreign lands through sea routes.

Pakistan’s industry and economy reliance were totally driven with an emphasis on the agrarian outlook, however, with the development of Special Economic Zone to with 360 nautical miles and Pakistan has gained a major opportunity to expand its dimensions with respect to the internal fiscal framework. In order to ensure the safety of Karachi and Gwadar port, it is critically important for Pakistan to prepare a force that is trained and knowledgeable in the art of maritime defence. As Pakistan Maritime Academy has been designed to task and further solidify its expertise with NED University and world maritime university.

Pakistan Maritime Academy offers the most recent courses in maritime and naval affairs as indicated by quality principles and to tackle any situation. Pakistan and China signed an agreement to further train the students according to the requirements of CPEC and international standards.

The internal substructure is the basic need to modernize the maritime infrastructure. Chief Minister Murad Shah has revealed for the infrastructure of Karachi by expanding it and term Karachi as a symbol of modern metropolitan. CM focused to expand the Karachi Circular railway, developments of underpasses and Green Line Bus Service, setting up of another market in the Lee market zone, renovation of Cantt station, cricket stadium, the Expo Centre, SSGC’s headquarters and the Civic Centre.

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