Interpol, the France-based global police agency, is supposed to find missing or wanted people. Last week, to its embarrassment, it said it couldn’t locate its own president, Meng Hongwei, who was on a visit to China. Beijing finally revealed on October 7 that Meng had been detained on arrival. A former Chinese vice-minister, he is being investigated on charges of corruption and has resigned from Interpol.

The incident raises questions about the legitimacy of China’s rise as the world’s pre-eminent superpower, seizing that mantle from the United States. Three other developments could stall China’s rise. First, the trade war with the US which is going badly for Beijing. US Defence Secretary James Mattis’ official visit to China has been called off though Secretary of State Mike Pompeo visited Beijing earlier this week to calm tempers. Washington has meanwhile imposed a second round of tariffs on Chinese exports valued at $200 billion. Since China buys only about a third of what it sells to the US, it has little economic leverage to fight back. The escalating trade war could shave a full percentage point off China’s GDP growth rate in 2018-19.

The second headwind facing China are growing concerns over the viability of its ambitious $500-billion Belt and Road Initiative (BRI). Dubbed China’s ‘new Silk Route’, the BRI is President Xi Jinping’s brainchild. He has invested so much political capital in the BRI that any setback to it could spark domestic opposition to his tenure as president for life.

When Sri Lanka couldn’t repay high-interest Chinese debt for building infrastructure at the Hambantota port, China simply took it over on a 99-year lease. Malaysia was next. Prime Minister Mohamad Mahathir on a visit to China defied protocol to publicly cancel or rework a slew of Chinese infrastructure projects in Malaysia worth $23 billion.

Pakistan soon followed. Over the past week, ministers in the Imran Khan government have complained about the high-cost debt of projects under the $60 billion China Pakistan Economic Corridor (CPEC), which is a key component of the BRI. Islamabad directed its ire at China’s investment of $8.2 billion to upgrade a railway line from Karachi to Peshawar. Railways Minister Sheikh Rasheed Ahmad said the cost of the project is being cut to $6.2 billion and will later be reduced further to $4.2 billion — half its original value.

For a while, Pakistan’s new government toyed with the idea of inviting cash-rich Saudi Arabia as the third partner in CPEC. Annoyed, Beijing shot the proposal down. It wants the BRI and its cogs like the CPEC to be Chinese-funded, Chinese-owned and Chinese-run. The Pakistani government backed down and said Saudi Arabia would only be involved as a contractor for specific ancillary projects within the CPEC.

With Pakistan’s economy in a shambles, Islamabad is in a bind. It needs China’s funds but has realised that it is rapidly sinking into a debt trap. Other Asian countries are waking up to the threat as well. Myanmar has slashed the cost of its proposed China-funded Kyaukpyu port from $7.3 billion to $1.3 billion. Bangladesh too is downsizing — or cancelling — BRI projects.

In Europe, where Xi Jinping went on a charm offensive, Hungary and other EU countries are developing cold feet over the BRI’s inflated infrastructure costs and high-interest debt. In Africa too, where China is investing heavily, countries like Tanzania are cancelling or resizing BRI projects.

The third factor stalling China’s rise lies closer to home. With the Chinese economy cooling and GDP growth slowing, local infrastructure projects are running ahead of demand. As The Economist recently pointed out, “The infrastructure boom (in China) has lost steam this year. After expanding at a double digit pace for much of the past three decades, investment in it has slowed sharply. Since May, spending on projects ranging from railways to power plants has fallen compared with a year earlier, the longest weak patch on record.”

All this doesn’t mean the BRI is doomed. It will continue to be China’s most ambitious geo-economic initiative, linking the country to the world with a series of interlocking infrastructure projects. But this modern version of China’s historic Silk Route will shrink in size and scope as the complex geopolitical trade battles with the US play out.

India has long opposed the BRI because its CPEC component violates Indian sovereignty in Pakistan-occupied Kashmir (PoK). India watched closely as Washington snubbed Beijing recently by selling arms to Taiwan worth over $330 million. A near-clash last week between a US destroyer and a Chinese warship just beyond the 12 nautical mile exclusion zone off the Spratly islands claimed by Beijing underscores Washington’s determination to not cede ground to China as hegemon of the South China Sea.

Beijing, meanwhile, continues to veto the designation by the United Nations of Jaish-e-Mohammad chief Masood Azhar as a global terrorist. It continues to block India’s membership of the Nuclear Suppliers Group (NSG). Both reveal Beijing’s mala fide intent. But with the global tide turning against it across multiple fronts, China has been pushed on to the back foot. Will that help change its behaviour? Unlikely.

The detention of Interpol’s ex-president Meng Hongwei shows that Beijing continues to behave as a law unto itself.

(This article was originally published on DNA. Read the <a href="https://www.dnaindia.com/analysis/column-silk-route-hits-roadblocks-2673949">original article</a>)

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

&nbsp;

Interpol, the France-based global police agency, is supposed to find missing or wanted people. Last week, to its embarrassment, it said it couldn’t locate its own president, Meng Hongwei, who was on a visit to China.

Interpol, the France-based global police agency, is supposed to find missing or wanted people. Last week, to its embarrassment, it said it couldn’t locate its own president, Meng Hongwei, who was on a visit to China. Beijing finally revealed on October 7 that Meng had been detained on arrival. A former Chinese vice-minister, he is being investigated on charges of corruption and has resigned from Interpol. The incident raises questions about the legitimacy of China’s rise as the world’s pre-eminent superpower, seizing that mantle from the United States. Three other developments could stall China’s rise. First, the trade war with the US which is going badly for Beijing. US Defence Secretary James Mattis’ official visit to China has been called off though Secretary of State Mike Pompeo visited Beijing earlier this week to calm tempers. Washington has meanwhile imposed a second round of tariffs on Chinese exports valued at $200 billion. Since China buys only about a third of what it sells to the US, it has little economic leverage to fight back. The escalating trade war could shave a full percentage point off China’s GDP growth rate in 2018-19. The second headwind facing China are growing concerns over the viability of its ambitious $500-billion Belt and Road Initiative (BRI). Dubbed China’s ‘new Silk Route’, the BRI is President Xi Jinping’s brainchild. He has invested so much political capital in the BRI that any setback to it could spark domestic opposition to his tenure as president for life. When Sri Lanka couldn’t repay high-interest Chinese debt for building infrastructure at the Hambantota port, China simply took it over on a 99-year lease. Malaysia was next. Prime Minister Mohamad Mahathir on a visit to China defied protocol to publicly cancel or rework a slew of Chinese infrastructure projects in Malaysia worth $23 billion. Pakistan soon followed. Over the past week, ministers in the Imran Khan government have complained about the high-cost debt of projects under the $60 billion China Pakistan Economic Corridor (CPEC), which is a key component of the BRI. Islamabad directed its ire at China’s investment of $8.2 billion to upgrade a railway line from Karachi to Peshawar. Railways Minister Sheikh Rasheed Ahmad said the cost of the project is being cut to $6.2 billion and will later be reduced further to $4.2 billion — half its original value. For a while, Pakistan’s new government toyed with the idea of inviting cash-rich Saudi Arabia as the third partner in CPEC. Annoyed, Beijing shot the proposal down. It wants the BRI and its cogs like the CPEC to be Chinese-funded, Chinese-owned and Chinese-run. The Pakistani government backed down and said Saudi Arabia would only be involved as a contractor for specific ancillary projects within the CPEC. With Pakistan’s economy in a shambles, Islamabad is in a bind. It needs China’s funds but has realised that it is rapidly sinking into a debt trap. Other Asian countries are waking up to the threat as well. Myanmar has slashed the cost of its proposed China-funded Kyaukpyu port from $7.3 billion to $1.3 billion. Bangladesh too is downsizing — or cancelling — BRI projects. In Europe, where Xi Jinping went on a charm offensive, Hungary and other EU countries are developing cold feet over the BRI’s inflated infrastructure costs and high-interest debt. In Africa too, where China is investing heavily, countries like Tanzania are cancelling or resizing BRI projects. The third factor stalling China’s rise lies closer to home. With the Chinese economy cooling and GDP growth slowing, local infrastructure projects are running ahead of demand. As The Economist recently pointed out, “The infrastructure boom (in China) has lost steam this year. After expanding at a double digit pace for much of the past three decades, investment in it has slowed sharply. Since May, spending on projects ranging from railways to power plants has fallen compared with a year earlier, the longest weak patch on record.” All this doesn’t mean the BRI is doomed. It will continue to be China’s most ambitious geo-economic initiative, linking the country to the world with a series of interlocking infrastructure projects. But this modern version of China’s historic Silk Route will shrink in size and scope as the complex geopolitical trade battles with the US play out. India has long opposed the BRI because its CPEC component violates Indian sovereignty in Pakistan-occupied Kashmir (PoK). India watched closely as Washington snubbed Beijing recently by selling arms to Taiwan worth over $330 million. A near-clash last week between a US destroyer and a Chinese warship just beyond the 12 nautical mile exclusion zone off the Spratly islands claimed by Beijing underscores Washington’s determination to not cede ground to China as hegemon of the South China Sea. Beijing, meanwhile, continues to veto the designation by the United Nations of Jaish-e-Mohammad chief Masood Azhar as a global terrorist. It continues to block India’s membership of the Nuclear Suppliers Group (NSG). Both reveal Beijing’s mala fide intent. But with the global tide turning against it across multiple fronts, China has been pushed on to the back foot. Will that help change its behaviour? Unlikely. The detention of Interpol’s ex-president Meng Hongwei shows that Beijing continues to behave as a law unto itself. (This article was originally published on DNA. Read the original article) (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

China on back foot as Silk Route hits roadblocks

Pakistan, following in the footsteps of Malaysia and Myanmar, is the latest country to balk at the China and infrastructure focus of Beijing’s Belt and Road-related investments.

Preparing for his first visit to China as Pakistan’s prime minister, Imran Khan is insisting that the focus of the China Pakistan Economic Corridor (CPEC), a $60 billion plus crown jewel of the Belt and Road, shift from infrastructure to agriculture, job creation and foreign investment.

“Earlier, the CPEC was only aimed at construction of motorways and highways, but now the prime &nbsp;minister decided that it will be used to support the agriculture sector, create more jobs and attract other foreign countries like Saudi Arabia to invest in the country,” said information minister Fawad Chaudhry.

Khan’s determination to ensure that more benefits accrue to Pakistan from Chinese investment comes at a time that various Asian and African countries worry that Belt and Road-related investments in infrastructure risk trapping them in debt and forcing them to surrender control of critical national infrastructure, and in some cases media assets.

Preceding Khan’s move, protests against the forced resettlement of eight Nepali villages persuaded CWE Investment Corporation, a subsidiary of China Three Gorges, to consider pulling out of a 750MW hydropower project.

Malaysia has suspended or cancelled $26 billion in Chinese-funded projects while Myanmar is negotiating a significant scaling back of a Chinese-funded port project on the Bay of Bengal from one that would cost $ 7.3 billion to a more modest development that would cost $1.3 billion in a bid to avoid shouldering an unsustainable debt.

Fears of a debt trap started late last year when unsustainable debt forced Sri Lanka to hand China an 80 per cent stake in Hambantota port.

Khan’s move takes on added significance given that Pakistan appears to have decided to ask the International Monetary Fund (IMF) to help it avert a financial crisis with a loan of up to $12 billion and discussions with Saudi Arabia that could produce up to $10 billion in investments that would be separate but associated with CPEC.

Pakistani finance minister Asad Umar is expected later this week to initiate discussions with the IMF during the fund’s annual meeting in Bali. The decision was taken after Saudi Arabia refused to delay Pakistani payments for oil imports, opting instead to build a refinery and strategic oil reserve in the CPEC port of Gwadar.

Pakistani officials see investment by Saudi Arabia as one possible way of facilitating a Pakistani request to the IMF for help. They hope that even an informal association with CPEC of Saudi Arabia, one of the United States’ closest allies in the greater Middle East, may alleviate Washington’s concern that IMF money could be used to repay Chinese debt.

Yet, even that is unlikely to prevent the IMF, backed by the United States, from demanding that the veil of secrecy be lifted that shrouds the commercial and financial terms of many CPEC-related, Chinese-funded projects, as a pre-condition for assistance from the fund.

Apparently concerned about Pakistan’s intentions, China’s deputy chief of mission in Islamabad, Lijian Zhao, insisted in an interview as well as a series of tweets that China welcomed Saudi investment and “always supported&amp; stood behind @ Pakistan, helping #develop it’s #infrastructure&amp; raise #living standards while creating #job.”

Lijian’s comments followed a statement last month by Chinese foreign minister Wang Ji after talks with Khan in Islamabad that appeared to indicate that China, while acknowledging Pakistani demands, would not address them immediately. Wang suggested that CPEC would only “gradually shift to industrial cooperation."

Indications suggest further that China may be looking to Pakistan’s military to shave off the rough ends of the government’s determination to effectively renegotiate CPEC.

Pakistan’s army chief General Qamar Javed Bajwa visited Beijing in August days after commerce minister Abdul Razak Dawood suggested that the government may suspend CPEC projects for a year.

Making his comments shortly after Wang’s departure from Islamabad, Dawood also asserted that the previous government had negotiated terms that were favourable to China rather than Pakistan.

China this week, in a move likely designed as much to strengthen Pakistani counter-terrorism capabilities as a gesture towards the country’s politically influential armed forces, made Pakistan the second country after Saudi Arabia to receive killer drones and the associated technology.

The US has refused to sell its more advanced killer drones to either Saudi Arabia or Pakistan.

The Khan government’s desire to refocus CPEC tackles key issues raised by critics of the project that potentially could impact China’s plan to pacify its troubled north-western province of Xinjiang through a combination of economic development and brutal repression and re-education of its Turkic Muslim population.

The initial plan for CPEC appeared to position Pakistan as a raw materials supplier for China, an export market for Chinese products and labour, and an experimental ground for the export of the surveillance state China is rolling out in Xinjiang.

The plan envisioned Chinese state-owned companies leasing thousands of hectares of agricultural land to set up “demonstration projects” in areas ranging from seed varieties to irrigation technology. Chinese agricultural companies would be offered “free capital and loans” from various Chinese ministries as well as the China Development Bank.

The plan envisaged the Xinjiang Production and Construction Corps introducing mechanization as well as new technologies in Pakistani livestock breeding, development of hybrid varieties, and precision irrigation. Pakistan effectively would become a raw materials supplier rather than an added-value producer, a prerequisite for a sustainable textiles industry.

The plan saw the Pakistani textile sector as a supplier of materials such as yarn and coarse cloth to textile manufacturers in Xinjiang. “China can make the most of the Pakistani market in cheap raw materials to develop the textiles &amp; garments industry and help soak up surplus labour forces in (Xinjiang’s) Kashgar,” the plan said. Chinese companies would be offered preferential treatment with regard to “land, tax, logistics and services” as well as “enterprise income tax, tariff reduction and exemption and sales tax rate” incentives.

For Khan to ensure that Pakistani agriculture benefits, the very concept of Chinese investment in Pakistani agriculture would have to renegotiated.

Similarly, Khan has yet to express an opinion on the plan’s incorporation of a full system of monitoring and surveillance that would be built in Pakistani cities to ensure law and order. The system would involve deployment of explosive detectors and scanners to “cover major roads, case-prone areas and crowded places…in urban areas to conduct real-time monitoring and 24-hour video recording.”

The surveillance aspect of the plan that identifies Pakistani politics, such as competing parties, religion, tribes, terrorists, and Western intervention” as well as security as the greatest risk to CPEC could, if unaddressed, transform Pakistani society in ways that go far beyond economic and infrastructure development.

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Pakistan, following in the footsteps of Malaysia and Myanmar, is the latest country to balk at the China and infrastructure focus of Beijing’s Belt and Road-related investments.

Pakistan, following in the footsteps of Malaysia and Myanmar, is the latest country to balk at the China and infrastructure focus of Beijing’s Belt and Road-related investments. Preparing for his first visit to China as Pakistan’s prime minister, Imran Khan is insisting that the focus of the China Pakistan Economic Corridor (CPEC), a $60 billion plus crown jewel of the Belt and Road, shift from infrastructure to agriculture, job creation and foreign investment. “Earlier, the CPEC was only aimed at construction of motorways and highways, but now the prime minister decided that it will be used to support the agriculture sector, create more jobs and attract other foreign countries like Saudi Arabia to invest in the country,” said information minister Fawad Chaudhry. Khan’s determination to ensure that more benefits accrue to Pakistan from Chinese investment comes at a time that various Asian and African countries worry that Belt and Road-related investments in infrastructure risk trapping them in debt and forcing them to surrender control of critical national infrastructure, and in some cases media assets. Preceding Khan’s move, protests against the forced resettlement of eight Nepali villages persuaded CWE Investment Corporation, a subsidiary of China Three Gorges, to consider pulling out of a 750MW hydropower project. Malaysia has suspended or cancelled $26 billion in Chinese-funded projects while Myanmar is negotiating a significant scaling back of a Chinese-funded port project on the Bay of Bengal from one that would cost $ 7.3 billion to a more modest development that would cost $1.3 billion in a bid to avoid shouldering an unsustainable debt. Fears of a debt trap started late last year when unsustainable debt forced Sri Lanka to hand China an 80 per cent stake in Hambantota port. Khan’s move takes on added significance given that Pakistan appears to have decided to ask the International Monetary Fund (IMF) to help it avert a financial crisis with a loan of up to $12 billion and discussions with Saudi Arabia that could produce up to $10 billion in investments that would be separate but associated with CPEC. Pakistani finance minister Asad Umar is expected later this week to initiate discussions with the IMF during the fund’s annual meeting in Bali. The decision was taken after Saudi Arabia refused to delay Pakistani payments for oil imports, opting instead to build a refinery and strategic oil reserve in the CPEC port of Gwadar. Pakistani officials see investment by Saudi Arabia as one possible way of facilitating a Pakistani request to the IMF for help. They hope that even an informal association with CPEC of Saudi Arabia, one of the United States’ closest allies in the greater Middle East, may alleviate Washington’s concern that IMF money could be used to repay Chinese debt. Yet, even that is unlikely to prevent the IMF, backed by the United States, from demanding that the veil of secrecy be lifted that shrouds the commercial and financial terms of many CPEC-related, Chinese-funded projects, as a pre-condition for assistance from the fund. Apparently concerned about Pakistan’s intentions, China’s deputy chief of mission in Islamabad, Lijian Zhao, insisted in an interview as well as a series of tweets that China welcomed Saudi investment and “always supported& stood behind @ Pakistan, helping #develop it’s #infrastructure& raise #living standards while creating #job.” Lijian’s comments followed a statement last month by Chinese foreign minister Wang Ji after talks with Khan in Islamabad that appeared to indicate that China, while acknowledging Pakistani demands, would not address them immediately. Wang suggested that CPEC would only “gradually shift to industrial cooperation." Indications suggest further that China may be looking to Pakistan’s military to shave off the rough ends of the government’s determination to effectively renegotiate CPEC. Pakistan’s army chief General Qamar Javed Bajwa visited Beijing in August days after commerce minister Abdul Razak Dawood suggested that the government may suspend CPEC projects for a year. Making his comments shortly after Wang’s departure from Islamabad, Dawood also asserted that the previous government had negotiated terms that were favourable to China rather than Pakistan. China this week, in a move likely designed as much to strengthen Pakistani counter-terrorism capabilities as a gesture towards the country’s politically influential armed forces, made Pakistan the second country after Saudi Arabia to receive killer drones and the associated technology. The US has refused to sell its more advanced killer drones to either Saudi Arabia or Pakistan. The Khan government’s desire to refocus CPEC tackles key issues raised by critics of the project that potentially could impact China’s plan to pacify its troubled north-western province of Xinjiang through a combination of economic development and brutal repression and re-education of its Turkic Muslim population. The initial plan for CPEC appeared to position Pakistan as a raw materials supplier for China, an export market for Chinese products and labour, and an experimental ground for the export of the surveillance state China is rolling out in Xinjiang. The plan envisioned Chinese state-owned companies leasing thousands of hectares of agricultural land to set up “demonstration projects” in areas ranging from seed varieties to irrigation technology. Chinese agricultural companies would be offered “free capital and loans” from various Chinese ministries as well as the China Development Bank. The plan envisaged the Xinjiang Production and Construction Corps introducing mechanization as well as new technologies in Pakistani livestock breeding, development of hybrid varieties, and precision irrigation. Pakistan effectively would become a raw materials supplier rather than an added-value producer, a prerequisite for a sustainable textiles industry. The plan saw the Pakistani textile sector as a supplier of materials such as yarn and coarse cloth to textile manufacturers in Xinjiang. “China can make the most of the Pakistani market in cheap raw materials to develop the textiles & garments industry and help soak up surplus labour forces in (Xinjiang’s) Kashgar,” the plan said. Chinese companies would be offered preferential treatment with regard to “land, tax, logistics and services” as well as “enterprise income tax, tariff reduction and exemption and sales tax rate” incentives. For Khan to ensure that Pakistani agriculture benefits, the very concept of Chinese investment in Pakistani agriculture would have to renegotiated. Similarly, Khan has yet to express an opinion on the plan’s incorporation of a full system of monitoring and surveillance that would be built in Pakistani cities to ensure law and order. The system would involve deployment of explosive detectors and scanners to “cover major roads, case-prone areas and crowded places…in urban areas to conduct real-time monitoring and 24-hour video recording.” The surveillance aspect of the plan that identifies Pakistani politics, such as competing parties, religion, tribes, terrorists, and Western intervention” as well as security as the greatest risk to CPEC could, if unaddressed, transform Pakistani society in ways that go far beyond economic and infrastructure development. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Remodelling the Belt and Road: Pakistan picks up the torch

China on Tuesday played down reports of Pakistan's plans to cut down a railway project under the multi-billion dollar CPEC by $ 2 billion, saying Prime Minister Imran Khan has assured his support to the various projects under the flagship Belt and Road Initiative.

Pakistan's Railways Minister Sheikh Rashid recently announced plans to cut the $ 8.2 billion Karachi-Peshawar railway project by about $ 2 billion.

It is the biggest project under the $ 50 billion China Pakistan Economic Corridor (CPEC) which India opposes as it is being laid through Pakistan-occupied Kashmir.

On Sunday, Khan said Pakistan is reviewing the projects under the CPEC to safeguard the interest of the people in Balochistan province.

Khan in the past criticised former prime minister Nawaz Sharif for the lack of transparency and corruption in the CPEC projects.

He said that Balochistan had a number of reservations about the mega project.

Asked about Pakistan's plans to cut down the railway projects over fears of accumulating debt, Chinese Foreign Ministry spokesman Lu Kang told media on Tuesday that the new Pakistan government has expressed its support for the CPEC projects.

"You have only noted some aspects of the report. Recently on the advancement of the CPEC, we have noted that there are different comments and reports coming from the media.

"You can see that the new Pakistani government and Prime Minister (Khan) has made it clear that they will support the advancement of the CPEC," Lu said.

He was apparently referring to the assurances by the new government in Islamabad about the continuation of the CPEC projects during the recent visit of Chinese Foreign Minister Wang Yi to Pakistan.

Lu said the CPEC served the economic and social development and referred to the International Monetary Fund (IMF) report which he said "made it clear that the advancement of the CPEC did not cause any burden to Pakistan".

"The IMF also said the CPEC from a long-term perspective will enhance Pakistan's capacity for the development," he said, adding that all the projects were conceived after extensive consultations with Pakistan.

About the comments by some Pakistan officials to cut down the cost of the projects, he said: "We should view such comments in a comprehensive way. Actually, the advancement of the CPEC is conducive to the inter- 
connectivity and prosperity of the region including Pakistan".

"We hope you can see that the CPEC is very important project of the Belt and Road Initiative (BRI)," Li added.

China had announced after the visit of Wang to Pakistan in September that the CPEC projects will be extended to the western areas of Pakistan, which included Balochistan.

The CPEC is the flagship project of the multi-billion dollar BRI, a pet project of President Xi Jinping aimed at enhancing China's influence around the world through China-funded infrastructure projects

China on Tuesday played down reports of Pakistan's plans to cut down a railway project under the multi-billion dollar CPEC by $ 2 billion, saying Prime Minister Imran Khan has assured his support to the various projects under the flagship Belt and Road Initiative.

China on Tuesday played down reports of Pakistan's plans to cut down a railway project under the multi-billion dollar CPEC by $ 2 billion, saying Prime Minister Imran Khan has assured his support to the various projects under the flagship Belt and Road Initiative. Pakistan's Railways Minister Sheikh Rashid recently announced plans to cut the $ 8.2 billion Karachi-Peshawar railway project by about $ 2 billion. It is the biggest project under the $ 50 billion China Pakistan Economic Corridor (CPEC) which India opposes as it is being laid through Pakistan-occupied Kashmir. On Sunday, Khan said Pakistan is reviewing the projects under the CPEC to safeguard the interest of the people in Balochistan province. Khan in the past criticised former prime minister Nawaz Sharif for the lack of transparency and corruption in the CPEC projects. He said that Balochistan had a number of reservations about the mega project. Asked about Pakistan's plans to cut down the railway projects over fears of accumulating debt, Chinese Foreign Ministry spokesman Lu Kang told media on Tuesday that the new Pakistan government has expressed its support for the CPEC projects. "You have only noted some aspects of the report. Recently on the advancement of the CPEC, we have noted that there are different comments and reports coming from the media. "You can see that the new Pakistani government and Prime Minister (Khan) has made it clear that they will support the advancement of the CPEC," Lu said. He was apparently referring to the assurances by the new government in Islamabad about the continuation of the CPEC projects during the recent visit of Chinese Foreign Minister Wang Yi to Pakistan. Lu said the CPEC served the economic and social development and referred to the International Monetary Fund (IMF) report which he said "made it clear that the advancement of the CPEC did not cause any burden to Pakistan". "The IMF also said the CPEC from a long-term perspective will enhance Pakistan's capacity for the development," he said, adding that all the projects were conceived after extensive consultations with Pakistan. About the comments by some Pakistan officials to cut down the cost of the projects, he said: "We should view such comments in a comprehensive way. Actually, the advancement of the CPEC is conducive to the inter- connectivity and prosperity of the region including Pakistan". "We hope you can see that the CPEC is very important project of the Belt and Road Initiative (BRI)," Li added. China had announced after the visit of Wang to Pakistan in September that the CPEC projects will be extended to the western areas of Pakistan, which included Balochistan. The CPEC is the flagship project of the multi-billion dollar BRI, a pet project of President Xi Jinping aimed at enhancing China's influence around the world through China-funded infrastructure projects

Different voices coming from Pak on CPEC: China

China on Monday reacted guardedly to Saudi Arabia's plan to invest in Pakistan, saying it is a "positive factor" if any other party would like to contribute to promote the inter-connectivity and prosperity of the region on the basis of consultation.

After the recent visit of Pakistan Prime Minister Imran Khan to Saudi Arabia, it was announced that Riyadh will be the third "strategic partner" of $ 50 billion China Pakistan Economic Corridor (CPEC).

The CPEC is the flagship project of the multi-billion dollar Belt and Road Initiative (BRI), a pet project of President Xi Jinping aimed at enhancing China's influence around the world through China-funded infrastructure projects.

However, Islamabad later clarified that the Saudi Arabian investments will not be under the CPEC, which will remain a bilateral project between China and Pakistan.

Asked about China's reaction to Saudi Arabia's investments in Pakistan, Chinese Foreign Ministry spokesman Lu Kang told a media briefing that "the CPEC is an important project under the Belt and Road Initiative (BRI)".

He said BRI projects followed wide consultations and shared benefits.

"So such cooperation has always been open and transparent. If any other party would like to contribute positive factors to promote the inter-connectivity and prosperity of the region on the basis of consultation, I think this is a positive factor," Lu said.

India has opposed the CPEC project and protested to China as it is being laid through Pakistan-occupied Kashmir.

The invitation to Saudi Arabia to take part in the CPEC sparked concerns that it might upset Iran, a strategic rival of Riyadh.

An article in Hong Kong-based South China Morning Post said Pakistan is risking China's anger by courting Saudi Arabia.

"Pakistan's decision to invite Saudi Arabia to develop a massive refinery complex at Gwadar (port) certainly suggests that the CPEC is being manipulated to serve ends other than China's," the article said.

Balochistan province, where Gwadar is located, borders Iran.

"Riyadh must be salivating at the prospect of setting up a strategic oil reserve 120 km from Pakistan's border with Iran. Tehran, on the other hand, would be foaming at the mouth at this brazen attempt to undermine its flailing economy," the article said.

On Sunday, Khan said Pakistan is reviewing the projects under the CPEC to safeguard the interest of the people in Balochistan province.

Khan in the past had criticised former prime minister Nawaz Sharif for the lack of transparency and corruption in the CPEC projects.

He said that Balochistan had a number of reservations about the mega project.

"Balochistan will get its due share, whatever it may be, in the CPEC," he was quoted as saying by Dawn news.

China had announced after the visit of Foreign Minister Wang Yi to Pakistan in September that the CPEC projects will be extended to western areas of Pakistan, which included Balochistan.&nbsp;

China on Monday reacted guardedly to Saudi Arabia's plan to invest in Pakistan, saying it is a "positive factor" if any other party would like to contribute to promote the inter-connectivity and prosperity of the region on the basis of consultation.

China on Monday reacted guardedly to Saudi Arabia's plan to invest in Pakistan, saying it is a "positive factor" if any other party would like to contribute to promote the inter-connectivity and prosperity of the region on the basis of consultation. After the recent visit of Pakistan Prime Minister Imran Khan to Saudi Arabia, it was announced that Riyadh will be the third "strategic partner" of $ 50 billion China Pakistan Economic Corridor (CPEC). The CPEC is the flagship project of the multi-billion dollar Belt and Road Initiative (BRI), a pet project of President Xi Jinping aimed at enhancing China's influence around the world through China-funded infrastructure projects. However, Islamabad later clarified that the Saudi Arabian investments will not be under the CPEC, which will remain a bilateral project between China and Pakistan. Asked about China's reaction to Saudi Arabia's investments in Pakistan, Chinese Foreign Ministry spokesman Lu Kang told a media briefing that "the CPEC is an important project under the Belt and Road Initiative (BRI)". He said BRI projects followed wide consultations and shared benefits. "So such cooperation has always been open and transparent. If any other party would like to contribute positive factors to promote the inter-connectivity and prosperity of the region on the basis of consultation, I think this is a positive factor," Lu said. India has opposed the CPEC project and protested to China as it is being laid through Pakistan-occupied Kashmir. The invitation to Saudi Arabia to take part in the CPEC sparked concerns that it might upset Iran, a strategic rival of Riyadh. An article in Hong Kong-based South China Morning Post said Pakistan is risking China's anger by courting Saudi Arabia. "Pakistan's decision to invite Saudi Arabia to develop a massive refinery complex at Gwadar (port) certainly suggests that the CPEC is being manipulated to serve ends other than China's," the article said. Balochistan province, where Gwadar is located, borders Iran. "Riyadh must be salivating at the prospect of setting up a strategic oil reserve 120 km from Pakistan's border with Iran. Tehran, on the other hand, would be foaming at the mouth at this brazen attempt to undermine its flailing economy," the article said. On Sunday, Khan said Pakistan is reviewing the projects under the CPEC to safeguard the interest of the people in Balochistan province. Khan in the past had criticised former prime minister Nawaz Sharif for the lack of transparency and corruption in the CPEC projects. He said that Balochistan had a number of reservations about the mega project. "Balochistan will get its due share, whatever it may be, in the CPEC," he was quoted as saying by Dawn news. China had announced after the visit of Foreign Minister Wang Yi to Pakistan in September that the CPEC projects will be extended to western areas of Pakistan, which included Balochistan.

Saudi Arabia's plan to invest in Pak a 'positive factor': China

Pakistan Prime Minister Imran Khan on Saturday said that his government is focusing on abolishing Balochistan's apprehensions regarding the China-Pakistan Economic Corridor (CPEC), promising to give the province its due share from the deal.

The Pakistan Tehreek-e-Insaf (PTI)-led government is conducting the review of the muti-billion dollar deal to address Balochistan's doubts, Khan confirmed during a meeting with the province's cabinet members here.

"Centre will work with Balochistan as a partner. We will not make any such promise for which we may have to excuse later on," said the Prime Minister.

He further bemoaned the damage caused to Pakistan by previous governments through the over-burdening loans they took, saying, "We hope that we will soon get rid of this difficulty."

While stating that the country's progress was connected with the development of the south-western province, Khan said that an agricultural revolution will be witnessed in Balochistan following the completion of the Kachhi canal.

The eighty-kilometres of the 363 kilometre-long canal lies in Balochistan, with the other 281 kilometres being in the Punjab province.

The PTI chief also called upon Balochistan Chief Minister Jam Kamal Khan to inculcate the newly instituted local bodies system, which also slated to be introduced in Punjab and Khyber Pakhtunkhwa (KP).

Khan said that his party was able to garner two-thirds majority in the KP Assembly as resources were sanctioned for the lowest levels of the government."There have been massive developments in KP villages as the basic living standards of people improved," said the Prime Minister.

Pakistan Prime Minister Imran Khan on Saturday said that his government is focusing on abolishing Balochistan's apprehensions regarding the China-Pakistan Economic Corridor (CPEC), promising to give the province its due share from the deal.

Pakistan Prime Minister Imran Khan on Saturday said that his government is focusing on abolishing Balochistan's apprehensions regarding the China-Pakistan Economic Corridor (CPEC), promising to give the province its due share from the deal. The Pakistan Tehreek-e-Insaf (PTI)-led government is conducting the review of the muti-billion dollar deal to address Balochistan's doubts, Khan confirmed during a meeting with the province's cabinet members here. "Centre will work with Balochistan as a partner. We will not make any such promise for which we may have to excuse later on," said the Prime Minister. He further bemoaned the damage caused to Pakistan by previous governments through the over-burdening loans they took, saying, "We hope that we will soon get rid of this difficulty." While stating that the country's progress was connected with the development of the south-western province, Khan said that an agricultural revolution will be witnessed in Balochistan following the completion of the Kachhi canal. The eighty-kilometres of the 363 kilometre-long canal lies in Balochistan, with the other 281 kilometres being in the Punjab province. The PTI chief also called upon Balochistan Chief Minister Jam Kamal Khan to inculcate the newly instituted local bodies system, which also slated to be introduced in Punjab and Khyber Pakhtunkhwa (KP). Khan said that his party was able to garner two-thirds majority in the KP Assembly as resources were sanctioned for the lowest levels of the government."There have been massive developments in KP villages as the basic living standards of people improved," said the Prime Minister.

Imran Khan promises to give Balochistan its due share in CPEC

Pakistan Prime Minister Imran Khan is expected to make his first official visit to China next month, his foreign minister&nbsp;Shah Mahmood Qureshi said.

Khan's visit to China has come amid reports hinting that the new government has a growing uneasiness with the ambitious China project.

A recent report had stated that the <a href="http://www.wionews.com/south-asia/pakistan-government-likely-to-review-cpec-deals-165016">Pak government was trying the review the agreements</a> made under the China-Pakistan Economic Corridor (CPEC) project. It further added that Khan had also formed a nine-member committee to analyse the project.

Meanwhile,&nbsp;Pakistan's Foreign Minister Shah Mahmood Qureshi said in an interview in Washington that the US $50 billion China Pakistan Economic Corridor (CPEC) is a game changer for Pakistan and has taken off.

Pakistan, he said, wants an early completing of these projects and is in talks with the Chinese on how to focus on areas that are important to the new government.

"Hopefully next month in November the prime minister would be making his first official visit to China to discuss this further," Qureshi told a Washington audience when he was asked about reports of changes in the ambitious CPEC projects.

"Obviously infrastructure is required. We need roads and rail links, optic fibers and everything of that sort. We want them to help us in areas like industrial development, enhancing agriculture productivity, helping us alleviate poverty in the country," he said to a question at the US Institute of Peace.

Qureshi said the Khan government is talking about how to improve lives and livelihoods, how labour-intensive industry can be relocated into Pakistan and give jobs.

"So that is an ongoing discussion and hopefully next month in November, the prime minister would be taking his first official visit to China to discuss this further," the top Pakistani diplomat said.

When asked about increasing relationship between Pakistan and China, Qureshi said this is not at the cost of the ties with the US.&nbsp;

"US was, is and will remain an important global player. You are a technological, economic and military power. We recognise that. There's a history of our relationship. Let's not forget that," he said.

Noting that currently there are challenges in the US- Chinese relationship, Qureshi argued that Beijing can play an important constructive role with regard to Afghanistan and peace in the region.

"I am of the view and Pakistan is of the view that China can play a constructive role and China must be engaged. China has initiated a trilateral meeting.

&nbsp;They had one in Beijing and next month in December we might have the second round in Kabul," he said.

Pakistan is currently reeling from a huge financial crisis. The new government is planning to approach the International Monetary Fund (IMF) for its 13th bailout in the last three decades, as the Pakistani rupee continues to weaken further in a volatile global financial market.

(With inputs from agencies)

Pakistan Prime Minister Imran Khan is expected to make his first official visit to China next month, his foreign minister Shah Mahmood Qureshi said. Khan's visit to China has come amid reports hinting that the new government has a growing uneasiness with the ambitious China project.

Pakistan Prime Minister Imran Khan is expected to make his first official visit to China next month, his foreign minister Shah Mahmood Qureshi said. Khan's visit to China has come amid reports hinting that the new government has a growing uneasiness with the ambitious China project. A recent report had stated that the Pak government was trying the review the agreements made under the China-Pakistan Economic Corridor (CPEC) project. It further added that Khan had also formed a nine-member committee to analyse the project. Meanwhile, Pakistan's Foreign Minister Shah Mahmood Qureshi said in an interview in Washington that the US $50 billion China Pakistan Economic Corridor (CPEC) is a game changer for Pakistan and has taken off. Pakistan, he said, wants an early completing of these projects and is in talks with the Chinese on how to focus on areas that are important to the new government. "Hopefully next month in November the prime minister would be making his first official visit to China to discuss this further," Qureshi told a Washington audience when he was asked about reports of changes in the ambitious CPEC projects. "Obviously infrastructure is required. We need roads and rail links, optic fibers and everything of that sort. We want them to help us in areas like industrial development, enhancing agriculture productivity, helping us alleviate poverty in the country," he said to a question at the US Institute of Peace. Qureshi said the Khan government is talking about how to improve lives and livelihoods, how labour-intensive industry can be relocated into Pakistan and give jobs. "So that is an ongoing discussion and hopefully next month in November, the prime minister would be taking his first official visit to China to discuss this further," the top Pakistani diplomat said. When asked about increasing relationship between Pakistan and China, Qureshi said this is not at the cost of the ties with the US. "US was, is and will remain an important global player. You are a technological, economic and military power. We recognise that. There's a history of our relationship. Let's not forget that," he said. Noting that currently there are challenges in the US- Chinese relationship, Qureshi argued that Beijing can play an important constructive role with regard to Afghanistan and peace in the region. "I am of the view and Pakistan is of the view that China can play a constructive role and China must be engaged. China has initiated a trilateral meeting. They had one in Beijing and next month in December we might have the second round in Kabul," he said. Pakistan is currently reeling from a huge financial crisis. The new government is planning to approach the International Monetary Fund (IMF) for its 13th bailout in the last three decades, as the Pakistani rupee continues to weaken further in a volatile global financial market. (With inputs from agencies)

Pakistan PM Imran Khan to visit China in November

In a U-turn, Pakistan has announced that its close ally Saudi Arabia would not join the $ 50 billion China-Pakistan Economic Corridor, days after Islamabad said Riyadh will be the third "strategic partner" of China's flagship project, the Belt and Road Initiative.

The CPEC is the flagship project of the multi-billion dollar Belt and Road Initiative (BRI), a pet project of President Xi Jinping aimed at enhancing China's influence around the world through China-funded infrastructure projects.

Minister for Planning and Development Khusro Bakhtiar told media on Tuesday that the cash-rich kingdom's proposed investments would fall under a separate bilateral arrangement, Dawn news reported.

"Saudi Arabia is not to become a collateral strategic partner in the CPEC. This impression is not true," he said.

A third country can participate in the China-Pakistan Economic Corridor (CPEC) by taking part in the business and investment ventures arising out of the project, Bakhtiar said.

"The framework between China and Pakistan is bilateral and Saudi Arabia is not entering that framework as a third-party investor, rather the base of the CPEC will be broadened and its pace will be expedited," he said.

Last month, Information Minister Fawad Chaudhry said that Saudi Arabia is the third "strategic partner" of the CPEC, soon after Prime Minister Imran Khan returned from his first foreign trip to the kingdom.

Interestingly Chaudhry was sitting with Bakhtiar when he issued clarification that Saudi Arabia participation in the CPEC was not as third partner in the project.

Bakhtiar further said that there was no decision to bring a third country, like Saudi Arabia, under the framework of the CPEC.

He was responding to questions about the possibility of Saudi Arabia becoming part of the Joint Working Groups or Joint Coordination Committee on the CPEC.

Bakhtiar said there could be many offshoots of the CPEC where third countries could be involved in trilateral arrangement for infrastructure development, like China-

Pakistan-Japan, China-Pakistan-Saudi Arabia or China-Pakistan-Germany.

The minister dodged questions when asked how the cost of Main Railway Line (ML-I) had been reduced by $ 2 billion from $ 8.2 billion to $ 6.2 billion as claimed by Railways Minister Shaikh Rasheed Ahmed.

"I have noticed this today that Sheikh Rasheed is making some efforts (to reduce the cost) but not to my knowledge. Nothing has come in front of me to suggest that the cost has come down," he said.

Bakhtiar said the CPEC portfolio currently stands at about $ 50 billion, of which about $ 6 billion was a government-to-government loan and remaining in Independent Power Producers mode mostly in the energy sector. About $ 29 billion worth of projects were currently in progress.

He said the CPEC had far bigger potential than $ 50 billion and would keep expanding with time as new projects come up but the previous government treated and played it like a T-20 match instead of a five-day test series and focused mostly on projects which could be completed during its tenure.

Currently, a Saudi delegation is in Pakistan for initial assessment to capitalise on the Pakistani offer.

India has opposed the CPEC project and protested to China as it is being laid through Pakistan-occupied Kashmir.&nbsp;

In a U-turn, Pakistan has announced that its close ally Saudi Arabia would not join the $ 50 billion China-Pakistan Economic Corridor, days after Islamabad said Riyadh will be the third "strategic partner" of China's flagship project, the Belt and Road Initiative.

In a U-turn, Pakistan has announced that its close ally Saudi Arabia would not join the $ 50 billion China-Pakistan Economic Corridor, days after Islamabad said Riyadh will be the third "strategic partner" of China's flagship project, the Belt and Road Initiative. The CPEC is the flagship project of the multi-billion dollar Belt and Road Initiative (BRI), a pet project of President Xi Jinping aimed at enhancing China's influence around the world through China-funded infrastructure projects. Minister for Planning and Development Khusro Bakhtiar told media on Tuesday that the cash-rich kingdom's proposed investments would fall under a separate bilateral arrangement, Dawn news reported. "Saudi Arabia is not to become a collateral strategic partner in the CPEC. This impression is not true," he said. A third country can participate in the China-Pakistan Economic Corridor (CPEC) by taking part in the business and investment ventures arising out of the project, Bakhtiar said. "The framework between China and Pakistan is bilateral and Saudi Arabia is not entering that framework as a third-party investor, rather the base of the CPEC will be broadened and its pace will be expedited," he said. Last month, Information Minister Fawad Chaudhry said that Saudi Arabia is the third "strategic partner" of the CPEC, soon after Prime Minister Imran Khan returned from his first foreign trip to the kingdom. Interestingly Chaudhry was sitting with Bakhtiar when he issued clarification that Saudi Arabia participation in the CPEC was not as third partner in the project. Bakhtiar further said that there was no decision to bring a third country, like Saudi Arabia, under the framework of the CPEC. He was responding to questions about the possibility of Saudi Arabia becoming part of the Joint Working Groups or Joint Coordination Committee on the CPEC. Bakhtiar said there could be many offshoots of the CPEC where third countries could be involved in trilateral arrangement for infrastructure development, like China- Pakistan-Japan, China-Pakistan-Saudi Arabia or China-Pakistan-Germany. The minister dodged questions when asked how the cost of Main Railway Line (ML-I) had been reduced by $ 2 billion from $ 8.2 billion to $ 6.2 billion as claimed by Railways Minister Shaikh Rasheed Ahmed. "I have noticed this today that Sheikh Rasheed is making some efforts (to reduce the cost) but not to my knowledge. Nothing has come in front of me to suggest that the cost has come down," he said. Bakhtiar said the CPEC portfolio currently stands at about $ 50 billion, of which about $ 6 billion was a government-to-government loan and remaining in Independent Power Producers mode mostly in the energy sector. About $ 29 billion worth of projects were currently in progress. He said the CPEC had far bigger potential than $ 50 billion and would keep expanding with time as new projects come up but the previous government treated and played it like a T-20 match instead of a five-day test series and focused mostly on projects which could be completed during its tenure. Currently, a Saudi delegation is in Pakistan for initial assessment to capitalise on the Pakistani offer. India has opposed the CPEC project and protested to China as it is being laid through Pakistan-occupied Kashmir.

In U-turn, Pakistan says Saudi Arabia will not be part of CPEC

Pakistan today cut the size of China's "Silk Road" by $2 billion due to rising debt constraints, Railways Minister Sheikh Rasheed said.

<a href="http://www.wionews.com/south-asia/cpec-projects-risk-widening-social-divides-in-pakistan-report-149556">Also Read:&nbsp;CPEC projects risk widening social divides in Pakistan, says Report</a>

"Pakistan is a poor country that cannot afford huge burden of the loans," Rasheed said, adding,"therefore, we have reduced the loan from China under CPEC for rail projects from $8.2 billion to $6.2 billion."&nbsp;

The project was hit over cost leading the Pakistan government to rethink the 1,872 km road infrastructure deal.

China has been a big investor in Pakistan with investments of over $60 billion in China-Pakistan Economic Corridor (CPEC). However, recent reports have suggested the deal has led to large-scale debts for the Pakistan government, already reeling under huge current account deficit.

Rasheed said the government remains "committed" to the Karachi-Peshawar Main Line-1 (ML-1) project but asserted that he wishes to further reduce the cost to $4.2 billion from $6.2 billion.

"CPEC is like the backbone for Pakistan, but our eyes and ears are open," Rasheed said.

Pakistan's Army chief General Baig who had recently visited China had assured government officials in China on over the viability of the CPEC.

But US Senators last month had flagged concern over risk of debt distress due to rising current account deficit and external debt obligations stemming from the CPEC project. The Centre for Global Development has estimated that of the 68 countries currently hosting BRI-funded projects, 23 countries are at risk of debt distress.

Last year, the Sri Lankan government, after being unable to repay over $1 billion of Chinese debt for construction of the Hambantota Port, granted a Chinese state company, a 99-year lease on the facility.

"In China's String of Pearls strategy for the Indo-Pacific, Gwadar and Hambantota are important footholds that if converted into naval bases will enable the PLA Navy to maintain a permanent presence in the Indian Ocean," the US Senators had said.&nbsp; 
&nbsp;

Pakistan today cut the size of China's "Silk Road" by $2 billion due to rising debt constraints, Railways Minister Sheikh Rasheed said. Also Read: CPEC projects risk widening social divides in Pakistan, says Report "Pakistan is a poor country that cannot afford huge burden of the loans," Rasheed said, adding,"therefore, we have reduced the loan from China under CPEC for rail projects from $8.

Pakistan today cut the size of China's "Silk Road" by $2 billion due to rising debt constraints, Railways Minister Sheikh Rasheed said. Also Read: CPEC projects risk widening social divides in Pakistan, says Report "Pakistan is a poor country that cannot afford huge burden of the loans," Rasheed said, adding,"therefore, we have reduced the loan from China under CPEC for rail projects from $8.2 billion to $6.2 billion." The project was hit over cost leading the Pakistan government to rethink the 1,872 km road infrastructure deal. China has been a big investor in Pakistan with investments of over $60 billion in China-Pakistan Economic Corridor (CPEC). However, recent reports have suggested the deal has led to large-scale debts for the Pakistan government, already reeling under huge current account deficit. Rasheed said the government remains "committed" to the Karachi-Peshawar Main Line-1 (ML-1) project but asserted that he wishes to further reduce the cost to $4.2 billion from $6.2 billion. "CPEC is like the backbone for Pakistan, but our eyes and ears are open," Rasheed said. Pakistan's Army chief General Baig who had recently visited China had assured government officials in China on over the viability of the CPEC. But US Senators last month had flagged concern over risk of debt distress due to rising current account deficit and external debt obligations stemming from the CPEC project. The Centre for Global Development has estimated that of the 68 countries currently hosting BRI-funded projects, 23 countries are at risk of debt distress. Last year, the Sri Lankan government, after being unable to repay over $1 billion of Chinese debt for construction of the Hambantota Port, granted a Chinese state company, a 99-year lease on the facility. "In China's String of Pearls strategy for the Indo-Pacific, Gwadar and Hambantota are important footholds that if converted into naval bases will enable the PLA Navy to maintain a permanent presence in the Indian Ocean," the US Senators had said.

$2 billion cut from China's 'silk road' in Karachi-Peshawar road project due to debts: Pakistan

Saudi Arabia is set to join the multibillion-dollar project China Pakistan Economic Corridor(CPEC) as a third major economic partner.

In a tweet on September 20, PTI minister Fawad Chaudhry announced that Pakistan had invited Saudi Arabia to join CPEC as the third strategic partner.&nbsp;The decision was taken in alliance with China.

Saudi Arabia's decision to invest in the project came days after Pakistan Prime Minister Imran Khan visited Saudi and United Arab Emirates in his first foreign visit since assuming office.

Saudi's addition to the project is aimed at recovering&nbsp;the Imran Khan-led Pakistan Tehreek-e-Insaf (PTI) government from the financial crunch faced by the country.

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Pakistan has invited Saudi Arabia to join CPEC as the 3rd strategic partner - Minister Information Fawad Chaudhry (20.09.18)<a href="https://twitter.com/hashtag/PTI?src=hash&amp;ref_src=twsrc%5Etfw">#PTI</a> <a href="https://twitter.com/fawadchaudhry?ref_src=twsrc%5Etfw">@fawadchaudhry</a> <a href="https://t.co/vETts8eyhK">pic.twitter.com/vETts8eyhK</a>
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Yes China has been taken into confidence, expansion of CPEC is in China and Pakistan interest. Pak ll be a centre of economic activity of this region, era of darkness is over. <a href="https://t.co/m8AvLIuAEJ">https://t.co/m8AvLIuAEJ</a>
— Ch Fawad Hussain (@fawadchaudhry) <a href="https://twitter.com/fawadchaudhry/status/1043025612393181184?ref_src=twsrc%5Etfw">September 21, 2018</a></blockquote>
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The China-Pakistan Economic Corridor (CPEC), China's flagship project under its Belt and Road Initiative (BRI) will connect China's largest province Xinjiang with Pakistan's Gwadar port.

The $50-billion project will facilitate China's reach to the Arabian Sea.&nbsp;

&nbsp;

&nbsp;

Saudi Arabia is set to join the multibillion-dollar project China Pakistan Economic Corridor(CPEC) as a third major economic partner. In a tweet on September 20, PTI minister Fawad Chaudhry announced that Pakistan had invited Saudi Arabia to join CPEC as the third strategic partner.

Saudi Arabia is set to join the multibillion-dollar project China Pakistan Economic Corridor(CPEC) as a third major economic partner. In a tweet on September 20, PTI minister Fawad Chaudhry announced that Pakistan had invited Saudi Arabia to join CPEC as the third strategic partner. The decision was taken in alliance with China. Saudi Arabia's decision to invest in the project came days after Pakistan Prime Minister Imran Khan visited Saudi and United Arab Emirates in his first foreign visit since assuming office. Saudi's addition to the project is aimed at recovering the Imran Khan-led Pakistan Tehreek-e-Insaf (PTI) government from the financial crunch faced by the country. Pakistan has invited Saudi Arabia to join CPEC as the 3rd strategic partner - Minister Information Fawad Chaudhry (20.09.18)#PTI @fawadchaudhry pic.twitter.com/vETts8eyhK — PTI (@PTIofficial) September 20, 2018 × Yes China has been taken into confidence, expansion of CPEC is in China and Pakistan interest. Pak ll be a centre of economic activity of this region, era of darkness is over. https://t.co/m8AvLIuAEJ — Ch Fawad Hussain (@fawadchaudhry) September 21, 2018 × The China-Pakistan Economic Corridor (CPEC), China's flagship project under its Belt and Road Initiative (BRI) will connect China's largest province Xinjiang with Pakistan's Gwadar port. The $50-billion project will facilitate China's reach to the Arabian Sea.

Saudi Arabia to join CPEC project as third economic partner: Pakistan government

China on Monday refrained from making any direct comment on Pakistan's latest move on exercising administrative authority on Gilgit-Baltistan, but said the CPEC, which traverses through the disputed region, will not affect its stand that the Kashmir issue should be resolved between India and Pakistan.

Pakistan's Cabinet on May 21 approved Gilgit-Baltistan Order 2018 which was also endorsed by the region's assembly. The order is being seen as Pakistan's efforts towards incorporating the disputed region as its fifth province.

The move sparked anger in the region and drew strong reaction from New Delhi which said the entire state of Jammu and Kashmir, which also includes the so-called 'Gilgit-Baltistan' areas, is an integral part of India by virtue of its accession in 1947.

Chinese Foreign Ministry spokesperson Hua Chunying told a media briefing that "Kashmir issue is a historical baggage between India and Pakistan and therefore shall be resolved between the two sides through dialogue and consultation".&nbsp;

Asked to comment on the Pakistan government's Gilgit-Baltistan Order, Hua reiterated Beijing's stand that the $50 billion China-Pakistan Economic Corridor (CPEC), which goes through Gilgit and Baltistan, will not affect its stand that the Kashmir issue should be resolved between India and Pakistan.

"We have stressed many times that the CPEC is an initiative for economic cooperation. This is a cooperation framework which serves the purpose of economic development and the people's livelihood. This initiative does not affect our position on the Kashmir issue," she said.&nbsp;

Pakistan has bifurcated occupied Kashmir into two administrative parts - Gilgit-Baltistan and Pakistan-occupied Kashmir. Gilgit-Baltistan was treated as a separate geographical entity by Pakistan till now.

It is believed that China's concerns about the unsettled status of Gilgit-Baltistan prompted Pakistan to change the region's status.&nbsp;

China refrained from any direct comment on Pakistan's move on exercising administrative authority on Gilgit-Baltistan.

China on Monday refrained from making any direct comment on Pakistan's latest move on exercising administrative authority on Gilgit-Baltistan, but said the CPEC, which traverses through the disputed region, will not affect its stand that the Kashmir issue should be resolved between India and Pakistan. Pakistan's Cabinet on May 21 approved Gilgit-Baltistan Order 2018 which was also endorsed by the region's assembly. The order is being seen as Pakistan's efforts towards incorporating the disputed region as its fifth province. The move sparked anger in the region and drew strong reaction from New Delhi which said the entire state of Jammu and Kashmir, which also includes the so-called 'Gilgit-Baltistan' areas, is an integral part of India by virtue of its accession in 1947. Chinese Foreign Ministry spokesperson Hua Chunying told a media briefing that "Kashmir issue is a historical baggage between India and Pakistan and therefore shall be resolved between the two sides through dialogue and consultation". Asked to comment on the Pakistan government's Gilgit-Baltistan Order, Hua reiterated Beijing's stand that the $50 billion China-Pakistan Economic Corridor (CPEC), which goes through Gilgit and Baltistan, will not affect its stand that the Kashmir issue should be resolved between India and Pakistan. "We have stressed many times that the CPEC is an initiative for economic cooperation. This is a cooperation framework which serves the purpose of economic development and the people's livelihood. This initiative does not affect our position on the Kashmir issue," she said. Pakistan has bifurcated occupied Kashmir into two administrative parts - Gilgit-Baltistan and Pakistan-occupied Kashmir. Gilgit-Baltistan was treated as a separate geographical entity by Pakistan till now. It is believed that China's concerns about the unsettled status of Gilgit-Baltistan prompted Pakistan to change the region's status.

China mum on Pakistan's Gilgit-Baltistan order, says CPEC will not affect its stand on Kashmir

Pakistan's liquid foreign exchange net reduced $ 5.8 billion to reach $10.3 billion, the country's state bank said.

The reserves are barely enough for two months of imports and are below the International Monetary Fund's(IMF) adequacy levels.&nbsp

The monetary committee of Pakistan's state bank while unveiling the report said the need for "deep-rooted structural reforms" to improve the country's competitiveness can hardly be overemphasized for medium to long-term sustainability of balance of payments.&nbsp

Meanwhile, China has agreed to roll over a loan of $ 500 million that it has placed with the State Bank of Pakistan as Islamabad's official foreign currency reserves remain in a precarious position despite taking $ 44 billion in loans in the past five years.

The Monetary committee said the currency swap arrangement between State Bank of Pakistan (SBP) and People's Bank of China (PBOC) has been extended for a period of 3 years in respective local currencies.&nbsp

Both the central banks have agreed to increase the amount from 10 billion yuan to 20 billion yuan and from 165 billion rupee to 351 billion rupee.&nbsp

Pakistan cannot use the $ 500 million Chinese deposit and its only purpose is to shore up foreign currency reserves. The loan has been rescheduled at the same old terms since the money could not be utilised, the interest rate was only 1 per cent.

During the week ended May 18, the SBP's gross reserves dropped $479 million to only $10.32 billion due to payments on account of external debt servicing.&nbsp

Pakistan has already taken $2.2 billion in commercial loans from China in the current fiscal year. It is also holding negotiations to take $200-350 million in commercial loans from Gulf banks.

The reserves are barely enough for two months of imports

Pakistan's liquid foreign exchange net reduced $ 5.8 billion to reach $10.3 billion, the country's state bank said. The reserves are barely enough for two months of imports and are below the International Monetary Fund's(IMF) adequacy levels. The monetary committee of Pakistan's state bank while unveiling the report said the need for "deep-rooted structural reforms" to improve the country's competitiveness can hardly be overemphasized for medium to long-term sustainability of balance of payments. Meanwhile, China has agreed to roll over a loan of $ 500 million that it has placed with the State Bank of Pakistan as Islamabad's official foreign currency reserves remain in a precarious position despite taking $ 44 billion in loans in the past five years. The Monetary committee said the currency swap arrangement between State Bank of Pakistan (SBP) and People's Bank of China (PBOC) has been extended for a period of 3 years in respective local currencies. Both the central banks have agreed to increase the amount from 10 billion yuan to 20 billion yuan and from 165 billion rupee to 351 billion rupee. Pakistan cannot use the $ 500 million Chinese deposit and its only purpose is to shore up foreign currency reserves. The loan has been rescheduled at the same old terms since the money could not be utilised, the interest rate was only 1 per cent. During the week ended May 18, the SBP's gross reserves dropped $479 million to only $10.32 billion due to payments on account of external debt servicing. Pakistan has already taken $2.2 billion in commercial loans from China in the current fiscal year. It is also holding negotiations to take $200-350 million in commercial loans from Gulf banks.

Pakistan's foreign exchange slides, China steps in

<a href="http://www.wionews.com/india-news/kerala-death-toll-from-nipah-virus-rises-to-14-140144">Kerala: Death toll from Nipah virus rises to 14</a>

The death toll from the deadly Nipah virus on Sunday rose to 14 in Kerala after one more death was reported in&nbspKozhikode. Most of the deaths reported are from Kozhikode and Malappuram districts.

<a href="http://www.wionews.com/india-news/why-kairana-bypoll-is-a-key-player-in-the-run-up-to-2019-ls-polls-140093">Why Kairana by-poll is a key player in the run-up to 2019 Lok Sabha polls</a>

Kairana constituency in the politically crucial state of Uttar Pradesh has virtually assumed the dimension of a strategic player in the run-up to the 2019 Lok Sabha elections.

<a href="http://www.wionews.com/india-news/maharashtra-bypoll-keen-contest-on-cards-in-2-lok-sabha-seats-tomorrow-140117">Maharashtra by-poll: </a><a href="http://www.wionews.com/india-news/maharashtra-bypoll-keen-contest-on-cards-in-2-lok-sabha-seats-tomorrow-140117">Keen</a><a href="http://www.wionews.com/india-news/maharashtra-bypoll-keen-contest-on-cards-in-2-lok-sabha-seats-tomorrow-140117"> contest on cards in 2 Lok Sabha seats tomorrow</a>

The by-elections to Palghar and Bhandara-Gondia Lok Sabha seats in Maharashtra will be held on May 28 for which all four major parties have pulled out all stops as the outcome is likely to have a bearing on their future course.&nbsp

<a href="http://www.wionews.com/south-asia/pakistan-pm-shahid-abbasi-inaugurates-1st-section-of-cpecs-superhighway-140120">Pakistan PM Shahid Abbasi inaugurates 1st section of CPEC's superhighway</a>

Pakistan Prime Minister Shadid Abbasi on Saturday inaugurated the first section of the 392-km Multan-Sukkur Motorway, which is the largest transportation infrastructure project under the China-Pakistan Economic Corridor (CPEC).&nbsp

<a href="http://www.wionews.com/world/north-korea-refutes-reports-saying-its-seeking-economic-help-from-us--140112">North Korea refutes reports saying it's seeking economic help from </a><a href="http://www.wionews.com/world/north-korea-refutes-reports-saying-its-seeking-economic-help-from-us--140112">US</a>

North Korea on Sunday disputed reports which said that North Korea is seeking economic assistance from the United States in exchange for complete denuclearisation.&nbsp

Kerala: Death toll from Nipah virus rises to 14 The death toll from the deadly Nipah virus on Sunday rose to 14 in Kerala after one more death was reported in&nbspKozhikode. Most of the deaths reported are from Kozhikode and Malappuram districts. Why Kairana by-poll is a key player in the run-up to 2019 Lok Sabha polls Kairana constituency in the politically crucial state of Uttar Pradesh has virtually assumed the dimension of a strategic player in the run-up to the 2019 Lok Sabha elections. Maharashtra by-poll: Keen contest on cards in 2 Lok Sabha seats tomorrow The by-elections to Palghar and Bhandara-Gondia Lok Sabha seats in Maharashtra will be held on May 28 for which all four major parties have pulled out all stops as the outcome is likely to have a bearing on their future course. Pakistan PM Shahid Abbasi inaugurates 1st section of CPEC's superhighway Pakistan Prime Minister Shadid Abbasi on Saturday inaugurated the first section of the 392-km Multan-Sukkur Motorway, which is the largest transportation infrastructure project under the China-Pakistan Economic Corridor (CPEC). North Korea refutes reports saying it's seeking economic help from US North Korea on Sunday disputed reports which said that North Korea is seeking economic assistance from the United States in exchange for complete denuclearisation.

News brief: Big stories of the day

Pakistan Prime Minister Shadid Abbasi on Saturday inaugurated the first section of the 392-km Multan-Sukkur Motorway, which is the largest transportation infrastructure project under the China-Pakistan Economic Corridor (CPEC).&nbsp;

The superhighway is located in the country's eastern Punjab province, Multan. The six-lane superhighway will connect Karachi with Peshawar through the provinces of Punjab and Sindh.

The motorway, called M-5, will reduce the travel distance between Multan and Sukkur from 463 km to 392 km.&nbsp;

The project will be completed by August 2019 and will have 107 underpasses, 188 subways, 100 bridges.

Abbasi has branded the multi-billion dollar China-Pakistan Economic Corridor (CPEC) as a "game changer" for the country.

Calling the Belt and Road Initiative (BRI) and CPEC "a transformative project representing economic cooperation between Islamabad and Beijing," Abbasi said that the BRI is "a truly global public good", which has been planned to benefit the people living in geographically distinct areas, the People's Daily reported.&nbsp;

Calling the CPEC project a "game changer" for Pakistan, Abbasi stressed that the initial phase of the economic corridor was progressing well and so, a network of roads and the infrastructure at Gwadar Port in Balochistan were being developed on a priority basis.

The Pakistan Prime Minister further said that the next stage of developing the CPEC project was to set up Special Economic Zones (SEZs), which would lead to the strengthening of the country's economy and creating employment opportunities.

Pakistan Interior Minister Ahsan Iqbal also said that Pakistan would be the 'industrial hub' of the entire South Asian region soon, after the China-Pakistan Economic Corridor (CPEC) project is built.

The superhighway is located in the country's eastern Punjab province, Multan. The six-lane superhighway will connect Karachi with Peshawar through the provinces of Punjab and Sindh

Pakistan Prime Minister Shadid Abbasi on Saturday inaugurated the first section of the 392-km Multan-Sukkur Motorway, which is the largest transportation infrastructure project under the China-Pakistan Economic Corridor (CPEC). The superhighway is located in the country's eastern Punjab province, Multan. The six-lane superhighway will connect Karachi with Peshawar through the provinces of Punjab and Sindh. The motorway, called M-5, will reduce the travel distance between Multan and Sukkur from 463 km to 392 km. The project will be completed by August 2019 and will have 107 underpasses, 188 subways, 100 bridges. Abbasi has branded the multi-billion dollar China-Pakistan Economic Corridor (CPEC) as a "game changer" for the country. Calling the Belt and Road Initiative (BRI) and CPEC "a transformative project representing economic cooperation between Islamabad and Beijing," Abbasi said that the BRI is "a truly global public good", which has been planned to benefit the people living in geographically distinct areas, the People's Daily reported. Calling the CPEC project a "game changer" for Pakistan, Abbasi stressed that the initial phase of the economic corridor was progressing well and so, a network of roads and the infrastructure at Gwadar Port in Balochistan were being developed on a priority basis. The Pakistan Prime Minister further said that the next stage of developing the CPEC project was to set up Special Economic Zones (SEZs), which would lead to the strengthening of the country's economy and creating employment opportunities. Pakistan Interior Minister Ahsan Iqbal also said that Pakistan would be the 'industrial hub' of the entire South Asian region soon, after the China-Pakistan Economic Corridor (CPEC) project is built.

Pakistan PM Shahid Abbasi inaugurates 1st section of CPEC's superhighway

China is engaging in "cheque book diplomacy", <a href="http://www.wionews.com/south-asia/china-pakistan-having-security-economic-issues-in-cpec-project-132289">meaning Beijing is advancing loans</a> to countries that are unable to repay loans, researchers at Harvard University have said.

As a result of huge debt piling up, countries are ending up handing over land, ports and even airports to Chinese firms on long-term lease which finally end up serving China's ever-expanding strategic and military ambitions, Harvard researchers have said in a report.

The study has identified at least <a href="http://www.wionews.com/south-asia/36-glacial-lakes-in-gilgit-baltistan-declared-dangerous-due-to-china-pakistan-economic-corridor-34599">16 countries all over the world that owe China</a> large sums of money including Cambodia, Papua New Guinea, Malaysia and several others.

Significantly, India's neighbours Pakistan and Sri Lanka top the list. Beijing is committed to investing $62 billion in infrastructure project in Pakistan under the&nbsp;China–Pakistan Economic Corridor(CPEC) project. &nbsp;It has handed over the Gwadar port to China and also ceded land for a naval base nearby

The question on the minds of most Pakistan experts is how will Islamabad pay back China all the money, along with interest. Pakistan already owes China $19 billion for loans taken on various accounts including day-to-day spending. It has already handed over the Gwadar port to China.

Sri Lanka owes China $8 billion for loans forwarded by Beijing for various infrastructure projects. Like Pakistan, it has already handed over the Hambantota port on a 99-year long lease and Chinese ships have already started docking there during voyages from bases in the South China Sea.

In the far east, China invested $7 billion in Cambodia last December alone and with loans taken over the last two decades Cambodia is indebted to China to the tune of 60 per cent.

The dependence has seen Cambodia scrap the Angkor sentinel military exercise with the US and ties with Taiwan, Harvard researchers revealed.

Also, China has ensured Loas debt burden to rack up to 65 per cent which has resulted in vast tracts of agricultural land being taken over by Chinese migrants, the study said.&nbsp;China is also funding a new $6.7 billion railway line and it is&nbsp;not clear what China will demand if the Loas government is unable to repay the debt.

Elsewhere in Papua New Guinea near Australia, the government may have to surrender control over some of its reserves of oil, gold, copper and coffee, the study found. China is already a majority-owner in nickel mine and is funding construction of roads, ports and high-speed Intenet in the country.&nbsp;

This has meant Papua New Guinea's debt to China has risen from less than $ 3 million in five years to over $20 million today.

Malaysia which was earlier a staunch critic of China has toned down its rhetoric of China's muscle-flexing in the South China Sea after Beijing invested more than $2 billion in the country's state development fund. On the other hand, Philippines saw its banana exports being hit after it criticised China over its intervention in the South China Sea.

As part of the renewed push towards 'debt book diplomacy', Vanuatu located in the south pacific ocean, owes China half of its debts with reports suggesting Beijing may get a naval base there, the study said.

Several experts fear China is dumping unviable projects deliberately to push long-term strategic objectives, if India is concerned about Chinese investments in Sri Lanka and recently in Nepal, Australia is concerned about China's activities in its neighbourhood.

For the US, its strategic hold over the Marshalls islands and Palau in the Pacific could end as China muscles its way through &nbsp;"cheque book diplomacy".

China is also funding a new $6.7 billion railway line and it's not clear what China will demand if the Laos government is unable to repay the debt.

China is engaging in "cheque book diplomacy", meaning Beijing is advancing loans to countries that are unable to repay loans, researchers at Harvard University have said. As a result of huge debt piling up, countries are ending up handing over land, ports and even airports to Chinese firms on long-term lease which finally end up serving China's ever-expanding strategic and military ambitions, Harvard researchers have said in a report. The study has identified at least 16 countries all over the world that owe China large sums of money including Cambodia, Papua New Guinea, Malaysia and several others. Significantly, India's neighbours Pakistan and Sri Lanka top the list. Beijing is committed to investing $62 billion in infrastructure project in Pakistan under the China–Pakistan Economic Corridor(CPEC) project. It has handed over the Gwadar port to China and also ceded land for a naval base nearby The question on the minds of most Pakistan experts is how will Islamabad pay back China all the money, along with interest. Pakistan already owes China $19 billion for loans taken on various accounts including day-to-day spending. It has already handed over the Gwadar port to China. Sri Lanka owes China $8 billion for loans forwarded by Beijing for various infrastructure projects. Like Pakistan, it has already handed over the Hambantota port on a 99-year long lease and Chinese ships have already started docking there during voyages from bases in the South China Sea. In the far east, China invested $7 billion in Cambodia last December alone and with loans taken over the last two decades Cambodia is indebted to China to the tune of 60 per cent. The dependence has seen Cambodia scrap the Angkor sentinel military exercise with the US and ties with Taiwan, Harvard researchers revealed. Also, China has ensured Loas debt burden to rack up to 65 per cent which has resulted in vast tracts of agricultural land being taken over by Chinese migrants, the study said. China is also funding a new $6.7 billion railway line and it is not clear what China will demand if the Loas government is unable to repay the debt. Elsewhere in Papua New Guinea near Australia, the government may have to surrender control over some of its reserves of oil, gold, copper and coffee, the study found. China is already a majority-owner in nickel mine and is funding construction of roads, ports and high-speed Intenet in the country. This has meant Papua New Guinea's debt to China has risen from less than $ 3 million in five years to over $20 million today. Malaysia which was earlier a staunch critic of China has toned down its rhetoric of China's muscle-flexing in the South China Sea after Beijing invested more than $2 billion in the country's state development fund. On the other hand, Philippines saw its banana exports being hit after it criticised China over its intervention in the South China Sea. As part of the renewed push towards 'debt book diplomacy', Vanuatu located in the south pacific ocean, owes China half of its debts with reports suggesting Beijing may get a naval base there, the study said. Several experts fear China is dumping unviable projects deliberately to push long-term strategic objectives, if India is concerned about Chinese investments in Sri Lanka and recently in Nepal, Australia is concerned about China's activities in its neighbourhood. For the US, its strategic hold over the Marshalls islands and Palau in the Pacific could end as China muscles its way through "cheque book diplomacy".

China's 'cheque book diplomacy' leading Pak, Sri Lanka & others to give away land, ports: Harvard study

By Siddhant Sibbal

Pakistan's ruling PML(N) has presented its last budget with CPEC, terror and Afghanistan making their way into the papers. But where Pakistan is involved, so is geopolitics. &nbsp;

As always, Pakistan increased its defence budget. The Pakistani defence budget has been proposed at Pakistani Rs 1,100 billion for FY 2018-2019 as against the revised budget of Rs 999 billion for 2017-18.&nbsp;

And its no longer 3 A’s — Allah, America and the Army — but ACC — Allah, China and CPEC.

 
China-Pakistan Economic Corridor 
CPEC found mention seven times in Pakistan Finance Minister Miftah Ismail's speech.&nbsp;

Lauding CPEC, Ismail said, “Vision of Mian Nawaz Sharif, CPEC initiative has become a global brand of Pakistan. &nbsp;As part of CPEC, our government initiated road projects that would link north of Pakistan with Gwadar. Trans-Pakistan corridor of motorways and special economic zones are designed to provide jobs, enhance manufacturing base, and increase prosperity and growth.”&nbsp;

He said that as part of CPEC, the Pakistani government has also finalised its plan to increase by three times the speed of trains on Main Line-I from Peshawar to Karachi.

 
Chinese loans replace US aid 
China has already overtaken, by millions of Pakistani rupees, the US when it comes to loans granted to Pakistan, and this year it will grant even more. In FY 2018-2019, China will be giving loans and grants to Pakistan amounting to Pakistani Rs 98,395.783 million.&nbsp;

Of this, Rs 96,895.738 million will be in the form of loans while Rs 1,500 million will be in the form of grants. The US will be providing just Rs 13,523 million but all of it will be a grant. Clearly. most of the Chinese money being pumped into Pakistan is in the form of loans, the rates of interest on which are not known and nor are the tenures.&nbsp;

China however is well known for its loans ensnaring countries in debt traps.&nbsp;

South Asia has a lot of examples. The most famous one being Sri Lanka's Hambantota port of which China has been granted a 99-year lease.

China’s foreign investment has been called predatory and many in Pakistan itself believe that CPEC could turn Pakistan into a Chinese colony.

<img alt="23.JPG" data-entity-type="" data-entity-uuid="" height="685" src="http://images.wionews.com/iniline-images/23.JPG" width="610" />

(The loans and grants provided to Pakistan.)

&nbsp;

The AIIB link 
Interestingly, the China-led AIIB (Asian Infrastructure Investment Bank) is also giving loans to Islamabad.&nbsp;

India, with a 7.6% share, is the second largest shareholder in the bank.&nbsp;

AIIB will be giving Pakistan loans totalling up to Rs 13,189 million. It’s a substantial increase from the Rs 5,289.609 given in FY 2017-2018. The new AIIB loan will be given for rehabilitation of the existing carriageway between the DI Khan-Saraigumble section, the Rajanpur-DG. Khan section, and Sehan-Ratodero.&nbsp;

&nbsp;

Gwadar: China’s helping hand to the port 
China and Pakistan's love child remains Gwadar.&nbsp;

Pakistan has been granted a Rs 200 million loan for fresh water supply and distribution at Gwadar, and a Rs 100 million loan for the upgradation of an existing 50-bed hospital to 300 beds at the port.&nbsp;

China has also made a Rs 1,000 million grant for the construction of the new Gwadar international airport.

 
China to help in Pakistan's space projects 
Beijing will also be helping Pakistan in its space projects.&nbsp;

According to the Estimates of Foreign Assistance 2018-19, China will help Pakistan build a remote sensing satellite by giving it a loan of Rs 1,116 million space centres in Islamabad, Lahore and Karachi with a Rs 700 million loan and a multi-mission satellite (PAK SAT MM1) with a loan of Rs 850 million.&nbsp;

India had approached Pakistan to be a part of the South Asian satellite project, which Islamabad declined. All the other South Asian countries are part of the New Delhi-led project.&nbsp;

&nbsp;

$126.79 billion: Cost of terror since 2001 
The Pakistani economic survey has a special header “Annex-IV: Impact of War in Afghanistan and Ensuing Terrorism on Pakistan's Economy”.&nbsp;

The two pages talk of what Pakistan has been cribbing about for the last 20 years. That they are victims of terror, but without mentioning how they have provided safe haven to terrorists. According to the Economic Survey of Pakistan, in the last 17 years, the direct and indirect cost incurred by Pakistan due to incidents of terrorism totalled up to US$ 126.79 billion 10,762.64 billion in Pakistani rupees.

<img alt="1.JPG" data-entity-type="" data-entity-uuid="" height="480" src="http://images.wionews.com/iniline-images/1.JPG" width="806" />

(The cost of terror paid by Pakistan.)&nbsp;

&nbsp;

Afghan refugees are a burden: Economic Survey of Pakistan 
The Pakistani economic survey says the country “continues to be a target of terrorism, including state-sponsored terrorism from its immediate neighbours”. It goes on to say Afghan refugees are a burden on the Pakistani economy. The survey said: “Hosting of millions of Afghan refugees not only burdened Pakistan’s economy but also put additional stress on its internal security situation. Pakistan continued to face terrorist attacks from terrorist hide-outs in Afghanistan.”

&nbsp;

Footnote 
Nothing of course can happen without a bit of drama in Pakistan.&nbsp;

The Pakistani Finance minister Miftah Ismail was sworn in just a few hours ahead of the budget. A miffed opposition walked out. It may be recalled that Ishaq Dar was the Finance Minister until he voluntarily stepped down after a corruption case against him.

China has already overtaken, by millions of Pakistani rupees, the US when it comes to loans granted to Pakistan, and this year it will grant even more

By Siddhant Sibbal Pakistan's ruling PML(N) has presented its last budget with CPEC, terror and Afghanistan making their way into the papers. But where Pakistan is involved, so is geopolitics. As always, Pakistan increased its defence budget. The Pakistani defence budget has been proposed at Pakistani Rs 1,100 billion for FY 2018-2019 as against the revised budget of Rs 999 billion for 2017-18. And its no longer 3 A’s — Allah, America and the Army — but ACC — Allah, China and CPEC. China-Pakistan Economic Corridor CPEC found mention seven times in Pakistan Finance Minister Miftah Ismail's speech. Lauding CPEC, Ismail said, “Vision of Mian Nawaz Sharif, CPEC initiative has become a global brand of Pakistan. As part of CPEC, our government initiated road projects that would link north of Pakistan with Gwadar. Trans-Pakistan corridor of motorways and special economic zones are designed to provide jobs, enhance manufacturing base, and increase prosperity and growth.” He said that as part of CPEC, the Pakistani government has also finalised its plan to increase by three times the speed of trains on Main Line-I from Peshawar to Karachi. Chinese loans replace US aid China has already overtaken, by millions of Pakistani rupees, the US when it comes to loans granted to Pakistan, and this year it will grant even more. In FY 2018-2019, China will be giving loans and grants to Pakistan amounting to Pakistani Rs 98,395.783 million. Of this, Rs 96,895.738 million will be in the form of loans while Rs 1,500 million will be in the form of grants. The US will be providing just Rs 13,523 million but all of it will be a grant. Clearly. most of the Chinese money being pumped into Pakistan is in the form of loans, the rates of interest on which are not known and nor are the tenures. China however is well known for its loans ensnaring countries in debt traps. South Asia has a lot of examples. The most famous one being Sri Lanka's Hambantota port of which China has been granted a 99-year lease. China’s foreign investment has been called predatory and many in Pakistan itself believe that CPEC could turn Pakistan into a Chinese colony. (The loans and grants provided to Pakistan.) The AIIB link Interestingly, the China-led AIIB (Asian Infrastructure Investment Bank) is also giving loans to Islamabad. India, with a 7.6% share, is the second largest shareholder in the bank. AIIB will be giving Pakistan loans totalling up to Rs 13,189 million. It’s a substantial increase from the Rs 5,289.609 given in FY 2017-2018. The new AIIB loan will be given for rehabilitation of the existing carriageway between the DI Khan-Saraigumble section, the Rajanpur-DG. Khan section, and Sehan-Ratodero. Gwadar: China’s helping hand to the port China and Pakistan's love child remains Gwadar. Pakistan has been granted a Rs 200 million loan for fresh water supply and distribution at Gwadar, and a Rs 100 million loan for the upgradation of an existing 50-bed hospital to 300 beds at the port. China has also made a Rs 1,000 million grant for the construction of the new Gwadar international airport. China to help in Pakistan's space projects Beijing will also be helping Pakistan in its space projects. According to the Estimates of Foreign Assistance 2018-19, China will help Pakistan build a remote sensing satellite by giving it a loan of Rs 1,116 million space centres in Islamabad, Lahore and Karachi with a Rs 700 million loan and a multi-mission satellite (PAK SAT MM1) with a loan of Rs 850 million. India had approached Pakistan to be a part of the South Asian satellite project, which Islamabad declined. All the other South Asian countries are part of the New Delhi-led project. $126.79 billion: Cost of terror since 2001 The Pakistani economic survey has a special header “Annex-IV: Impact of War in Afghanistan and Ensuing Terrorism on Pakistan's Economy”. The two pages talk of what Pakistan has been cribbing about for the last 20 years. That they are victims of terror, but without mentioning how they have provided safe haven to terrorists. According to the Economic Survey of Pakistan, in the last 17 years, the direct and indirect cost incurred by Pakistan due to incidents of terrorism totalled up to US$ 126.79 billion 10,762.64 billion in Pakistani rupees. (The cost of terror paid by Pakistan.) Afghan refugees are a burden: Economic Survey of Pakistan The Pakistani economic survey says the country “continues to be a target of terrorism, including state-sponsored terrorism from its immediate neighbours”. It goes on to say Afghan refugees are a burden on the Pakistani economy. The survey said: “Hosting of millions of Afghan refugees not only burdened Pakistan’s economy but also put additional stress on its internal security situation. Pakistan continued to face terrorist attacks from terrorist hide-outs in Afghanistan.” Footnote Nothing of course can happen without a bit of drama in Pakistan. The Pakistani Finance minister Miftah Ismail was sworn in just a few hours ahead of the budget. A miffed opposition walked out. It may be recalled that Ishaq Dar was the Finance Minister until he voluntarily stepped down after a corruption case against him.

China is Pakistan's new paymaster: A closer look at the Pakistani budget

Congress president Rahul Gandhi today called Prime Minister Narendra Modi's two-day visit to China as the one having "no agenda", but reminded him to raise the Doklam standoff with Chinese troops last year and the China-Pakistan Economic Corridor(CPEC) with the leadership there.

Gandhi mocked Modi, saying "you look tense" on the visit.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
Dear PM, 
 
Saw the live TV feed of your “No Agenda” China visit. 
 
You look tense! 
 
A quick reminder: 
 
1. DOKLAM 
2. China Pakistan Eco Corridor passes through POK. That’s Indian territory. 
 
India wants to hear you talk about these crucial issues. 
 
You have our support.
— Rahul Gandhi (@RahulGandhi) <a href="https://twitter.com/RahulGandhi/status/989788654695567360?ref_src=twsrc%5Etfw">April 27, 2018</a></blockquote>
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<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

However extending his party's support, he told the prime minister that India wants to hear him talk about these crucial issues - Doklam and CPEC - with China.

"Dear PM, Saw the live TV feed of your&nbsp"No Agenda"&nbspChina visit. You look tense! A quick reminder: 1. DOKLAM 2. China Pakistan Economic Corridor passes through POK. That's Indian territory. India wants to hear you talk about these crucial issues. You have our support," Gandhi said on Twitter.

Indian and Chinese troops were locked in a standoff in Doklam area last year. The face-off ended through negotiations after 73 days.

The CPEC, a part of the ambitious Belt and Road Initiative, runs through Pakistan-occupied Kashmir and India opposes the controversial project.

Prime Minister Modi and Chinese President Xi Jinping today began talks at an unprecedented two-day informal summit in Wuhan city in central China. During the visit, the two leaders will have a series of one-on-one conversations on bilateral, global and regional issues.

The CPEC, a part of the ambitious Belt and Road Initiative, runs through Pakistan-occupied Kashmir and India opposes the controversial project.

Congress president Rahul Gandhi today called Prime Minister Narendra Modi's two-day visit to China as the one having "no agenda", but reminded him to raise the Doklam standoff with Chinese troops last year and the China-Pakistan Economic Corridor(CPEC) with the leadership there. Gandhi mocked Modi, saying "you look tense" on the visit. Dear PM, Saw the live TV feed of your “No Agenda” China visit. You look tense! A quick reminder: 1. DOKLAM 2. China Pakistan Eco Corridor passes through POK. That’s Indian territory. India wants to hear you talk about these crucial issues. You have our support. — Rahul Gandhi (@RahulGandhi) April 27, 2018 × However extending his party's support, he told the prime minister that India wants to hear him talk about these crucial issues - Doklam and CPEC - with China. "Dear PM, Saw the live TV feed of your "No Agenda"&nbspChina visit. You look tense! A quick reminder: 1. DOKLAM 2. China Pakistan Economic Corridor passes through POK. That's Indian territory. India wants to hear you talk about these crucial issues. You have our support," Gandhi said on Twitter. Indian and Chinese troops were locked in a standoff in Doklam area last year. The face-off ended through negotiations after 73 days. The CPEC, a part of the ambitious Belt and Road Initiative, runs through Pakistan-occupied Kashmir and India opposes the controversial project. Prime Minister Modi and Chinese President Xi Jinping today began talks at an unprecedented two-day informal summit in Wuhan city in central China. During the visit, the two leaders will have a series of one-on-one conversations on bilateral, global and regional issues.

'No Agenda visit': 'Dear PM, please talk about Doklam, CPEC,' urges Rahul Gandhi

The US $60 billion China-Pakistan Economic Corridor (CPEC) project which is a part of Beijing's promising Belt Road Initiative (BRI) is now turning out to quiet a task in terms of security and in the economic front for China and Pakistan.&nbsp;

"For Pakistan, rising debt is imperilling the country's long-term economic viability. For China, sunk costs in infrastructure assets and personnel on the ground are drawing Beijing deeper into Pakistan's internal security concerns," says the report prepared by the Center for Advanced Defense Studies (C4ADS), a Washington DC-based non-profit organisation dedicated to data-driven analysis and evidence-based reporting of global conflict and security issues.

The Gwadar Port branded and promoted as a signature Pakistan-China development model Gwadar that will eventually be built into an "industrial powerhouse" with planned manufacturing facilities, a free trade zone and a liquefied natural gas (LNG) terminal, is turning out to be unprofitable, with a ship berthing averaging of one-and-a-half per month.

Add to this is the worrisome and shocking statistic that China gets to retain 91 per cent of the port's profits, as financial and lease control of this port for the next 40 years remains with the state-owned China Overseas Ports Holding Co. Ltd., says the C4ADS report.

It's surprising that the first-ever container ship arrived in Gwadar only in March 2018.

"The Port of Gwadar is over a decade old. Construction began in 2002 with a $198 million loan from the China EXIM Bank and it was completed in 2007, at which point the Port of Singapore Authority (PSA) assumed control of the port's operations. For six years, China took a largely backseat role, while PSA and the Pakistani government struggled with the port's development, with no meaningful additions to port infrastructure during this time.PSA abandoned the project in 2013 due in part to Pakistan's worsening internal security environment.China quickly picked up the port's operation and has committed over US $270 million&nbsp;to rehabilitate the port," the C4ADS report reveals.

The report further states that commercial activity at the Gwadar port is well below its potential. Satellite imagery data analyzed by C4ADS suggests the port relies primarily on transshipments rather than import or export routes, with only an estimated 200 ships calling in on the port between 2008 and 2017.

The C4ADS quoted Gwadar Port Authority Chairman Dostain Jamaldini as saying last month, "We receive one or two ships in 15 days."

China, according to C4ADS is looking at Gwadar as a long-term economic investment, as an "end-point" on a route stretching from Gwadar to China's western provinces, a corridor that would shorten China's energy routes by almost 10,000 miles and bypass the Malacca Strait.

"Shipments from the Pakistani coast to Kashgar in China that previously took a month would be completed in 10 days, and the port's strategic location outside of the Gulf of Oman, serves as a gateway between Middle Eastern sources of oil and Indo-Pacific sea lanes, thus alleviating the Malacca Dilemma if a proposed oil pipeline were ever built. The corridor also serves another of Beijing's goals - to bring economic development to inland China."

The report, however, reveals that the CPEC is bedeviled with major structural impediments, the most significant of which is the threat from militants and insurgents.

"At present, the road from China to Pakistan begins with the Karakoram Highway one of the world's most dangerous mountain passes.a route that is regularly closed for snow during several months each year. Much of trade then passes through areas of sovereign territorial disputes and insurgency. In Balochistan, where Gwadar is located, attacks by militants on CPEC projects are estimated to have killed 44 workers and injured over 100 from 2014 to 2016. Once goods finally arrive at Pakistani ports, they typically incur higher dock charges and longer wait times than they would at regional competitors," says the report.

Ongoing investments by Beijing notwithstanding, another global concern, is the huge number of Chinese entering Pakistan for work.&nbsp;

According to the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), roughly 250,000 Chinese expatriates arrive in Pakistan each year for work.

"The increasing numbers of Chinese citizens and other interests on the ground are pushing Beijing to take an increasingly direct role in Pakistan's internal security."

Chinese Foreign Minister Wang Yi is on record as saying, "How to protect China's ever-expanding overseas interests is an urgent concern for Chinese diplomacy."

The limited transparency on CPEC-related investments puts a cloud over how much Pakistan will eventually benefit.

"If completed as planned, CPEC's productivity would be equivalent to 17% of Pakistan's 2015 gross GDP, and as many as 700,000 jobs would be created. As a result, Pakistan could see economic growth of 2.5%. Yet this is highly speculative as few credible studies have been conducted on the structures and economics of CPEC deals. The State Bank of Pakistan's governor has publicly called on CPEC to be more transparent, saying, "I don't know out of the $46 billion how much is debt, how much is equity, and how much is kind."

Available evidence suggests CPEC projects, including Gwadar, disproportionately favor China while unfavorably burdening Pakistan in the long term.

Meanwhile, China has discarded speculations about the CPEC project involving "hidden" military designs as well. There were concerns expressed in Washington and New Delhi that Beijing could try to turn Gwadar into a military port in the future to try to dominate the Indian Ocean.&nbsp;

“We don’t want to make the CPEC as such a kind of platform,” the ambassador emphasised. However, he added, it is “natural and understandable” that the project’s massive size and design has raised doubts and suspicions” about its aims, said Yao Jing, Chinese Ambassador to Islamabad.

CPEC aims to link the landlocked western Chinese region of Xinjiang to Gwadar, allowing ships carrying China’s oil imports and other goods from the Persian Gulf to use a much shorter and secure route and avoid the existing troubled route through the Strait of Malacca.

(With inputs from ANI)

Meanwhile, China has discarded speculations about the CPEC project involving 'hidden' military designs as well

The US $60 billion China-Pakistan Economic Corridor (CPEC) project which is a part of Beijing's promising Belt Road Initiative (BRI) is now turning out to quiet a task in terms of security and in the economic front for China and Pakistan. "For Pakistan, rising debt is imperilling the country's long-term economic viability. For China, sunk costs in infrastructure assets and personnel on the ground are drawing Beijing deeper into Pakistan's internal security concerns," says the report prepared by the Center for Advanced Defense Studies (C4ADS), a Washington DC-based non-profit organisation dedicated to data-driven analysis and evidence-based reporting of global conflict and security issues. The Gwadar Port branded and promoted as a signature Pakistan-China development model Gwadar that will eventually be built into an "industrial powerhouse" with planned manufacturing facilities, a free trade zone and a liquefied natural gas (LNG) terminal, is turning out to be unprofitable, with a ship berthing averaging of one-and-a-half per month. Add to this is the worrisome and shocking statistic that China gets to retain 91 per cent of the port's profits, as financial and lease control of this port for the next 40 years remains with the state-owned China Overseas Ports Holding Co. Ltd., says the C4ADS report. It's surprising that the first-ever container ship arrived in Gwadar only in March 2018. "The Port of Gwadar is over a decade old. Construction began in 2002 with a $198 million loan from the China EXIM Bank and it was completed in 2007, at which point the Port of Singapore Authority (PSA) assumed control of the port's operations. For six years, China took a largely backseat role, while PSA and the Pakistani government struggled with the port's development, with no meaningful additions to port infrastructure during this time.PSA abandoned the project in 2013 due in part to Pakistan's worsening internal security environment.China quickly picked up the port's operation and has committed over US $270 million to rehabilitate the port," the C4ADS report reveals. The report further states that commercial activity at the Gwadar port is well below its potential. Satellite imagery data analyzed by C4ADS suggests the port relies primarily on transshipments rather than import or export routes, with only an estimated 200 ships calling in on the port between 2008 and 2017. The C4ADS quoted Gwadar Port Authority Chairman Dostain Jamaldini as saying last month, "We receive one or two ships in 15 days." China, according to C4ADS is looking at Gwadar as a long-term economic investment, as an "end-point" on a route stretching from Gwadar to China's western provinces, a corridor that would shorten China's energy routes by almost 10,000 miles and bypass the Malacca Strait. "Shipments from the Pakistani coast to Kashgar in China that previously took a month would be completed in 10 days, and the port's strategic location outside of the Gulf of Oman, serves as a gateway between Middle Eastern sources of oil and Indo-Pacific sea lanes, thus alleviating the Malacca Dilemma if a proposed oil pipeline were ever built. The corridor also serves another of Beijing's goals - to bring economic development to inland China." The report, however, reveals that the CPEC is bedeviled with major structural impediments, the most significant of which is the threat from militants and insurgents. "At present, the road from China to Pakistan begins with the Karakoram Highway one of the world's most dangerous mountain passes.a route that is regularly closed for snow during several months each year. Much of trade then passes through areas of sovereign territorial disputes and insurgency. In Balochistan, where Gwadar is located, attacks by militants on CPEC projects are estimated to have killed 44 workers and injured over 100 from 2014 to 2016. Once goods finally arrive at Pakistani ports, they typically incur higher dock charges and longer wait times than they would at regional competitors," says the report. Ongoing investments by Beijing notwithstanding, another global concern, is the huge number of Chinese entering Pakistan for work. According to the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), roughly 250,000 Chinese expatriates arrive in Pakistan each year for work. "The increasing numbers of Chinese citizens and other interests on the ground are pushing Beijing to take an increasingly direct role in Pakistan's internal security." Chinese Foreign Minister Wang Yi is on record as saying, "How to protect China's ever-expanding overseas interests is an urgent concern for Chinese diplomacy." The limited transparency on CPEC-related investments puts a cloud over how much Pakistan will eventually benefit. "If completed as planned, CPEC's productivity would be equivalent to 17% of Pakistan's 2015 gross GDP, and as many as 700,000 jobs would be created. As a result, Pakistan could see economic growth of 2.5%. Yet this is highly speculative as few credible studies have been conducted on the structures and economics of CPEC deals. The State Bank of Pakistan's governor has publicly called on CPEC to be more transparent, saying, "I don't know out of the $46 billion how much is debt, how much is equity, and how much is kind." Available evidence suggests CPEC projects, including Gwadar, disproportionately favor China while unfavorably burdening Pakistan in the long term. Meanwhile, China has discarded speculations about the CPEC project involving "hidden" military designs as well. There were concerns expressed in Washington and New Delhi that Beijing could try to turn Gwadar into a military port in the future to try to dominate the Indian Ocean. “We don’t want to make the CPEC as such a kind of platform,” the ambassador emphasised. However, he added, it is “natural and understandable” that the project’s massive size and design has raised doubts and suspicions” about its aims, said Yao Jing, Chinese Ambassador to Islamabad. CPEC aims to link the landlocked western Chinese region of Xinjiang to Gwadar, allowing ships carrying China’s oil imports and other goods from the Persian Gulf to use a much shorter and secure route and avoid the existing troubled route through the Strait of Malacca. (With inputs from ANI)

China, Pakistan having security, economic issues in CPEC project: Report

Pakistan government has been pushed into debt crisis due to payments to Chinese companies for infrastructure projects under the China-Pakistan Economic Corridor(CPEC), a report in a London newspaper said.

The government has also has been hit by falling remittances from Pakistani migrant workers abroad. In order to raise funds, the Pak government is targeting expatriates living abroad including borrowing from Middle Eastern countries or from Chinese commercial banks, a London newspaper reported.

Pakistan's foreign reserves have hit a low this month to $11.4 billion down from $14.1 billion in December.&nbsp;

The World Bank had told Pakistan last year that it needed to raise $17 billion to cover its debt repayments and current account deficit this year.

Last year, Islamabad had reportedly borrowed more than $1 billion from Chinese state-backed institutions as its current account deficit worsened signalling Pak's dependence on the Communist state.&nbsp;

The London newspaper said Pakistan hopes to raise&nbsp;upto $1billion from expatriates worldwide. Pakistan has allowed its rupee to depreciate nearly 10 per cent against the dollar in recent months in order to hold off the current account deficit,&nbsp;increase the value of foreign remittances and balance out imports in the country.

The report said Pakistan's de facto finance minister Miftah Ismail is&nbsp;seeking to issue debt denominated in Renminbi - the official currency of China- for the first time.

As the country prepares to elect a new prime minister in July analysts say it could become a huge election issue with very little chance of Pak officials being able to raise forex reserves in the next three months.

The report said Pakistan's de facto finance minister Miftah Ismail was seeking to issue debt denominated in Renminbi

Pakistan government has been pushed into debt crisis due to payments to Chinese companies for infrastructure projects under the China-Pakistan Economic Corridor(CPEC), a report in a London newspaper said. The government has also has been hit by falling remittances from Pakistani migrant workers abroad. In order to raise funds, the Pak government is targeting expatriates living abroad including borrowing from Middle Eastern countries or from Chinese commercial banks, a London newspaper reported. Pakistan's foreign reserves have hit a low this month to $11.4 billion down from $14.1 billion in December. The World Bank had told Pakistan last year that it needed to raise $17 billion to cover its debt repayments and current account deficit this year. Last year, Islamabad had reportedly borrowed more than $1 billion from Chinese state-backed institutions as its current account deficit worsened signalling Pak's dependence on the Communist state. The London newspaper said Pakistan hopes to raise upto $1billion from expatriates worldwide. Pakistan has allowed its rupee to depreciate nearly 10 per cent against the dollar in recent months in order to hold off the current account deficit, increase the value of foreign remittances and balance out imports in the country. The report said Pakistan's de facto finance minister Miftah Ismail is seeking to issue debt denominated in Renminbi - the official currency of China- for the first time. As the country prepares to elect a new prime minister in July analysts say it could become a huge election issue with very little chance of Pak officials being able to raise forex reserves in the next three months.

Pak eyes expatriates, China bonds as foreign reserves dip: Report

Iran has expressed keen interest in entering into a partnership with Pakistan to explore possibilities in the China-Pakistan Economic Corridor (CPEC) which falls under the ambitious One Belt, One Road (OBOR).

The remarks were made as Iran's Minister for Roads and Urbanisation Abbas Akhoundi visited Karachi Port Trust (KPT) on Friday along with a high-level Iranian delegation, a media reported.

Exhibiting interest in transshipment cargo, the visiting minister underscored that Iran is keen to work with Pakistan for inter-connection linkage between Karachi Port and Iranian port city Bandar Abbas.

Furthermore, the minister touted the ample space of 204,000 hectares available at Bandar Abbas for promoting transhipment cargo handling facility.

Iran is right next to Pakistan geographically having the strategic advantage as both share the ocean waters which will thus help Iran to carry on trade with China as well via Gwadar port (CPEC).

On a related note the Iranian delegation took a keen interest in the deepwater container port project of KPT as well and it was given a tour of the South Asia Pakistan Terminals Ltd at the Deepwater Container Port, according to the report.

The remarks were made as Iran's Minister for Roads and Urbanisation Abbas Akhoundi visited Karachi Port Trust (KPT) on Friday along with a high level Iranian delegation, a media reported

Iran has expressed keen interest in entering into a partnership with Pakistan to explore possibilities in the China-Pakistan Economic Corridor (CPEC) which falls under the ambitious One Belt, One Road (OBOR). The remarks were made as Iran's Minister for Roads and Urbanisation Abbas Akhoundi visited Karachi Port Trust (KPT) on Friday along with a high-level Iranian delegation, a media reported. Exhibiting interest in transshipment cargo, the visiting minister underscored that Iran is keen to work with Pakistan for inter-connection linkage between Karachi Port and Iranian port city Bandar Abbas. Furthermore, the minister touted the ample space of 204,000 hectares available at Bandar Abbas for promoting transhipment cargo handling facility. Iran is right next to Pakistan geographically having the strategic advantage as both share the ocean waters which will thus help Iran to carry on trade with China as well via Gwadar port (CPEC). On a related note the Iranian delegation took a keen interest in the deepwater container port project of KPT as well and it was given a tour of the South Asia Pakistan Terminals Ltd at the Deepwater Container Port, according to the report.

Iran keen to partner Pakistan on CPEC

The controversial China-Pakistan Economic Corridor - the flagship project of China's ambitious Belt and Road Initiative (BRI) - is being extended to Afghanistan, a study report said Sunday.

The BRI has injected "fresh vitality" to Asia's economic cooperation and helped the continent to reshape its international relations, said the Asian Competitiveness Annual Report 2018 released here on the sidelines of China's Boao Forum for Asia (BFA) annual conference.

China in December had unveiled its plans to extend the&nbsp;50 billion CPEC to Afghanistan which has sparked concerns in India.

Chinese Foreign Minister Wang Yi during his meeting with his Pakistan and Afghan counterparts had offered to extend CPEC to Afghanistan.

"China and Pakistan are willing to look at with Afghanistan, on the basis of win-win, mutually beneficial principles, using an appropriate means to extend the China-Pakistan Economic Corridor to Afghanistan," Wang had said at the trilateral foreign ministers' meeting.

The BFA was formed by China in 2001 on the lines of the World Economic Forum in Davos, and holds its meeting every year.

This year's forum to be held till April 11 has opened at Boao today a coastal town in the southern island province of Hainan. President Xi Jinping is due to address the conference.

"China-Pakistan Economic Corridor (CPEC), a flagship project under the Belt and Road Initiative, has not only improved local infrastructure but also is extending toward Afghanistan, reducing poverty, the hotbed of terrorism, and bringing better prospects for local people's lives," state-run Xinhua news agency quoted the report as saying.

The multi-billion-dollar BRI, the pet project of Xi has become a major stumbling block in India-China relations as CPEC has been listed as its "flagship project".

India has protested to China over CPEC, which is being built through Pakistan-occupied Kashmir (PoK).

Outlining India's concerns on BRI, Indian Ambassador to China, Gautam Bambawale told Hong Kong-based South China Morning Post recently that "when we talk about development projects or connectivity projects, they must be transparent, fair and equal. There are certain internationally accepted norms for such projects".

"If a project meets those norms, we will be happy to take part in it. One of the norms is the project should not violate the sovereignty and territorial integrity of a country. Unfortunately, there is this thing called CPEC, which is called a flagship project of BRI which violates India's sovereignty and territory integrity. Therefore, we oppose it," he said.

Earlier, he told state-run Global Times that both countries should resolve differences. "This is a major problem for us. We need to talk about it, not push it under the carpet," he said.&nbsp;

China in December had unveiled its plans to extend the 50 billion CPEC to Afghanistan which has sparked concerns in India

The controversial China-Pakistan Economic Corridor - the flagship project of China's ambitious Belt and Road Initiative (BRI) - is being extended to Afghanistan, a study report said Sunday. The BRI has injected "fresh vitality" to Asia's economic cooperation and helped the continent to reshape its international relations, said the Asian Competitiveness Annual Report 2018 released here on the sidelines of China's Boao Forum for Asia (BFA) annual conference. China in December had unveiled its plans to extend the 50 billion CPEC to Afghanistan which has sparked concerns in India. Chinese Foreign Minister Wang Yi during his meeting with his Pakistan and Afghan counterparts had offered to extend CPEC to Afghanistan. "China and Pakistan are willing to look at with Afghanistan, on the basis of win-win, mutually beneficial principles, using an appropriate means to extend the China-Pakistan Economic Corridor to Afghanistan," Wang had said at the trilateral foreign ministers' meeting. The BFA was formed by China in 2001 on the lines of the World Economic Forum in Davos, and holds its meeting every year. This year's forum to be held till April 11 has opened at Boao today a coastal town in the southern island province of Hainan. President Xi Jinping is due to address the conference. "China-Pakistan Economic Corridor (CPEC), a flagship project under the Belt and Road Initiative, has not only improved local infrastructure but also is extending toward Afghanistan, reducing poverty, the hotbed of terrorism, and bringing better prospects for local people's lives," state-run Xinhua news agency quoted the report as saying. The multi-billion-dollar BRI, the pet project of Xi has become a major stumbling block in India-China relations as CPEC has been listed as its "flagship project". India has protested to China over CPEC, which is being built through Pakistan-occupied Kashmir (PoK). Outlining India's concerns on BRI, Indian Ambassador to China, Gautam Bambawale told Hong Kong-based South China Morning Post recently that "when we talk about development projects or connectivity projects, they must be transparent, fair and equal. There are certain internationally accepted norms for such projects". "If a project meets those norms, we will be happy to take part in it. One of the norms is the project should not violate the sovereignty and territorial integrity of a country. Unfortunately, there is this thing called CPEC, which is called a flagship project of BRI which violates India's sovereignty and territory integrity. Therefore, we oppose it," he said. Earlier, he told state-run Global Times that both countries should resolve differences. "This is a major problem for us. We need to talk about it, not push it under the carpet," he said.

China-Pakistan Economic Corridor being extended to Afghanistan: Report

Pakistan Prime Minister Shahid Khaqan Abbasi will project the progress in implementing USD 50 billion China Pakistan Economic Corridor projects during this year's Boao Forum for Asia, according to the Foreign Office.

This year's forum in Boao, a coastal town in the southern island province of China's Hainan, will be themed 'Open and Innovative Asia for a World of Greater Prosperity'.

The Pakistan Foreign Office said in a statement that Abbasi will lead the Pakistani delegation to the Boao Forum Annual Conference for Asia.

Abbasi will be one of the keynote speakers in the opening session of the forum along with President Xi Jinping, and other leaders attending the annual forum.

"The Prime Minister will also hold bilateral meetings with Chinese and other world leaders," said the FO.

The Forum would provide an opportunity to Abbasi to project the progress in implementing China Pakistan Economic Corridor projects.

The 3,000-km-long CPEC is aimed at connecting China and Pakistan with rail, road, pipelines and optical cable fiber network. It connects China's Xinjiang province with Pakistan's Gwadar port, providing access to China to the Arabian Sea.

The project, when completed, would enable China to pump its oil supplies from the Middle East through pipelines to Xinjiang cutting considerable distance for Chinese ships to travel to China.

"The visit will help in promoting Pakistan as a successful economic partner in the region as well as in the global context, the FO said.

The Boao Forum for Asia is a non-profit organisation that hosts high-level forums for leaders from government, business, and academia in Asia and other continents to share their vision on the most pressing issues in this dynamic region and the world at large.

Modelled after the World Economic Forum held annually in Davos, Switzerland, the Boao Forum has its fixed address in Bo'ao, Hainan province, China, although the Secretariat is based in Beijing. 
Pakistan is one of the 26 countries of this Forum, according to the FO.

Abbasi will lead the Pakistani delegation to the Boao Forum Annual Conference for Asia

Pakistan Prime Minister Shahid Khaqan Abbasi will project the progress in implementing USD 50 billion China Pakistan Economic Corridor projects during this year's Boao Forum for Asia, according to the Foreign Office. This year's forum in Boao, a coastal town in the southern island province of China's Hainan, will be themed 'Open and Innovative Asia for a World of Greater Prosperity'. The Pakistan Foreign Office said in a statement that Abbasi will lead the Pakistani delegation to the Boao Forum Annual Conference for Asia. Abbasi will be one of the keynote speakers in the opening session of the forum along with President Xi Jinping, and other leaders attending the annual forum. "The Prime Minister will also hold bilateral meetings with Chinese and other world leaders," said the FO. The Forum would provide an opportunity to Abbasi to project the progress in implementing China Pakistan Economic Corridor projects. The 3,000-km-long CPEC is aimed at connecting China and Pakistan with rail, road, pipelines and optical cable fiber network. It connects China's Xinjiang province with Pakistan's Gwadar port, providing access to China to the Arabian Sea. The project, when completed, would enable China to pump its oil supplies from the Middle East through pipelines to Xinjiang cutting considerable distance for Chinese ships to travel to China. "The visit will help in promoting Pakistan as a successful economic partner in the region as well as in the global context, the FO said. The Boao Forum for Asia is a non-profit organisation that hosts high-level forums for leaders from government, business, and academia in Asia and other continents to share their vision on the most pressing issues in this dynamic region and the world at large. Modelled after the World Economic Forum held annually in Davos, Switzerland, the Boao Forum has its fixed address in Bo'ao, Hainan province, China, although the Secretariat is based in Beijing. Pakistan is one of the 26 countries of this Forum, according to the FO.

Pakistan Prime Minister to project progress in CPEC in Boao Forum

The 'China-Pakistan Economic Corridor' (CPEC) violates India's territorial sovereignty and integrity, the Ministry of external affairs said on Thursday.

The ministry also added that despite reports indicating India may cooperate with China on the One Belt and One Road initiative(OBOR), the government had no such plans.

"Our position on OBOR/BRI is clear and there is no change. The so-called 'China-Pakistan Economic Corridor' (CPEC) violates India's sovereignty and territorial integrity. No country can accept a project that ignores its core concerns on sovereignty and territorial integrity," the external affairs ministry said in a statement.

Last year in May India refused to send its officials to the OBOR world conference in Beijing and has consistently distanced itself from the CPEC project between China and Pakistan.

"We are of firm belief that connectivity initiatives must be based on universally recognized international norms, good governance, rule of law, openness, transparency and equality, and must be pursued in a manner that respects the sovereignty and territorial integrity," India's external affairs ministry said.

India's neighbours Nepal and Myanmar have warmed up to China's OBOR project with several multi-billion projects set to be signed with Pakistan leading the initiative in large-scale existing train and road contracts with China.

The One Belt, One Road project seeks to connect China with South Asian and European nations through train, sea and road networks spread across vast swatches in central Asia and other nations.&nbsp;

Beijing believes greater connectivity would allow for free flow of goods over vast areas however India, including several European countries including France and the UK including the IMF have raised concerns over the project and Beijing's attempt to burden countries with deals on debts and development in Africa and Asia.

<iframe allow="autoplay encrypted-media" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/FO37w-teMmI" width="560"></iframe>

The One Belt, One Road project seeks to connect China with South Asian and European nations through train, sea and road networks

The 'China-Pakistan Economic Corridor' (CPEC) violates India's territorial sovereignty and integrity, the Ministry of external affairs said on Thursday. The ministry also added that despite reports indicating India may cooperate with China on the One Belt and One Road initiative(OBOR), the government had no such plans. "Our position on OBOR/BRI is clear and there is no change. The so-called 'China-Pakistan Economic Corridor' (CPEC) violates India's sovereignty and territorial integrity. No country can accept a project that ignores its core concerns on sovereignty and territorial integrity," the external affairs ministry said in a statement. Last year in May India refused to send its officials to the OBOR world conference in Beijing and has consistently distanced itself from the CPEC project between China and Pakistan. "We are of firm belief that connectivity initiatives must be based on universally recognized international norms, good governance, rule of law, openness, transparency and equality, and must be pursued in a manner that respects the sovereignty and territorial integrity," India's external affairs ministry said. India's neighbours Nepal and Myanmar have warmed up to China's OBOR project with several multi-billion projects set to be signed with Pakistan leading the initiative in large-scale existing train and road contracts with China. The One Belt, One Road project seeks to connect China with South Asian and European nations through train, sea and road networks spread across vast swatches in central Asia and other nations. Beijing believes greater connectivity would allow for free flow of goods over vast areas however India, including several European countries including France and the UK including the IMF have raised concerns over the project and Beijing's attempt to burden countries with deals on debts and development in Africa and Asia.

China-Pakistan Economic Corridor violates India's territorial sovereignty: External affairs ministry

India&#39;s permanent <a href="http://www.wionews.com/world/empowered-xi-jinping-says-china-ready-to-fight-bloody-battle-36473">representative at the United Nations</a>, Syed Akbaruddin said today that India and China are &quot;frenemies&quot; who are working with each other despite disagreements.

While responding<a href="http://www.wionews.com/india-news/chinese-fighter-planes-helicopters-conducting-reconnaissance-over-north-doklam-intelligence-sources-33036"> to questions at Georgetown University</a>, India&#39;s top diplomat said: &quot;In Hollywood there is a term, which has become quite popular. And that, I think, is called frenemies.&quot;&nbsp;

&quot;That&#39;s what we have with China. We engaged with them, we compete with them. In some areas we work with them together and in some areas we agree to disagree and move on,&quot; Akbaruddin added.

India and China were engaged in a battle of nerves over Doklam last year with troops from both countries set on high alert, however, both sides decided to talk to each other and bring down tension in the region.

PM Modi later visited Beijing as both countries vowed to work with each other in the interests of the region.

While responding to China&#39;s controversial One Belt, One Road(OBOR) initiative which is widely resisted by India, Akbaruddin said: &quot;Belt and Road Initiative, to me, is not a normal multilateral or plurilateral approach...We are not party to that.&quot;

India had skipped China&#39;s high-profile Belt and Road Forum last year due to sovereignty concerns over the $50 billion China-Pakistan Economic Corridor (CPEC).

On the contentious Kashmir issue and Pakistan&#39;s oft-repeated demand on plebiscite, Akbaruddin said: &quot;Frankly to me, issues of India and Pakistan, the way you framed it are yesterday&#39;s problems. This does not mean that we don&#39;t need to address them,&quot; he said, adding that Pakistan has no internal support on it.

India and China were engaged in a battle of nerves over Doklam last year with troops from both countries set on high alert

India's permanent representative at the United Nations, Syed Akbaruddin said today that India and China are "frenemies" who are working with each other despite disagreements. While responding to questions at Georgetown University, India's top diplomat said: "In Hollywood there is a term, which has become quite popular. And that, I think, is called frenemies." "That's what we have with China. We engaged with them, we compete with them. In some areas we work with them together and in some areas we agree to disagree and move on," Akbaruddin added. India and China were engaged in a battle of nerves over Doklam last year with troops from both countries set on high alert, however, both sides decided to talk to each other and bring down tension in the region. PM Modi later visited Beijing as both countries vowed to work with each other in the interests of the region. While responding to China's controversial One Belt, One Road(OBOR) initiative which is widely resisted by India, Akbaruddin said: "Belt and Road Initiative, to me, is not a normal multilateral or plurilateral approach...We are not party to that." India had skipped China's high-profile Belt and Road Forum last year due to sovereignty concerns over the $50 billion China-Pakistan Economic Corridor (CPEC). On the contentious Kashmir issue and Pakistan's oft-repeated demand on plebiscite, Akbaruddin said: "Frankly to me, issues of India and Pakistan, the way you framed it are yesterday's problems. This does not mean that we don't need to address them," he said, adding that Pakistan has no internal support on it.

'India, China are 'frenemies',' says India's UN diplomat Akbaruddin

Pakistan Interior Minister Ahsan Iqbal has said that Pakistan would be the &#39;industrial hub&#39; of the entire South Asian region soon, after the China-Pakistan Economic Corridor (CPEC) project is built.

In an interview with a private television channel, Iqbal said that the CPEC project would help to improve drastically in social infrastructure, industrial cooperation, agriculture, energy and other key sectors, adding that it would help to create millions of job opportunities for the Pakistani youth&nbsp;

The minister said in 2013 when the Pakistan Muslim League-Nawaz (PML-N) came in to power, the country was facing many challenges, including terrorism, energy shortfall, and deteriorating law and order situation. The government with its effective policies, reduced terrorist acts, overcame energy shortage and improved the law and order situation.

&quot;Some 11,500-megawatt electricity was added to the national grid during the last four years. About USD 35 billion has been spent in the energy sector only and there was not even a single penny of loan included in it, rather it was investment under the CPEC,&quot; Iqbal asserted.

The Pakistani leader further said that the USD 62 billion economic corridor was launched after &#39;comprehensive consultation and consensus&#39; from all political parties which is a combination of uilding roads, rails, power plants and economic free zones in Pakistan. He also termed the CPEC project as a &#39;gamechanger&#39; for the country&#39;s economy as well.

He said that Gilgit-Baltistan and Balochistan would become the &#39;gateways&#39; for the economic corridor and trade zones would be set up at all provinces in Pakistan.

He added that Chinese and Pakistani companies would make large-scale investment in the trade zones, which would not only create new jobs for the citizens but also help to transfer &#39;new technology to Pakistan&#39;.

Last week, Iqbal had said that complete development og Gwadar will make Pakistan a hub of regional trade. He further announced that &nbsp;a genuine programme was initiated to mine coal from Thar, and first coal-based power project in the area which will become operational by the end of this year. He said Thar coal is enough to generate five thousand megawatts of electricity for four hundred years.

Further, he talked about the level of improvement in Balochistan and measures the Government had tajen to address the conditions in the state.&nbsp;

India is against the CPEC project since it passes through the disputed Pakistan-occupied Kashmir (PoK) region.&nbsp;

(With inputs from ANI) 
&nbsp;

Iqbal said that the CPEC project would help to improve drastically in social infrastructure, industrial cooperation, agriculture, energy and other key sectors

Pakistan Interior Minister Ahsan Iqbal has said that Pakistan would be the 'industrial hub' of the entire South Asian region soon, after the China-Pakistan Economic Corridor (CPEC) project is built. In an interview with a private television channel, Iqbal said that the CPEC project would help to improve drastically in social infrastructure, industrial cooperation, agriculture, energy and other key sectors, adding that it would help to create millions of job opportunities for the Pakistani youth The minister said in 2013 when the Pakistan Muslim League-Nawaz (PML-N) came in to power, the country was facing many challenges, including terrorism, energy shortfall, and deteriorating law and order situation. The government with its effective policies, reduced terrorist acts, overcame energy shortage and improved the law and order situation. "Some 11,500-megawatt electricity was added to the national grid during the last four years. About USD 35 billion has been spent in the energy sector only and there was not even a single penny of loan included in it, rather it was investment under the CPEC," Iqbal asserted. The Pakistani leader further said that the USD 62 billion economic corridor was launched after 'comprehensive consultation and consensus' from all political parties which is a combination of uilding roads, rails, power plants and economic free zones in Pakistan. He also termed the CPEC project as a 'gamechanger' for the country's economy as well. He said that Gilgit-Baltistan and Balochistan would become the 'gateways' for the economic corridor and trade zones would be set up at all provinces in Pakistan. He added that Chinese and Pakistani companies would make large-scale investment in the trade zones, which would not only create new jobs for the citizens but also help to transfer 'new technology to Pakistan'. Last week, Iqbal had said that complete development og Gwadar will make Pakistan a hub of regional trade. He further announced that a genuine programme was initiated to mine coal from Thar, and first coal-based power project in the area which will become operational by the end of this year. He said Thar coal is enough to generate five thousand megawatts of electricity for four hundred years. Further, he talked about the level of improvement in Balochistan and measures the Government had tajen to address the conditions in the state. India is against the CPEC project since it passes through the disputed Pakistan-occupied Kashmir (PoK) region. (With inputs from ANI)

Pakistan to be 'industrial hub' of South Asia after CPEC project: Pak Interior Minister

A group of policymakers on Tuesday recommended Pakistan to establish a specific China-Pakistan Economic Corridor&quot; China-Pakistan Economic Corridor (CPEC) unit within the framework of Council of Common Interests (CCI), in order to achieve &quot;transparency and efficiency&quot; in the project.

On the launch of 10th Annual Report titled &#39;The State of the Economy: CPEC Review and Analysis&#39;, Shahid Javed Burki of the Institute of Public Policy opined that the Chinese-funded project had not yet been fully &quot;defined and developed&quot;.

&quot;To realise its full potential, the CPEC program must have the support of all the citizens,&quot; he said.

The CCI is a constitutional body in Pakistan, which resolves the disputes of power-sharing between the country and its provinces. The body is chaired by the Prime Minister of Pakistan.

According to the report, it stated that proper planning of the four proposed functional zones was essentially imperative for harnessing the comparative and competitive advantage of each zone based on agro and other value chains, The Express Tribune reported.

Burki claimed that the CPEC project was expected to add 2 percent growth to Pakistan&#39;s gross domestic product (GDP) and greater integration of the country&#39;s backward areas with the developed areas.

Stressing on the benefit of the economic corridor, Burki added, &quot;CPEC will also link Pakistan with the global economic system from which it has remained relatively detached.&quot;

Former State Bank of Pakistan governor Ishrat Husain who also attended the event, touted the CPEC project to help in boosting technology and human development in Pakistan.

The building of the USD 62 billion economic corridor gives China access to waterways which is about 40 percent of the world&#39;s oil passes. When built, it will link Gwadar to Xinjiang region in China.

In response to it, a certain section of people, especially the Baloch people have harboured fears of Pakistan being colonised by the Chinese.

India against the CPEC project since it passes through the disputed Pakistan-occupied Kashmir (PoK) region.&nbsp;

Shahid Javed Burki of the Institute of Public Policy opined that the Chinese-funded project had not yet been fully 'defined and developed'

A group of policymakers on Tuesday recommended Pakistan to establish a specific China-Pakistan Economic Corridor" China-Pakistan Economic Corridor (CPEC) unit within the framework of Council of Common Interests (CCI), in order to achieve "transparency and efficiency" in the project. On the launch of 10th Annual Report titled 'The State of the Economy: CPEC Review and Analysis', Shahid Javed Burki of the Institute of Public Policy opined that the Chinese-funded project had not yet been fully "defined and developed". "To realise its full potential, the CPEC program must have the support of all the citizens," he said. The CCI is a constitutional body in Pakistan, which resolves the disputes of power-sharing between the country and its provinces. The body is chaired by the Prime Minister of Pakistan. According to the report, it stated that proper planning of the four proposed functional zones was essentially imperative for harnessing the comparative and competitive advantage of each zone based on agro and other value chains, The Express Tribune reported. Burki claimed that the CPEC project was expected to add 2 percent growth to Pakistan's gross domestic product (GDP) and greater integration of the country's backward areas with the developed areas. Stressing on the benefit of the economic corridor, Burki added, "CPEC will also link Pakistan with the global economic system from which it has remained relatively detached." Former State Bank of Pakistan governor Ishrat Husain who also attended the event, touted the CPEC project to help in boosting technology and human development in Pakistan. The building of the USD 62 billion economic corridor gives China access to waterways which is about 40 percent of the world's oil passes. When built, it will link Gwadar to Xinjiang region in China. In response to it, a certain section of people, especially the Baloch people have harboured fears of Pakistan being colonised by the Chinese. India against the CPEC project since it passes through the disputed Pakistan-occupied Kashmir (PoK) region.

Pakistan policymakers recommend better management of CPEC

Chinese observer <a href="http://www.wionews.com/world/obor-project-should-not-be-seen-as-geo-strategic-tool-china-34691">Hu Zhiyong speaking to state-run</a> newspaper Global Times said that India wants to maintain relations with its partners in South Asia, &quot;but those countries may not listen to India.&quot;

The <a href="http://www.wionews.com/world/maldives-president-abdulla-yameen-backs-chinas-obor-signs-mou-26163">right-leaning Chinese daily quoting</a> several Indian reports said PM Modi will be engaging with its South Asian neighbours this year in a major foreign policy initiative amid China&#39;s relentless push to make inroads into Himalayan states and &quot;attempts to implement projects in Bangladesh under China&#39;s Belt and Road(OBOR) initiative.

&quot;India will focus on diplomacy with its neighbours this year, including Bhutan, Bangladesh and Nepal,&quot; the newspaper said, asserting that the strategy is likely to fail.

The newspaper quoted the Chinese foreign ministry spokesman Lu Kang saying that the Communist state is ready to develop Sino-Indian relations to boost mutual trust.

Hu Zhiyong, research fellow at the Institute of International Relations of the Shanghai Academy of Social Sciences told Global Times despite India&#39;s renewed push to further ties with its neighbours &quot;will not work&quot;, adding,&quot;Nepal&#39;s election with pro-China KP Sharma Oli taking office as prime minister for the second time this February was a heavy blow to India.&quot;

&quot;South Asian countries including Sri Lanka and the Maldives have been actively participating in China&#39;s Belt and Road initiative,&quot; Hu said.

Hu told the daily that India can reverse its &quot;passive situation&quot; in the region by &quot;sincerely joining the OBOR project&quot;.

&quot;India&#39;s partners in South Asia will diminish if it continues its pro-West policy,&quot; Hu warned.

 
<iframe allow="autoplay; encrypted-media" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/P1ym6JUSkBk" width="560"></iframe> 
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The newspaper quoted the Chinese foreign ministry spokesman Lu Kang saying that the Communist state is ready to develop Sino-Indian relations to boost mutual trust.

Chinese observer Hu Zhiyong speaking to state-run newspaper Global Times said that India wants to maintain relations with its partners in South Asia, "but those countries may not listen to India." The right-leaning Chinese daily quoting several Indian reports said PM Modi will be engaging with its South Asian neighbours this year in a major foreign policy initiative amid China's relentless push to make inroads into Himalayan states and "attempts to implement projects in Bangladesh under China's Belt and Road(OBOR) initiative. "India will focus on diplomacy with its neighbours this year, including Bhutan, Bangladesh and Nepal," the newspaper said, asserting that the strategy is likely to fail. The newspaper quoted the Chinese foreign ministry spokesman Lu Kang saying that the Communist state is ready to develop Sino-Indian relations to boost mutual trust. Hu Zhiyong, research fellow at the Institute of International Relations of the Shanghai Academy of Social Sciences told Global Times despite India's renewed push to further ties with its neighbours "will not work", adding,"Nepal's election with pro-China KP Sharma Oli taking office as prime minister for the second time this February was a heavy blow to India." "South Asian countries including Sri Lanka and the Maldives have been actively participating in China's Belt and Road initiative," Hu said. Hu told the daily that India can reverse its "passive situation" in the region by "sincerely joining the OBOR project". "India's partners in South Asia will diminish if it continues its pro-West policy," Hu warned.

South Asian neighbours may not listen to India: Chinese analyst to Global Times

Although China Pakistan Economic Corridor, CPEC, is being seen by Pakistan as a game changer in terms of development and infrastructure, the highly touted China-backed project could also turn unsustainable.&nbsp;

An NGO in Pakistan has declared 36 Glaciers dangerous for the environment in Gilgit Pakistan area. According to the NGO officials, the glaciers here are melting at a faster rate posing a serious threat to the locals living in the area. The cause of glacier-melting is not global warming but the launch of the &quot;Economic corridor&quot; that is being co-developed by Pakistan and China.

The Gilgit-Baltistan region of Pakistan has reportedly been facing several climatic threats since the launch of the CPEC. The multi-billion dollar developmental and infrastructure project is vital to China&#39;s road development plan. &nbsp;

The 3000-km long, 62 billion dollar corridor runs from Kashgar in West China traversing through Pakistan occupied Kashmir, plains and desserts to reach Gwadar, Pakistan on the shores of the Arabian sea.

China is reported to have been building various infrastructure projects including road and railway networks and power plants in Pakistan with over 30,000 Pakistanis employed on various corridor projects.&nbsp;

Pakstan&#39;s Gilgit-Baltistan enjoys high mountainous range, splendid glaciers and magnificent valleys. The region plays an important role in hydro-power generation.&nbsp;

The China-backed project is now raising the possibility of irrecoverable damage to the area as trees are being cut and farmlands are taken over to undertake construction work.&nbsp;

Pakistan needs to work closely with the government of China to ensure that the construction work does not affect the environment or displace the locals.&nbsp;

A WION report

China is reported to have been building various infrastructure projects including road and railway networks and power plants in Pakistan with over 30,000 Pakistanis employed

Although China Pakistan Economic Corridor, CPEC, is being seen by Pakistan as a game changer in terms of development and infrastructure, the highly touted China-backed project could also turn unsustainable. An NGO in Pakistan has declared 36 Glaciers dangerous for the environment in Gilgit Pakistan area. According to the NGO officials, the glaciers here are melting at a faster rate posing a serious threat to the locals living in the area. The cause of glacier-melting is not global warming but the launch of the "Economic corridor" that is being co-developed by Pakistan and China. The Gilgit-Baltistan region of Pakistan has reportedly been facing several climatic threats since the launch of the CPEC. The multi-billion dollar developmental and infrastructure project is vital to China's road development plan. The 3000-km long, 62 billion dollar corridor runs from Kashgar in West China traversing through Pakistan occupied Kashmir, plains and desserts to reach Gwadar, Pakistan on the shores of the Arabian sea. China is reported to have been building various infrastructure projects including road and railway networks and power plants in Pakistan with over 30,000 Pakistanis employed on various corridor projects. Pakstan's Gilgit-Baltistan enjoys high mountainous range, splendid glaciers and magnificent valleys. The region plays an important role in hydro-power generation. The China-backed project is now raising the possibility of irrecoverable damage to the area as trees are being cut and farmlands are taken over to undertake construction work. Pakistan needs to work closely with the government of China to ensure that the construction work does not affect the environment or displace the locals. A WION report

Watch: How China's project is damaging environment in Pakistan's Gilgit-Baltistan

China today <a href="http://www.wionews.com/world/obor-row-now-german-chancellor-merkel-raises-doubts-on-chinas-investments-in-europe-33651">said the One Belt, One Road initiative</a> (OBOR) put forward by President Xi should not be seen as a &quot;geo-strategic tool&quot;.

The annual session of the<a href="http://www.wionews.com/india-news/india-considers-obor-potential-hazard-new-delhis-clout-will-weaken-china-daily-28317"> Chinese Communist Party is currently</a> underway in Beijing with a number of key decisions on the anvil, the most important among them could be the lifting of term limit for presidents which would pave the way for President&#39;s Xi to be at the helm for over a decade, possibly for life.

The One Belt, One Road(OBOR) project has been President Xi&#39;s primary&nbsp;foreign policy initiative which seeks to create rail and road network from Asia to Europe in order boost trade, however, several countries including India have raised objections to the project which it says infringes upon its territorial sovereignty, an allegation which China denies.

&quot;Five years ago, President Xi Jinping put forward the Belt and Road Initiative. Over the past five years, thanks to joint efforts from all parties, this initiative is being turned into actions from a concept, and it is being translated into reality from a vision,&quot; said Zhang Yesui, the Chinese spokesman said.

&quot;Actually, a lot of progress has been made, for example, infrastructure connectivity building has yielded a lot of early harvests, policy communication is going deeper, cooperation mechanisms are being strengthened, and collaboration on the ground is unfolding across the board,&quot; Zhang added.

China has already concluded large-scale deals in the Indian sub-continent with Pakistan, Nepal including the Maldives to ensure a continued thrust even as India has raised objections to the deal.

&quot;To say that the Belt and Road Initiative is a geo-strategic tool, in my view, this is a misinterpretation of the initiative,&quot; Zhang said.&nbsp;

&quot;All these concrete results are successful examples, they fully demonstrate that the Belt and Road Initiative has really responded the trend for win-win cooperation, and the shared aspiration for common development,&quot; Zhang declared.

The One Belt, One Road project has been President Xi's primary foreign policy initiative

China today said the One Belt, One Road initiative (OBOR) put forward by President Xi should not be seen as a "geo-strategic tool". The annual session of the Chinese Communist Party is currently underway in Beijing with a number of key decisions on the anvil, the most important among them could be the lifting of term limit for presidents which would pave the way for President's Xi to be at the helm for over a decade, possibly for life. The One Belt, One Road(OBOR) project has been President Xi's primary foreign policy initiative which seeks to create rail and road network from Asia to Europe in order boost trade, however, several countries including India have raised objections to the project which it says infringes upon its territorial sovereignty, an allegation which China denies. "Five years ago, President Xi Jinping put forward the Belt and Road Initiative. Over the past five years, thanks to joint efforts from all parties, this initiative is being turned into actions from a concept, and it is being translated into reality from a vision," said Zhang Yesui, the Chinese spokesman said. "Actually, a lot of progress has been made, for example, infrastructure connectivity building has yielded a lot of early harvests, policy communication is going deeper, cooperation mechanisms are being strengthened, and collaboration on the ground is unfolding across the board," Zhang added. China has already concluded large-scale deals in the Indian sub-continent with Pakistan, Nepal including the Maldives to ensure a continued thrust even as India has raised objections to the deal. "To say that the Belt and Road Initiative is a geo-strategic tool, in my view, this is a misinterpretation of the initiative," Zhang said. "All these concrete results are successful examples, they fully demonstrate that the Belt and Road Initiative has really responded the trend for win-win cooperation, and the shared aspiration for common development," Zhang declared.

OBOR project should not be seen as geo-strategic tool: China

&nbsp;A survey conducted by a <a href="http://www.wionews.com/videos/anti-pakistan-protests-erupt-across-pok-gilgit-baltistan-6192" target="_blank">Pakistan</a> based NGO has declared 36 glacial lakes in various valleys of Gilgit-Baltistan as dangerous.

The survey added&nbsp;that seven of the glacial lakes pose&nbsp;a major threat to the people.

Also read: <a href="http://www.wionews.com/world/members-of-baloch-and-sindhi-community-protest-against-pakistan-in-london-26418" target="_blank">Members of Baloch and Sindhi community protest against Pakistan in London</a>

After the survey experts attending a seminar in Islamabad also said that&nbsp;Gilgit-Baltistan is highly vulnerable to climate change.

&quot;The Khurdopin Glacier has touched the mountain which has formed a small lake. The lake is frozen at the moment, but from March onward, when the ice starts melting, the flow of water would be intense. We are not predicting immense damage, but footbridges and Shimshal Valley, which is very narrow in nature; the road there might get affected, said Dr. Nazeer Ahmed.

Also read: <a href="http://www.wionews.com/south-asia/opinion-why-pakistan-supports-kashmirs-aazadi-and-not-that-of-pok-26042" target="_blank">Opinion: Why Pakistan supports Kashmir&#39;s </a><a href="http://www.wionews.com/south-asia/opinion-why-pakistan-supports-kashmirs-aazadi-and-not-that-of-pok-26042" target="_blank">aazadi</a><a href="http://www.wionews.com/south-asia/opinion-why-pakistan-supports-kashmirs-aazadi-and-not-that-of-pok-26042" target="_blank"> and not that of PoK</a>

Officials from Gilgit Baltistan Disaster Management Authority, who were present during the seminar, are looking for measures&nbsp;to protect villagers during any disaster.

Gilgit-Baltistan, part of the Pakistan occupied Kashmir, is under the occupation of Pakistan since 1947.

Ever since its occupation, the region has been <a href="http://www.wionews.com/south-asia/us-expresses-concern-over-human-rights-situation-in-pakistan-controlled-kashmir-5456" target="_blank">misruled by Pakistan</a>.

The people from the region have been staging a frequent protest demanding basic rights for themselves and against the Pakistan government&#39;s oppression and <a href="http://www.wionews.com/south-asia/gilgit-baltistan-mounts-voice-against-illegal-taxation-25730" target="_blank">illegal taxation</a>.

The entrance of China in Gilgit Baltistan has added to the suffering of the local people.

The people also claim that the region&#39;s resources are not utilised for their use.&nbsp;

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36 glacial lakes in various valleys of <a href="https://twitter.com/hashtag/GilgitBaltistan?src=hash&amp;ref_src=twsrc%5Etfw">#GilgitBaltistan</a> declared dangerous due to melting, at least seven of them pose a threat to locals, says survey by a Pakistan based NGO. The region has been facing environmental issues since launch of China-Pakistan Economic Corridor (<a href="https://twitter.com/hashtag/CPEC?src=hash&amp;ref_src=twsrc%5Etfw">#CPEC</a>) <a href="https://t.co/gJHPYChJ67">pic.twitter.com/gJHPYChJ67</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/970131522786353154?ref_src=twsrc%5Etfw">March 4, 2018</a></blockquote>
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(With inputs from ANI)

 
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A survey conducted by a Pakistan based NGO has declared 36 glacial lakes in various valleys of Gilgit-Baltistan as dangerous. The survey added that seven of the glacial lakes pose a major threat to the people

A survey conducted by a Pakistan based NGO has declared 36 glacial lakes in various valleys of Gilgit-Baltistan as dangerous. The survey added that seven of the glacial lakes pose a major threat to the people. Also read: Members of Baloch and Sindhi community protest against Pakistan in London After the survey experts attending a seminar in Islamabad also said that Gilgit-Baltistan is highly vulnerable to climate change. "The Khurdopin Glacier has touched the mountain which has formed a small lake. The lake is frozen at the moment, but from March onward, when the ice starts melting, the flow of water would be intense. We are not predicting immense damage, but footbridges and Shimshal Valley, which is very narrow in nature; the road there might get affected, said Dr. Nazeer Ahmed. Also read: Opinion: Why Pakistan supports Kashmir's aazadi and not that of PoK Officials from Gilgit Baltistan Disaster Management Authority, who were present during the seminar, are looking for measures to protect villagers during any disaster. Gilgit-Baltistan, part of the Pakistan occupied Kashmir, is under the occupation of Pakistan since 1947. Ever since its occupation, the region has been misruled by Pakistan. The people from the region have been staging a frequent protest demanding basic rights for themselves and against the Pakistan government's oppression and illegal taxation. The entrance of China in Gilgit Baltistan has added to the suffering of the local people. The people also claim that the region's resources are not utilised for their use. 36 glacial lakes in various valleys of #GilgitBaltistan declared dangerous due to melting, at least seven of them pose a threat to locals, says survey by a Pakistan based NGO. The region has been facing environmental issues since launch of China-Pakistan Economic Corridor (#CPEC) pic.twitter.com/gJHPYChJ67 — ANI (@ANI) March 4, 2018 × (With inputs from ANI)

36 glacial lakes in Gilgit-Baltistan turns dangerous due to CPEC: Survey

A Pakistani parliamentarian has revealed that Chinese prisoners are working on development projects of the over USD 60 billion China Pakistan Economic Corridor (CPEC) in the country.

Member of the National Assembly Nawab Mohammad Yousuf Talpur of the Pakistan Peoples` Party (PPP) raised security concerns on this issue, and demanded better security arrangements.&quot;I have learnt that prisoners have been brought from Chinese jails and they are constructing roads.

They can be involved in crimes, so, there should be proper security arrangements,&quot; the Dawn quoted Yousuf, as saying.When Yousuf contacted the Ministry of Interior (MoI) to share his concerns, the ministry indirectly rejected his contention.

&quot;I contacted a concerned official, who confirmed that prisoners had been working in Pakistan. My doubt was strengthened by an ambiguous response from the Ministry of Interior which rather than rejecting my claim just said it was not in the knowledge of the ministry,&quot; he said.

However, Special Secretary (Interior) Rizwan Malik said Chinese workers were being given three-layer-level security.&quot;There is a separate security for Chinese nationals who have been working on CPEC projects. Separate arrangements have been made for those who have come for electricity projects.&quot; Malik said.

MNA Yousuf asserted that prisoners were engaged in development work across the globe, however, they found it strange that prisoners had been brought from China to Pakistan.

&quot;I assume that a secret or unannounced agreement has been made between the two countries because prisoners cannot be sent from one country to another without taking the host nation into confidence. Chinese constriction companies are using prisoners as labourers,&quot; he said.

Recently, several Chinese nationals have been arrested for their alleged involvement in the ATM skimming frauds in Pakistan.

Earlier in January, Pakistan police had arrested the Chinese nationals in two separate raids in Defence Housing Authority and Bahadurabad after they were caught red-handed withdrawing cash from the ATMs with forged cards.

Several blank ATM cards and millions of cash were also seized during the raids.Another Chinese national was also arrested by the police in Bahadurabad for ATM skimming fraud. The ATM hacking through installed skimmers, devices that steal ATM card data has been reported in the country.

According to an estimate, there are nearly 400,000 Chinese people living in Pakistan, with a large number of professionals involved in the China-Pakistan Economic Corridor (CPEC).

MNA Yousuf asserted that prisoners were engaged in development work across the globe, however, they found it strange that prisoners had been brought from China to Pakistan

A Pakistani parliamentarian has revealed that Chinese prisoners are working on development projects of the over USD 60 billion China Pakistan Economic Corridor (CPEC) in the country. Member of the National Assembly Nawab Mohammad Yousuf Talpur of the Pakistan Peoples` Party (PPP) raised security concerns on this issue, and demanded better security arrangements."I have learnt that prisoners have been brought from Chinese jails and they are constructing roads. They can be involved in crimes, so, there should be proper security arrangements," the Dawn quoted Yousuf, as saying.When Yousuf contacted the Ministry of Interior (MoI) to share his concerns, the ministry indirectly rejected his contention. "I contacted a concerned official, who confirmed that prisoners had been working in Pakistan. My doubt was strengthened by an ambiguous response from the Ministry of Interior which rather than rejecting my claim just said it was not in the knowledge of the ministry," he said. However, Special Secretary (Interior) Rizwan Malik said Chinese workers were being given three-layer-level security."There is a separate security for Chinese nationals who have been working on CPEC projects. Separate arrangements have been made for those who have come for electricity projects." Malik said. MNA Yousuf asserted that prisoners were engaged in development work across the globe, however, they found it strange that prisoners had been brought from China to Pakistan. "I assume that a secret or unannounced agreement has been made between the two countries because prisoners cannot be sent from one country to another without taking the host nation into confidence. Chinese constriction companies are using prisoners as labourers," he said. Recently, several Chinese nationals have been arrested for their alleged involvement in the ATM skimming frauds in Pakistan. Earlier in January, Pakistan police had arrested the Chinese nationals in two separate raids in Defence Housing Authority and Bahadurabad after they were caught red-handed withdrawing cash from the ATMs with forged cards. Several blank ATM cards and millions of cash were also seized during the raids.Another Chinese national was also arrested by the police in Bahadurabad for ATM skimming fraud. The ATM hacking through installed skimmers, devices that steal ATM card data has been reported in the country. According to an estimate, there are nearly 400,000 Chinese people living in Pakistan, with a large number of professionals involved in the China-Pakistan Economic Corridor (CPEC).

Chinese prisoners working on CPEC in Pakistan

Aligning with India&#39;s posture, a top American general today said China&#39;s Belt and Road Initiative could improve the Communist country&#39;s &quot;military posture&quot; while Gwadar Port has the potential increase its strategic presence in the Indian Ocean. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;

&quot;China is pursuing long-term, steady economic growth that bolsters its international influence and access to energy resources,&quot; General Joseph Votel, Commander of the US Central Command, told members of the Senate Foreign Relations Committee during a Congressional hearing. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;

&quot;Its Belt and Road Initiative (BRI), which includes the China Pakistan Economic Corridor (CPEC), could serve as a stabilising, profit-generating project in the region, but could also improve China&#39;s military posture,&quot; he said.

Votel said the collection of infrastructure projects provides China access to Gwadar Port in Pakistan which has the potential to increase its strategic presence in the Indian Ocean. Indian has been raising the same concern repeatedly.

&quot;China also recently established its first overseas military base adjacent to the Bab al Mandeb (BAM) in Djibouti. &nbsp;While Beijing claims both locations support peacekeeping and humanitarian operations, the new military base and port allow China to project forces more permanently within the region and influence strategically valuable trade waterways,&quot; he said.

China, Votel said, also seeks to increase its economic and diplomatic cooperation with Iran.

The lifting of &nbsp;UN sanctions under the Joint Comprehensive Plan of Action (JCPOA) opened the path for Iran to resume membership application to the Shanghai Cooperation Organisation, a Eurasian political, economic, and security organization. This, along with the existing BRI cooperation between the two nations, increases China&#39;s ties to Iran, he said.

China considers its relationship with the GCC states critical for its current economic needs, he added.

The Gulf States provide approximately one-third of China&#39;s oil, and Qatar is its single largest supplier of natural gas, Votel said.

The general said like Russia, China has sought to arbitrate some conflicts in the region, offering to mediate between Saudi Arabia and Iran. While China will continue to develop its relationships with nations in the Middle East, Beijing will likely maintain its stance of avoiding a major role in ongoing conflicts, he noted.

Votel said an increasingly assertive China is not only testing Russia&#39;s dominance in the economic and security arenas of Central Asia but also posing challenges to US influence.&nbsp;

&quot;China seeks to capitalise on regional concerns over what it perceives as waning US influence and support,&quot; he said. &nbsp;Toward this end, Beijing is building and strengthening trade, infrastructure, defense, and political relationships across the Middle East, Central and South Asia, he added.&nbsp;

The lifting of UN sanctions under the JCPOA opened the path for Iran to resume membership application to the Shanghai Cooperation Organisation, a Eurasian political, economic, and security organization

Aligning with India's posture, a top American general today said China's Belt and Road Initiative could improve the Communist country's "military posture" while Gwadar Port has the potential increase its strategic presence in the Indian Ocean. "China is pursuing long-term, steady economic growth that bolsters its international influence and access to energy resources," General Joseph Votel, Commander of the US Central Command, told members of the Senate Foreign Relations Committee during a Congressional hearing. "Its Belt and Road Initiative (BRI), which includes the China Pakistan Economic Corridor (CPEC), could serve as a stabilising, profit-generating project in the region, but could also improve China's military posture," he said. Votel said the collection of infrastructure projects provides China access to Gwadar Port in Pakistan which has the potential to increase its strategic presence in the Indian Ocean. Indian has been raising the same concern repeatedly. "China also recently established its first overseas military base adjacent to the Bab al Mandeb (BAM) in Djibouti. While Beijing claims both locations support peacekeeping and humanitarian operations, the new military base and port allow China to project forces more permanently within the region and influence strategically valuable trade waterways," he said. China, Votel said, also seeks to increase its economic and diplomatic cooperation with Iran. The lifting of UN sanctions under the Joint Comprehensive Plan of Action (JCPOA) opened the path for Iran to resume membership application to the Shanghai Cooperation Organisation, a Eurasian political, economic, and security organization. This, along with the existing BRI cooperation between the two nations, increases China's ties to Iran, he said. China considers its relationship with the GCC states critical for its current economic needs, he added. The Gulf States provide approximately one-third of China's oil, and Qatar is its single largest supplier of natural gas, Votel said. The general said like Russia, China has sought to arbitrate some conflicts in the region, offering to mediate between Saudi Arabia and Iran. While China will continue to develop its relationships with nations in the Middle East, Beijing will likely maintain its stance of avoiding a major role in ongoing conflicts, he noted. Votel said an increasingly assertive China is not only testing Russia's dominance in the economic and security arenas of Central Asia but also posing challenges to US influence. "China seeks to capitalise on regional concerns over what it perceives as waning US influence and support," he said. Toward this end, Beijing is building and strengthening trade, infrastructure, defense, and political relationships across the Middle East, Central and South Asia, he added.

BRI could improve Chinese military posture, says top US general

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