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

Pakistan&#39;s Foreign Minister Khawaja Muhammad Asif addressed the Senate Standing Committee on Finance earlier today.

Asif alluded to Pakistan-US ties and noted that the Islamabad government has been trying to balance its relationship with the Trump administration.&nbsp;

He also noted that balancing ties with America would not mean compromising on Pakistan&#39;s integrity.

Pakistan is better off without the US aid, he further added.&nbsp;

The foreign minister also noted the relationship between the two countries were normal before US President Donald Trump&#39;s repeated scathing remarks on Pakistan.&nbsp;

Asif also clarified that Pakistan cannot keep hosting Afghanistan refugees.&nbsp;

US President Donald Trump recently announced a cut in aid to Pakistan. The aid estimated around $ 2billion.

The move came in US&#39; bid to force Pakistan to sever support for terror groups.&nbsp;

Asif also clarified that Pakistan cannot keep hosting Afghanistan refugees

Pakistan's Foreign Minister Khawaja Muhammad Asif addressed the Senate Standing Committee on Finance earlier today. Asif alluded to Pakistan-US ties and noted that the Islamabad government has been trying to balance its relationship with the Trump administration. He also noted that balancing ties with America would not mean compromising on Pakistan's integrity. Pakistan is better off without the US aid, he further added. The foreign minister also noted the relationship between the two countries were normal before US President Donald Trump's repeated scathing remarks on Pakistan. Asif also clarified that Pakistan cannot keep hosting Afghanistan refugees. US President Donald Trump recently announced a cut in aid to Pakistan. The aid estimated around $ 2billion. The move came in US' bid to force Pakistan to sever support for terror groups.

Pakistan can do without US aid: Foreign Minister Khawaja Asif

The US blocked USD 300 million military aid to&nbsp;Islamabad as it failed to get a Congressional certification for&nbsp;&quot;satisfactory&quot; action against the dreaded Haqqani network, the Pentagon has&nbsp;said as it warned that it was in Pakistan&#39;s interest to take action against&nbsp;terrorists. 
 
The Haqqani Network has carried out a number of kidnappings and attacks&nbsp;against US interests in Afghanistan, the Afghan government and other civilian&nbsp;targets. 
 
The group is also blamed for several deadly attacks against Indian interests&nbsp;in Afghanistan including the 2008 bombing of the Indian mission in Kabul that&nbsp;killed 58 people. 
 
The Pentagon said it was in Pakistan&#39;s interest to take action against&nbsp;terrorists in &quot;as many ways as possible&quot;. 
 
&quot;We continue to have a close relationship with Pakistan with regard to&nbsp;terrorism and fighting terrorism. (But) It&#39;s obviously in Pakistan&#39;s own&nbsp;interest and the United States interest to combat terrorism in as many ways&nbsp;as possible,&quot; Pentagon Press Secretary Peter Cook told reporters yesterday. 
 
US Defence Secretary Ashton Carter did not give Congressional certification&nbsp;to Pakistan for satisfactory action against the Haqqani network this year,&nbsp;Cook said. 
 
In the absence of the certification, the Pentagon blocked disbursement of USD&nbsp;300 million to Pakistan under Coalition Support Fund, which is essentially&nbsp;reimbursement money for the expenses made by Pakistan Army in support of US&nbsp;operations in Afghanistan. 
 
&quot;With regard to that USD 300 million, there was a (June 30) deadline in terms&nbsp;of whether or not to transfer that money or to use that money in other ways,&nbsp;and it was determined that at this moment in time, it was best to reprogramme&nbsp;that money in other directions,&quot; Cook said. 
 
The Washington Post, which first reported about it, has described the&nbsp;withholding of the US military assistance to Pakistan as a &quot;potential blow&quot;&nbsp;to US-Pak ties. 
 
The Pentagon press secretary, however, said the US will continue to work&nbsp;&quot;closely with Pakistan and we&#39;ve seen significant efforts on the part of the&nbsp;Pakistanis.&quot; 
 
(PTI)

The group has carried out a number of attacks?against US and Indian interests in Afghanistan

The US blocked USD 300 million military aid to Islamabad as it failed to get a Congressional certification for "satisfactory" action against the dreaded Haqqani network, the Pentagon has said as it warned that it was in Pakistan's interest to take action against terrorists. The Haqqani Network has carried out a number of kidnappings and attacks against US interests in Afghanistan, the Afghan government and other civilian targets. The group is also blamed for several deadly attacks against Indian interests in Afghanistan including the 2008 bombing of the Indian mission in Kabul that killed 58 people. The Pentagon said it was in Pakistan's interest to take action against terrorists in "as many ways as possible". "We continue to have a close relationship with Pakistan with regard to terrorism and fighting terrorism. (But) It's obviously in Pakistan's own interest and the United States interest to combat terrorism in as many ways as possible," Pentagon Press Secretary Peter Cook told reporters yesterday. US Defence Secretary Ashton Carter did not give Congressional certification to Pakistan for satisfactory action against the Haqqani network this year, Cook said. In the absence of the certification, the Pentagon blocked disbursement of USD 300 million to Pakistan under Coalition Support Fund, which is essentially reimbursement money for the expenses made by Pakistan Army in support of US operations in Afghanistan. "With regard to that USD 300 million, there was a (June 30) deadline in terms of whether or not to transfer that money or to use that money in other ways, and it was determined that at this moment in time, it was best to reprogramme that money in other directions," Cook said. The Washington Post, which first reported about it, has described the withholding of the US military assistance to Pakistan as a "potential blow" to US-Pak ties. The Pentagon press secretary, however, said the US will continue to work "closely with Pakistan and we've seen significant efforts on the part of the Pakistanis." (PTI)

In Pak's interest to take action against Haqqani network: Pentagon

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

Pakistan can do without US aid: Foreign Minister Khawaja Asif

In Pak's interest to take action against Haqqani network: Pentagon