Now, Pakistan digs up $680 million scam linked to China's CPEC

WION New Delhi, Delhi, India May 20, 2020, 09.38 PM(IST) Edited By: Palki Sharma

File photo of Pakistan's Prime Minister Imran Khan and his Chinese counterpart Xi Jinping. Photograph:( Reuters )

Story highlights

The money trail leads all the way to China and it involves two Chinese power producers Huaneng Shandong Ruyi energy or HSR and Port Qasim Electric Power Company Limited.

China cannot be trusted. The dragon scams all - friends or foe. The realisation recently dawned upon China's all-weather ally - Pakistan.

Chinese businessmen scammed Pakistan of $630 dollars. At the centre of the scam was the China-Pakistan economic corridor(CPEC).

When China said CPEC, Islamabad didn't know that the 'c' at the end stood for conning. A committee looking into the losses in Pakistan's power sector has dug out a $625 scam.

The money trail leads all the way to China and it involves two Chinese power producers Huaneng Shandong Ruyi energy(HSR) and Port Qasim Electric Power Company Limited.

Both companies are connected to CPEC power projects. The allegations against them are of violation of standard procedure and malpractices. Both Chinese plants showed excess set-up costs for extra profits. They were earning annual profits of up to 50 to 70 per cent. The cost was borne by the consumers of Pakistan.

In Karachi, residents are paying up to 17.69 Pakistan rupee per unit of electricity. These skyrocketing costs compelled PM Imran Khan to order a probe.

A 278-page report unearthed the Chinese electricity scam. The Dragon is stealing power in Pakistan and the shock should compel Islamabad into checking its bill with China.

But Imran Khan can do nothing, the CPEC has close links with Pakistan's military. Retired Pakistani Lt. General Asim Saleem Bajwa chairs the CPEC authority, also Imran Khan will not dare to take on the Chinese firms.

Bajwa is also the Prime Minister's assistant on information and broadcasting which means he will ensure that Imran Khan does not address the scam in public. It will be hushed up. Like a lot of other things in Pakistan.