http://thediplomat.com/2015/12/a-miracle-on-the-indus-river/
The China-Pakistan Economic Corridor has the potential to transform Pakistan’s economy.
By Ahmad Rashid Malik, December 07, 2015
The Indus River is known as the lifeblood of Pakistan’s economy. Great ancient civilizations were formed along the Indus River, including the Gandhara and Mohenjodaro. Pakistan’s economy will continue to rely on the River Indus but a new dimension has been added. Now the China-Pakistan Economic Corridor (CPEC) is bringing a sharp transformation. It is offering the tantalizing prospect of an Indus River miracle to match those on the Yellow River (China) and Han River (South Korea).
Pakistan can also learn much from Japan, Singapore, and Malaysia. The government has its sights on becoming the 25th largest economy in the world. The CPEC project has become a full spectrum project. Learning from the Asian miracle economies by sharing experiences is essential if a prosperous new Indus River civilization is to emerge.
First, the flagship project, the CPEC itself, will be the pilot project of China’s massive One Belt, One Road (OBOR) vision initiated by President Xi Jinping in 2013, which will build 21st century maritime and land routes across Central Asia, South Asia, Southeast Asia, Africa, and the Middle East. This is a milestone in global connectivity, building the physical infrastructure for sustainable economic development, encouraging trade and investment and contributing to a more peaceful world. The vision behind the OBOR is admirable.
A number of practical measures for the CPEC are already underway. During his visit to Pakistan Premier Li Keqiang in May 2013 disclosed the CPEC plan. A memorandum of understanding (MoU) was signed in July 2013 after Prime Minister Nawaz Sharif visited Beijing. Xi paid an historic visit to Pakistan in April this year where he announced $46 billion in investment for the numerous projects of the CPEC, signing as many as 51 MoU with priority given to energy projects – which received $30 billion – and transportation projects. A CPEC Unit was then created within the Prime Minister’s office and the Ministry of Planning, Development, and Reforms was given the daunting task of rapidly executing CPEC projects in collaboration with its Chinese counterpart, the National Development and Reform Commission.