Black market is an underground market in which goods were buy and sell using illegal means of transport whereas grey market is not all illegal. In other words good and services traded through illegal channels through which mostly brands products, drugs, weapons, people, and counterfeit products to human organs, animals, currency, and fuel. These markets were formed when there is a demand as well as a possible supply, even though it is illegal, simply hidden from records or not written. The reasons in Pakistan are the same as anywhere else, even though, like any developing nation, law enforcement is weak and therefore these markets exists. Three types of legal market exist: one Black Market (includes transfers that clearly violate national and for international law means there is no official or convert governmental consent or control), secondly Craft Production (small scale, hand-made construction of simple weapon or copies of existing ones in private workshops or home without legal authorization and third Grey Market (includes hidden policy agenda or broken ethics transfers conducted by government or sponsored by government i.e. it may be action or behalf of the government. Mainly two type of illegal means regulate this trade, in which products are available commonly but are at very high cost so same stolen or smuggled products are available in illegal market at low cost same due to no expense or no tax applied and secondly if a product is not available in illegal market due to shortage, may be available in black market but at very high cost but still people buy it. Thus these markets let to loss of legitimate industries, misguide national income, lesser governmental revenue and creation of product shortage. Owing to its illegal nature, any kind of products can be sold in there, as there is nobody to ask how and why, as these market are illegal in nature, and all the transactions that happen therein, are off the record so in the absence of any authentic record, it is very difficult for the government to correctly estimate the actual economic status of the country the consequently it becomes immensely difficult for the government to plan and implement policies for the country’s economic development.
The China-Pakistan Economic Corridor is opening attractive avenues for investment emerging from economic cooperation between the two rising powers of Asia with extensive roads, railways, ports, and energy infrastructure being laid down businessmen all around Pakistan are finding new opportunities that are worth their money and time. The Corridor is granting enhanced connectivity and power to the otherwise diffracted and energy hungry economic centers of Pakistan. With many projects having entered their realization phase and many more being developed on fast-track as part of the Early Harvest Projects, multiple business opportunities across the value chains of industry are set to open up and a best set toward development. Illegal market dealer all around the globe have influenced by this Corridor, not only they will be able to transport their goods and services in short time period with less taxation but also they feel secure about their product because China-Pakistan Economic Corridor have coordination with army. Chinese and Pakistani military coordination gave a strong feeling of protection and full support to all businessmen and also to their products which will be traded through this Corridor. Check and balance will be at first priorities so no one claimed any complains concerning trade and protection of products.
Prospectus businesses facilitated by the China-Pakistan Economic Corridor can be categorized as: Mechanized farming, Electricity-operated cottage industry, High-capacity industrial units, Factory market road transportation and distribution services, Rail-supported bulk transit of goods, Construction services for energy, road, and rail projects through government tender, Dry ports along the CPEC routes, Storage facilities for transit goods, Storage facilities around the Gwadar port, Storage facilities around the Havelian dry port, Storage facilities around the Gwadar International Airport, Rest houses across the CPEC route and Gwadar International Airport, Restaurants across the CPEC route and around other project sites, Taxi-services at the airport, sea ports, and dry ports, Taxi-services to and from the terminals of Lahore Orange-line Metro, Consultancy and brokerage services for Chinese and Pakistani investors, Medicinal distribution and supply networks to and from the China-Pakistan Friendship Hospital in Gwadar, Human Resource and recruitment agencies linked to the Pak-China Technical and Vocational Institute in Gwadar. The above mentioned business opportunities are not exhaustive and the Corridor has room for all scales, sizes, and forms of investments. It is being termed as a game changer that would not only strengthen the overall economic outlook of Pakistan and China, but also facilitate the strengthening of the business communities of the two countries at a micro-level and a step towards development that boost economy. Not only China and Pakistani business man are interested but all around the world businessmen wants to seek this opportunity without any risk of embargos or heavy taxation but also with the sense of securing product they influenced through this Corridor due to military corporations. Thus all kind of businessmen have opportunity not only to enhanced there business but also quitting all kinds of illegal trading and get linked with this Corridor to assure their business in safe hands.
by Maryam Waheed