The “Belt and Road” is the shorthand expression for the initiative of “Silk Road Economic Belt” and “21st Century Maritime Silk Road” proposed by China which is an ambitious grand strategic enterprise with consequential significance. The prime motivation behind this vision is making sincere contributions to the regional and global economic development by reviving the spirit of ancient “Silk Road”. The initiative has drawn great global attention with mixed reactions. Some regard this as one of China's geopolitical strategies, while others perceives it as Chinese version of the Marshall Plan. The overarching vision of “One Belt One Road” has been linked by tributaries through corridors to facilitate the inaccessible countries and the regions. China – Pakistan Economic Corridor (CPEC) is one such momentous undertaking linking Pakistan with this esteemed project. While benefits of CPEC have been much debated, however, rising concerns over its geopolitical aspects have also gained equivalent prominence. Pakistan has suffered immensely from geopolitical rivalries of great powers in last three decades, therefore, cannot afford yet another great game played out on its mainland. The aim of this paper is to highlight the conceptual dimensions of “One Belt One Road (OBOR)”, and to analyze its challenges from realist paradigm and suggest workable policy options in making CPEC as one of the dividends for future generations of Pakistan.