Abstract:
Role of construction sector in development of infrastructure is inevitable. The construction industry remains the key player in achievement of basic infrastructure
and ultimately in social prosperity as well as economic stability. It is one of the
pillars of economy which directly related to GDP and industrial growth of Pakistan. However, current status of Pakistan construction industry is not performing
to its true potential. Among many factors, the lack of foreign direct investment
(FDI) is one of the key factors in such performance. The recent developments of
China Pakistan economic corridor (CPEC ) is one of the major sources of FDI
which will provide opportunities for all sectors of the economy including infrastructure, railway, energy production, agriculture, aviation, construction industry,
etc. However, the true potential remains to be explored. The current research
explores the impacts of CPEC on uplift and development of construction industry
of Pakistan. The objective of the study was to evaluate the impact of identified
factors on local construction industry. After a comprehensive literature review,
different impacts factors were identified. These factors were then categorized into
different impact areas. Based upon these areas, a questionnaire was developed and
authenticated by using Delphi technique. The developed questionnaires was distributed among industry professionals of different organizations to assess impact of
CPEC on the factors affecting the development of Pakistan. The study received a
response rate of 72%. The response of industry experts was analyzed using statistical analysis package SPSS. The application of ranking factor analysis highlighted
that the development of human skill the most important factor to be affected by
CPEC .Similarly, the frequency analysis observed that human skill development
achieved the highest score (3.77) followed by project management practices (3.71).
The overall results of this study helped to prioritize factors to support uplift the
construction industry of Pakistan. These prioritized list of factors referred to the
construction industry of Pakistan that has not still been established.
