Syed Waqas Haider Bukhari, Musarrat Jabeen and Qaim Raza Jaffry
Syed Waqas Haider Bukhari is pursuing his PhD in International Relations from the Department of International Relations, National Defence University, Islamabad.
Dr Mussarat Jabeen is Associate Professor in the Department of International Relations, National Defence University, Islamabad.
Dr Qaim Raza Jaffry is Director Libraries and Information Services, research supervisor and faculty member at the National Defence University, Islamabad.
DOI: http://DOI Number
Keywords: BRI, CPEC Energy, Theory of Institutions, energy crisis, energy crisis management
Abstract
Energy security is essential for the economic development of a state. At present, Pakistan is facing an energy shortfall of 6,000 to 7,000MW. This chronic scarcity has severely affected social lives and economic activity in the country. Energy is the pivot of the Belt and Road Initiative (BRI), with an estimated total investment of $4 trillion. China-Pakistan Economic Corridor (CPEC), an integral part of the BRI, is an investment of $62 billion. CPEC apportions $34 billion for the energy sector. Institutional management of CPEC energy will help mitigate the causes of scarcity of energy in Pakistan. Energy portfolio of CPEC is based on coal, hydroelectric, solar, and wind power. Energy production under CPEC is focusing on renewable energy sources alongside non-renewable sources to ensure an affordable, sustainable, and reliable energy mix. This paper argues that cheap energy through CPEC will help address the issues of circular debt. Through CPEC energy projects, Pakistan’s reliance on both expensive furnace oil and seasonal hydropower will be diversified towards renewable energy technologies. The paper further argues that CPEC energy projects will boost the energy sector of Pakistan by addressing energy scarcity and improving the socio-economic condition of the country.
First Published
September 25, 2018
How to Cite
Syed Waqas Haider Bukhari,
Musarrat Jabeen, and Qaim Raza
Jaffry, “Energy Dynamics of China-Pakistan Economic Corridor (CPEC) ,” Regional Studies 36, no.3 (Autumn 2018): 99-122,
https://regionalstudies.com.pk/wp/article/energy-dynamics-of-china-pakistan-economic-corridor-cpec/
Issue
Volume 36, Issue 3