Ayesha Sadiq, a Master's student at the China Institute for WTO Studies, WTO Chair at UIBE, and Aftab Haider, a PhD scholar in International Law at Southwest University of Political Science and Law, Chongqing, have co-authored a research study titled Statistical Analysis of the Potential Benefits of the Belt and Road Initiative (BRI) for Pakistan. This study, published in the Pakistan Journal of Law, Analysis, and Wisdom, provides a detailed look at how the BRI, especially through the China-Pakistan Economic Corridor (CPEC), has affected Pakistan’s economy, infrastructure, and trade.

The research highlights significant economic growth driven by the BRI. Foreign Direct Investment (FDI) in Pakistan has increased by 60% since the beginning of CPEC, contributing around 2% annually to the nation’s GDP. The development of infrastructure, such as roads and railways, has helped cut transportation costs by 30%, improving both domestic and international trade flows. In the energy sector, BRI projects have added 10,000 MW to the national grid, helping to reduce Pakistan’s power shortages and support industrial growth.

Job creation is another positive impact of the BRI, with over 75,000 direct jobs expected from CPEC projects, and the development of Special Economic Zones (SEZs) expected to create up to one million jobs by 2030. Moreover, Gwadar Port’s development is expected to significantly boost trade, with projected revenues of $5 billion by 2025.

However, the study also points out some important challenges. Both Pakistan and China need to work together to address the rising debt-to-GDP ratio in Pakistan, which has reached 78%. Sustainable and inclusive policies will be crucial to ensure the benefits of BRI projects are shared fairly across society. The environmental impact of certain projects, such as coal-fired power plants, is another issue that needs careful consideration. Both countries must focus on finding solutions that balance economic development with environmental sustainability.

The research suggests that Pakistan can further benefit from BRI by seeking funding from diverse sources, improving vocational and higher education to build a skilled workforce, and prioritizing renewable energy projects for long-term sustainability.

Find out more about the publication: https://pjlaw.com.pk/index.php/Journal/article/view/v4i1-44-51