CPEC to generate 1.2m jobs by 2030: study

ISLAMABAD: China Pakistan Economic Corridor (CPEC) has a potential to create a total of 1.2 million direct jobs through its currently 42 agreed projects by 2030.

With the inclusion of new projects under CPEC’s long-term plan in sectors like agriculture, tourism, mineral processing, oil and gas and services, the job portfolio is likely to be enhanced manyfold, a study conducted by the Center of Excellence for CPEC said.

The study revealed that out of actual jobs created under CPEC projects so far, 29,674 jobs have been created in three road projects, while 1,294 employees were engaged in the 820 long optical fibre project.

Similarly, 22,900 direct jobs have been created in five energy projects and 1100 jobs were created in one project of Gwadar.

Furthermore, according to an estimation projected by the study, 1800 jobs are expected to be created in two road projects, while 14,400 direct jobs would be generated in upgradation of railways Mainline-1 project.

According to the estimation of the study, 11 new projects in Gwadar city to be initiated soon would produce 76000 direct jobs.

The 11 new project include development of free zone, new Gwadar International Airport, Gwadar East-Bay Expressway, dredging of berthing areas and channels, construction of breakwater, Pak-China friendship hospital, technical and vocational institute, Gwadar smart port city master plan, Bao steel park, petrochemicals, stainless steel and other industries in the city, development of Gwadar University, and upgradation and development of fishing, boat making and maintenance services to protect and promote livelihoods of local population.

The 16 energy projects would also produce 5,0828 jobs while nine Special Economic Zones (SEZs) to be constructed in various parts of the country would produce 1,021,396 direct jobs in the country.

The study said that among the total direct jobs to be generated, a huge chunk of share would go to Pakistani individuals, however, it suggested that Pakistani individuals would need more technical training to fulfil their job requirements.

“The crux of the matter for any economy is the mismatch of skills. In which, the workforce exists, the positions in the job market are vacant, but, the unemployment rate remains unaffected,” the study said adding “the expertise acquired by the workers are not consistent with the job market.

As a result, there exists a gap between the practitioners and the academics, while the students of today cannot take firm decisions for their career path.”