ISLAMABAD: Prominent scholar and expert in Pakistan-China relations, Dr. Zafar Nawaz Jaspal, has advocated that the China-Pakistan Economic Corridor (CPEC) holds greater significance than the Marshall Plan for Europe in terms of investment and importance.
In an interview, Dr. Jaspal stated, “The Marshall Plan was a monumental initiative by the United States to aid in the economic recovery of Europe after World War II.”
He commented that while the Marshall Plan involved substantial financial assistance, it was primarily focused on a specific region. In contrast, CPEC represents a broader and more complex investment strategy.
Dr. Jaspal added that CPEC is not only about financial investment but also includes infrastructure development, energy projects, and trade facilitation. The scale of investment and the range of projects under CPEC are unprecedented.
“The Chinese commitment to CPEC spans multiple sectors, including roads, railways, and energy, which collectively promise to transform Pakistan’s economy. The sheer scale of this investment exceeds that of the Marshall Plan in terms of direct financial commitment and its potential impact on the regional economy,” he said.
Responding to a question from anchor Abdul Ghani, Dr. Jaspal noted that there have been concerns about security risks. However, he emphasized that the Chinese government has expressed a strong commitment to ensuring the safety and security of CPEC projects. Pakistan is also actively involved in protecting these investments.
“Both countries are working closely to manage and mitigate any potential threats. The collaborative efforts between China and Pakistan underscore the strategic importance both nations place on CPEC,” he added.
Dr. Jaspal further explained that Pakistan has been diligently working on multiple fronts. The government is focusing on creating a conducive environment for investment, improving infrastructure, and addressing regulatory challenges.
Efforts are also ongoing to enhance the efficiency of key projects within CPEC, such as the development of Gwadar Port.
“These steps are crucial for maximizing the economic benefits of CPEC and ensuring its long-term success,” he highlighted.
Dr. Jaspal elaborated that Gwadar Port is strategically located and has the potential to become an international business hub. Its deep-water capabilities and location at the crossroads of major maritime routes give it a significant edge.
“The port’s development under CPEC aims to enhance connectivity between the Middle East, Central Asia, and South Asia, facilitating trade and investment. If fully realized, Gwadar could significantly boost Pakistan’s trade and economic profile on the global stage,” he concluded.
