Unveiling the Economic Potential: CPEC's Path to Creating 1.2 Million Jobs by 2030
The China Pakistan Economic Corridor (CPEC) holds the potential to generate a substantial 1.2 million direct job opportunities by 2030, thanks to its current slate of 42 approved projects. However, this economic lifeline is poised for exponential expansion as CPEC's long-term plan incorporates new ventures spanning agriculture, tourism, mineral processing, oil and gas, and services, as per a comprehensive study conducted by the Center of Excellence for CPEC.
P.c Pakistan Today
Within the existing CPEC projects, the study unearthed 29,674 job placements within three road projects, with an additional 1,294 individuals employed in the extensive 820-kilometer optical fiber undertaking. Likewise, five energy initiatives have spurred 22,900 direct jobs, while the strategic Gwadar project has contributed 1,100 positions.
The study's forward-looking estimates predict the creation of 1,800 positions within two upcoming road projects and a substantial 14,400 direct employments emerging from the Mainline-1 railway upgrade.
Gwadar, in particular, is set to undergo significant transformation with 11 imminent projects, poised to deliver a remarkable 76,000 direct jobs. These initiatives encompass a free zone, a cutting-edge Gwadar International Airport, Gwadar East-Bay Expressway, berthing area and channel dredging, breakwater construction, Pak-China friendship hospital, technical and vocational institute, Gwadar's smart port city master plan, Bao steel park, petrochemical and stainless steel industries, the development of Gwadar University, and improvements in fishing, boat manufacturing, and maintenance services to safeguard and advance the livelihoods of the local populace.
Additionally, the 16 energy projects are projected to create 50,828 employment opportunities, while the construction of nine Special Economic Zones (SEZs) in various regions of Pakistan is anticipated to yield an impressive 1,021,396 direct jobs.
However, the study underscores the necessity for enhanced technical training among Pakistani individuals to meet the job requirements, as it observes, "The key challenge lies in the mismatch of skills—available workforce, vacant positions in the job market, yet a persistent unemployment rate." It underscores the discord between the expertise possessed by workers and the needs of the job market, highlighting a gap between practitioners and academics. Consequently, it calls for today's students to make more informed career choices to bridge this divide effectively.