Soon after the new government PTI came into power, a rumor started to make rounds in the conventional as well as social media that the government wants to renew the arrangement under which the CPEC was initially kicked off. Pakistan’s Foreign Minister Shah Mahmood Qureshi met Chinese Vice President Wang and expressed commitment of the current Imran Khan-led Pakistan Tehreek-e-Insaf (PTI) government to the China-Pakistan Economic Corridor (CPEC).

Shah Qureshi also expressed Prime Minister Imran Khan’s eagerness to attend the second Belt and Road Forum in China scheduled for next month. He once again acknowledged the traditional friendship which both Pakistan and China have enjoyed over the course of a decade, thanking Chinese vice president for aiding to ease the tensions followed by a recent skirmish between India and Pakistan. The meeting called the Silk route of the 1st century because of the vast stretch of both continents it covers for the primary purpose of trade.

There is a general perception revolved around the view that the PTI leadership was not happy with the derivatives of mega project heavily inclined towards the Chinese companies while Pakistan would be receiving a small share of the profit. The Country Prime Minister Imran Khan’s adviser for commerce, textiles, industry and investment Abdul Razzak Dawood gave an interview to Financial Times in which he was quoted as saying,

“The previous government did a bad job negotiating with China on CPEC, they didn’t do their homework correctly and didn’t negotiate correctly so they gave away a lot.” It came as a shock to China as it was a matter of billions of dollars for the Chinese government and companies if any decision of reviewing the CPEC arrangement was taken. Soon after, PM adviser for commerce, textiles, industry and investment clarified that certain parts of his statement were taken out of context by the Financial Times and that Pakistan was not mulling to halt projects under the CPEC for any reason.

The idea behind make revenue so far has centered on the transit which the CPEC routes would carry, including both via sea and land. Though it is still significantly a good expected sum, the government of Pakistan needs to develop economic zones alongside the CPEC land routes to multiply its gains.  It would not only create the requisite number of jobs for Pakistani and Balochistan youth but help establish the industrial base of the country which is a dire need given the precarious state of the national economy. So far, Government is working around the mediocre extent of all three major economic modes i.e.

agricultural, industrial and services. The policies are too irregular to paint a clear picture as to how the policymakers are actually planning to take Pakistan economy ahead and via which mode. The decision should be made sooner rather later as the CPEC has a lot of intact potential which can be utilized for creating jobs for Pakistanis and Balochistan youth.

Pakistan-China has further strengthened their strategic partnership via CPEC but there are also reservations over the way China conducts its business. These concerns are toughened via the incidents such as the China takeover of Sri Lankan Hambantota port for struggling to pay the debt. It is requisite to make sure that the CPEC is mutually beneficial in the long run for both Pakistan and China, for the partnership to continue the way it is and has ever been.