Posts

Financial liabilities of govt for CPEC projects only $5.8b

ISLAMABAD   –   Out of total $28 billion so far utilised for CPEC projects, the financial liabilities of government of Pakistan are only to the tune of $5.8 billion comprising of low interest loans and grants in infrastructure projects spread over 20 to 25 years payback period.

Ministry of Planning, Development & Reforms clarified a news article carried by some sections of international media titled “IMF Won’t Stop China From Turning Pakistan Into The Next Sri Lanka”, published on 4th July, 2019. The article is based on incorrect data and distorted facts.

The spokesperson of CPEC, Hassan Daud Butt, said that the writer needs to know that China Pakistan Economic Corridor (CPEC) is a flagship project of the Belt and Road Initiative. CPEC financing comprises of Government to Government loans, Private investment and grants.

According the spokesman, to date, 22 projects worth $28 billion are in various stages of implementation, of which $22 billion worth are private sector energy projects.

The government of Pakistan’s financial liability is only to the tune of $5.8 billion comprising of low interest loans and grants in infrastructure projects spread over 20 to 25 years payback period, he added.

The energy projects are being executed purely in the Independent Power Producers (IPPs) mode and finances are mainly taken by the private companies against their own balance sheets. Therefore, debt would be borne by the investors instead of any obligation on part of the government of Pakistan. Therefore; the impression of debt burden falling on the government of Pakistan is based on incorrect analysis.

Similarly, stating that “CPEC will add to corruption” clearly depicts the writer is not aware that the second phase of CPEC is focused on industrial cooperation (B 2 B JVs), socio economic development and agriculture cooperation, directed towards poverty alleviation of less developed areas of Pakistan based on pragmatic planning and due diligence on both sides.

Comparing cooperation with China through CPEC, with any other country, is unrealistic as it has facilitated in overcoming crucial energy, transport infrastructure and supply chain bottlenecks.

Under CPEC, development of Gwadar (mostly through grant/interest free loans) projects would ensure strengthening of maritime sector. The development of Gwadar port project is on BOT mode and cannot be compared with any port project being developed on foreign funding/loans. Gwadar continues as high priority and is being developed as a standalone project as well as a transshipment hub based on blue economy principles.

All in all, CPEC is acting as a stimulus to the economic growth of Pakistan. The false narrative of a “debt trap” is not based on the ground realities, the spokesperson concluded.

Source: The Nation

Date: 6 /7/2019

/0 Comments/by
,

SEZ under CPEC may be inaugurated by month-end

The inaugural session of Rashakai Special Economic Zone, under the China-Pakistan Economic Corridor (CPEC) is expected to be held by the end of July, sources in the Board of Investment (BoI) said. An investment worth $138 million is expected from China in this industrial zone and it is among three SEZs which will be developed within next two years.

The BoI will focus on the development of three SEZs – Rashakai Economic Zone, M-1, Nowshera, China Special Economic Zone Dhabeji and Allama Iqbal Industrial City (M3), Faisalabad in the next two years. China agreed to facilitate operationalisation of at least one SEZ under CPEC as Pakistan is yet to show progress on the remaining zones. Among the Memoranda of Understanding (MoUs)/agreements signed between Pakistan and China on the conclusion of Prime Minister Imran Khan’s second visit to China in April, joint venture and license agreements were also signed between Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC) and China Road and Bridge Corporation (CRBC) for cooperation in operationalising Rashakai SEZ in Khyber Pakhtunkhwa. The two are engaged in the final stages of finalizing and signing the concession agreement, following which the ground breaking of the project will take place. While the concession agreement has been finalized however utility services to the zone are yet to be provided.

Pakistan had requested China’s cooperation in developing at least one SEZ. Rashakai Industrial Zone in Nowshera would consist of 1,000 acres of land and focus on fruit, food packaging and textile stitching/knitting. There is a requirement of 209 MW of electricity and 30 mmcfd gas for this SEZ. The first SEZ at Rashakai will be inaugurated during the current month, where 20 factories would be set up initially.

Dhabeji Industrial Zone also consists of 1,000 acres of land and would target foundries, steel, building material, petrochemical, automotive and allied, light engineering, textile and garments etc. It requires 200MW electricity and 15 mmcfd gas. The sources said that more than 790MW electricity and 200 million cubic feet per day (mmcfd) gas will be required for nine SEZs envisaged under CPEC.

The BoI has prepared a comprehensive plan for fast-track development of notified seven SEZs in the next two years. The Board is the Secretariat of CPEC identified nine SEZs but has notified only seven which have been facing land acquisition, provision of utility services, security and other infrastructure issues.

The Board would take the proposed plan with a time line for revival of these SEZs to the committee of approvals to be headed by the recently appointed Chairman Board of Investment Zubair Gilani.

The nine SEZs include: (1) Rashakai Comprehensive SEZ, Nowshera, KP, (2) Allama Iqbal Industrial City, Faisalabad, (3) China Special Economic Zone, Dhabejji Thatta, (4) IT Park, Islamabad, (5) Bostan Industrial Zone, Balochistan, (6) SEZ Port Qasim Karachi, (7) Moondash SEZ, Gilgit-Baltistan, (8) Mirpur SEZ, Azad Jammu and Kashmir and (9) Momand Marbel City, TATA.

The government has proposed additional incentives for industrial zones, for example one window operation by Special Economic Zone Authority (SEZA), bulk purchase of basic utilities and renting out of sheds for industrial use, etc, and all SEZs in Pakistan will be open for investors not only from China but from all over the world.

Source: Business Recorder

Date: 7th July 2019

Author: Wasim Iqbal

/0 Comments/by
,

CPEC — poverty alleviation

SINCE the inception of China-Pakistan Economic Corridor (CPEC), the flagship project under the Belt & Road (B&R) initiative and a lot of work have already been done. Out of 22 big and small projects, 11 have been completed while work on the rest is underway. Although CPEC and B&R is the Chinese initiative, yet aims at collective prosperity of the entire region. The Free Trade Agreement (FTA) Phase II between Pakistan and China has already been signed besides other important agreements related to CPEC. In spite of a lot of criticism by Opposition both the countries are much better positioned and the partnership between the two is growing. Obviously lot of job opportunities are expected to generate due to FTA but need to be optimal utilization of job opportunities from these generated through CPEC and it allied projects. For maximum utilization, it is necessary to enhance the skill and productivity of Pakistani labour force.

Recently three small steel mills have been taken over by the Chinese and it is strange to note that all employees are replaced with Chinese nationals except required to deal with the public. It is a point of concern, it needs careful analysis to find out the reasons. Is it due to the non-availability of the skilled workforce or any other reason? If so, then our concerned ministry/departments should take immediate action to enhance the skills of labour up to the level required and leaving no excuse for Chinese and others to bring manpower from outside. I hope that Pakistani concerned ministry/department would have done homework on what types of job opportunities will be generated as a result of CPEC and its allied projects. Pakistan needs to provide employment to the youth and other unemployed to restrict and eliminate poverty, for that employment is the major instrument. Pakistan’s concerned authorities must be vigilant and should have a comprehensive follow-up program to avail maximum benefit from these projects otherwise the already poverty alleviation program like Ehsas will lose its effectiveness.

Under the CPEC’s industrial cooperation, out of nine Special Economic Zones (SEZ) the work on Rashakai has been initiated and 20 factories would be set up initially. According to original plan employment in the SEZs would be given to the local people and the latest technology would be transferred from China to Pakistan. Are local person are being trained to take over the jobs or again manpower will be imported from outside with the excuse of not having the required skill? There are six areas in the social sector, including education, health, agriculture, water & irrigation, and poverty alleviation in which around 26 new projects will be initiated in Pakistan. Under the social sector cooperation of CPEC two model villages would be built in Pakistan under CPEC to uplift the living standard of low-income segments of the society but that need sustainability in the income of people which can be ensured by providing employment.

A comprehensive transportation package is also prepared. The economic corridor is considered central to China–Pakistan relations and will run about 2700 km from Gwadar to Kashgar. CPEC is intended to rapidly modernize Pakistani infrastructure and strengthen its economy by the construction of modern transportation networks, numerous energy projects, and special economic zones. A vast network of highways and railways are to be built under the aegis of CPEC that will span the length and breadth of Pakistan. Modern transportation networks built under CPEC will link seaports in Gwadar and Karachi with northern Pakistan, as well as points further north in western China and Central Asia. A 1,100-kilometre long motorway will be built between the cities of Karachi and Lahore as part of CPEC, while the Karakoram Highway between Rawalpindi and the Chinese border will be completely reconstructed and overhauled.

The Karachi–Peshawar main railway line will also be upgraded to allow for train travel at up to 160 km per hour. Pakistan’s railway network will also be extended to eventually connect to China’s Southern Xinjiang Railway in Kashgar. Over $33 billion worth of energy infrastructure are to be constructed by private consortia to help alleviate Pakistan’s chronic energy shortage, which regularly amount to over 4,500MW. A network of pipelines to transport liquefied natural gas and oil will also be laid as part of the project, including a $2.5 billion pipeline between Gwadar and Nawabshah to eventually transport gas from Iran. Heavy construction activities are expected in result of these interventions and local trained workforce in these sectors would be largely required. It is time to work out the estimated required manpower and skill levels for these projects.

It is pertinent to mention that a Memorandum of Understanding (MoU) has also been signed on the occasion between All Pakistan China Entrepreneurs Association (APCEA) and National Vocational & Technical Training Commission (NAVTTC) to provide skilled workforce to Chinese companies engaged in various projects in Pakistan. The Chairman of NAVTTC assured to provide all the required skilled labour for their projects. But it needs hard work and to associate the Chinese professional to ensure the skill level required to them otherwise I have doubt the repetition of Steel Mills instance.

In the South Asian region, Pakistan’s position in trained manpower is fairly weak. Development of Pakistan’s enormous human potential requires a shift in national priorities, and a greater share of the country’s financial resources to the technical education and vocational and technical training. Pakistan must create conditions and environment necessary for creativity and innovation essential for moving into and being competitive in the knowledge-based industries, which will provide the highest value-addition for the economy. This will require training of various technical skills in Pakistan preferably priority to require for CPEC projects. The formal institutions produce a very small proportion of the total increments to the skilled workforce and not necessarily in accordance with the demand and of the requisite quality. Hence a high tech Vocational Training Institutes keeping in view the future requirements under CPEC needs to be established.

Source: Pakistan Observer

/0 Comments/by

PM for further coordination with China in second phase of CPEC

Minister Imran Khan Thursday said that the efforts are being made to further streamline and improve coordination with China at all levels, especially when the China-Pakistan Economic Corridor (CPEC) project has entered its second phase.

In a meeting with Zhao Baige, vice chair of the 12th NPC Foreign Affairs Committee, chair of the Advisory Committee of Belt & Road Initiative International Think Tank of Chinese Academy of Social Sciences, who called on him at the PM Office, the prime minister said in its second phase, the critical areas such as agriculture and socio-economic development have also been included in the CPEC, said a PM Office statement. Zhao, also the Chair of Advisory Committee of CASS-RDI, was accompanied by Fang Cal, vice chairman and member of the Party Leadership Group of the Chinese Academy of Social Sciences, chairman of China Overseas Ports Holding Company Ltd, Bao Zhong Zhang, chairman Huangshan Duowei Biology Co Ltd, Guang Hui Chen, chairman Wuhan Landing Medical Hi-Tech Co Ltd, Xiao Rong Sun, president Chenjiancheng TVSKY, Jiancheng Chen, chairman Pakistan Chinese Enterprises Services Co Ltd, Zi Hai Wang and Director RDI Secretariat Wen Qing Xu.

The prime minister welcomed the delegation and said that it is a matter of great satisfaction to note that all-weather and time-tested Pakistan-China friendship is transforming into a robust economic partnership. He added that Pakistan wants to learn from Chinese experience and expertise in different sectors. He said a special cell is being established at the Prime Minister’s Office to ensure seamless coordination between businesses of public and private sectors. Zhao, in her remarks, said that China will continue extending all possible cooperation to Pakistan in areas such as agriculture, health, housing, and socio-economic development.
Source: Daily Times
Date: 21/6/2019
/0 Comments/by

China stands ready to promote cooperation on high-quality BRI

China said Wednesday that it is willing to work with partners to promote international cooperation on high-quality development of the Belt and Road Initiative (BRI) to constantly score new achievements.

Lu Kang, the spokesperson for the Chinese Ministry of Foreign Affairs, made the remarks at a press conference in response to a World Bank report regarding the BRI.

The World Bank on Tuesday released the report titled “Belt and Road Economics: Opportunities and Risks of Transport Corridors,” saying the “BRI offers opportunities for countries to improve their infrastructure, to increase trade and connectivity among themselves and the wider world, and thus to increase growth and reduce poverty.”

The report also said that the BRI projects could contribute to lifting 32 million people out of moderate poverty.

“China has taken note of the report,” said Lu, adding that since it was first proposed six years ago, the BRI has yielded abundant achievements and has become a broadly participated platform for international cooperation and a widely welcomed international public goods.

Lu said the BRI’s vision and cooperation areas are highly compatible with most developing countries’ development strategies and have made positive contributions to these countries’ economic development and improvement of their people’s livelihood.

The joint construction of the BRI has helped unlock the bottlenecks in infrastructure construction in many regions along the Belt and Road, boosted connectivity and contributed significantly to global trade facilitation and economic growth, said Lu.

“We think the World Bank’s comments on this are objective,” Lu said.

The report also mentioned that policy reforms are needed to increase transparency, improve debt sustainability, and mitigate environmental, social and corruption risks.

Lu said during the Second Belt and Road Forum for International Cooperation, various parties reached consensus on the concept of high-quality BRI development proposed by the Chinese side.

Lu said China stands ready to work with cooperation partners to jointly build the BRI, upholding the principles of extensive consultation, joint contribution and shared benefits as well as openness, inclusiveness and transparency, implementing the open, green and clean approaches, and striving for achieving the goals of high-standard, livelihood-improving and sustainable development.

China is willing to work with cooperation partners to implement the outcomes of the forum, actively build global connectivity partnership and promote international cooperation on high-quality BRI development to constantly score new achievements.

“In this sense, this is consistent with relevant views and suggestions of the World Bank report,” Lu said, adding he believed that relevant departments will conduct serious research on the suggestions given by the World Bank report.

Source: China.org.cn

Date: 20/6/2019

/0 Comments/by
,

Why CPEC Could Change Pakistan, China And Asia Forever

The energy crisis in Pakistan is growing, and in spite of efforts by the government it does not seem to solvable. However, thanks to the intervention of China and the formation of CPEC, the country may see some relief in the coming years.

CPEC Defined

CPEC stands for the China Pakistan Economic Corridor, and it is just one link in a chain that the Chinese are forming in the Asian region. The goal of the joint effort is to improve Pakistan’s infrastructure with updated roads, highways, and bridges. It also includes investment into energy projects, which could help solve the problems that Pakistan faces in that area. The local media and politicians praised Xi Jinping when he announced that the Chinese would invest $46 billion into the project.

China vs Pakistan: What are the risks?

The Chinese do not invest in a country unless there is a guaranteed return on that investment. Profit and risk are carefully calculated by experts before a proposal is drawn up, and there is rarely an investment made that does not heavily favor the Chinese government. This is one of the driving factors in the ongoing US vs China trade war, and is one reason Donald Trump refuses to give in on his demands to Beijing. Pakistan will have to consider very carefully what accepting CPEC could mean in the future.

According to the Organization for World Peace, investments from China have not always worked out in favor of countries they have invested in. Sri Lanka was unable to make re-payments on Chinese investments in the country. In retaliation, the Chinese government seized control of Hambantota Port for a period of 99 years. Pakistan will need to consider possibilities like this, as CPEC becomes part of their plan to move forward.

Pakistan’s Obstacles

Pakistan is a country in distress at the least, and in some people’s opinion it is a failed state altogether. There is conflict and division in various regions of the country, as well as growing tension with India. All of this coupled with an increasing energy crisis could be the fuel for a fire that can’t be easily put out. The country is desperately in need of help to sort out its mounting problems, and it is possible that CPEC and China could be the answer they have been looking for. Overcoming the hurdles to make CPEC profitable for both sides will be difficult.

Moving Forward

Pakistan welcomed the investment from China, as a means of eliminating the strain on their nation. However, they must treat China as an equal partner in the endeavor, or they may soon find themselves in even worse straits than they are now. Caution is a must as CPEC is implemented, in order to protect the Pakistani’s from inadvertently giving up territory to a foreign government. Already some issues have been reported with projects, as Dawn noted that Pakistani contractors and companies were denied access to the jobs. Instead, equipment and manpower was sourced from China, leaving the Pakistani’s outside the inner circle. The Diplomat reports that one official complained “labor is also coming from China. There are no restrictions on Chinese firms to involve Pakistani contractors and use local equipment and labor as they take the lion’s share of infrastructure projects.”

CPEC – Is it the solution?

If CPEC proceeds as Pakistan intended for it to, it could indeed be the salvation the people have been hoping for. Already 17 energy projects have been finalized, and 4 more are being considered. They include plans that involve coal, solar, hydropower, and natural gas to help improve the country’s energy situation. The addition of better roads to connect trade cities will also aid Pakistan’s ability to generate income. Additionally, China intends to connect the port of Gwadar in Pakistan’s Balochistan province with its own western province of Xinjiang via the Indian Ocean. This will help facilitate trade between the two nations.

The energy crisis in Pakistan is acute, with power outages lasting from 6-8 hours at a time and occurring all across the country. These outages cost the nation more than $18 billion in 2015 alone, and left the country crippled without power. The problem arises due to the outdated design of Pakistan’s power plants, which fall short of the necessary output to power the homes and businesses. On average they miss the mark by more than 7,000MW, leaving people to depend on diesel generators to provide power. CPEC could change all of that with the energy projects proposed by China. The plan calls for $35 billion to be invested in updating the infrastructure surrounding Pakistan’s power supply.

China Has The Power

China has proven that it has the technology to help Pakistan pull through its energy crisis. The country has managed to keep its own population supplied with power, and maintain economic growth and population increase. Most of their power supply is provided through coal, in spite of their commitment to finding clean energy sources. CPEC could help improve the situation in Pakistan. However, if the country is intent on clean energy as its main resource, then following China’s lead may not be the right choice. If CPEC is properly implemented, it could change the entire region forever. It would also prove that working together for the common good is profitable, and could encourage other countries to do the same. For now, we will have to wait and see how it turns out.

Source: Value Walk

Author: Joshua Rarrick

Date: 19/6/2019

/0 Comments/by
,

CPEC to turn AJK into Pakistan’s ‘economic engine’: Masood

MUZAFFARABAD: 

Azad Jammu and Kashmir (AJK) President Sardar Masood Khan has stressed upon the need to chalk out a comprehensive strategy to turn the liberated territory into ‘economic engine’ of Pakistan through China-Pakistan Economic Corridor (CPEC) related projects.

He expressed these views while speaking as chief guest at a conference titled “Special Economic Zone – Future Prospects and Potential”, organised by CPEC Center of Azad Jammu and Kashmir University in collaboration with Institute of Strategic Studies in Islamabad on Tuesday.

The conference was also addressed by AJK University Vice-Chancellor Professor Dr Kalim Abbasi and Director (Strategy) Special Economic Zones Hassan N Ansari among others.

President Masood said that one of the four mega CPEC projects have been completed in AJK while initial planning for two more projects has been worked out. Similarly, work on Mansehra-Muzaffarabad-Mangla-Mirpur highway would start from the next financial year, he added.

He urged universities, academia and media of the country to effectively counter-negate campaign against the CPEC initiative besides highlighting its socio-economic benefits.

Under the CPEC, nine special economic zones would be established across the country, including one in Mirpur, Azad Kashmir for which 1,185 acres of land has already been identified, said the president, adding that 571 acres of land would be acquired in the first phase and 614 acres in the second.

Sardar Masood Khan said that feasibility study including environmental study, topographic survey and other technical formalities for the Mirpur special economic zone have already been completed and handed over to the Chinese officials. Special incentives have been offered by the AJK government for investment in Mirpur economic zone, he added.

“These incentives include tax-free import of machinery and other equipment, construction of infrastructure, and permission to prospective investors to generate their own electricity to run the industries at local level.”

President Masood said the government has set up a board of investment (BOI) to attract investment by local and foreign investors as well as overseas Kashmiris, and work is in progress on a comprehensive policy to protect capital of the investors and to restore their confidence.

While enumerating challenges and difficulties, the AJK president said that planning is under way to ensure an uninterrupted supply of natural and electricity to the economic zone, setting up a dry port, introduction of e-filing system and establishing a railway link between Dina, Jhelum and Mirpur.

He said that the government was trying to ensure speedy development works in special economic zones, resolve environmental issues on priority basis, and to take on board the local industrialists and small business.

Speaking on the occasion, Prof Dr Abbasi shed light on efforts of CPEC center for the projection of economic corridor project. He also paid tributes to President Sardar Masood Khan for effectively highlighting the Kashmir issue at the OIC summit in Makkah.

A memorandum of understanding (MoU) was also signed between China-Pakistan Study Center of ISSI and the Azad Jammu and Kashmir University, under which both the institutions will cooperate with each other in the field of education and research.

Source: Express Tribune

Date: 19/6/2019

/0 Comments/by

CPEC remains top priority, Imran tells Xi

ISLAMABAD  –   Prime Minister Imran Khan Friday met President of China Xi Jinping wherein both the countries reaffirmed their all-weather strategic cooperative partnership.

The meeting took place in Bishkek, the Kyrgyz capital, on the sidelines of the meeting of the Council of Heads of State of Shanghai Cooperation Organization (SCO), a PM Office statement said.

During the “extremely cordial meeting,” the two leaders discussed the entire gamut of bilateral relations between “iron brothers” China and Pakistan including CPEC.

The prime minister said that CPEC remained the highest priority of the government. He thanked China for its steadfast support on all issues of Pakistan’s core interest and expressed satisfaction at the close coordination between the two sides on multilateral issues.

The prime minister reiterated Pakistan’s firm support to China on all issues of its core interest.

President Xi Jinping acknowledged Pakistan’s efforts to counter terrorism and promote regional stability.

The two leaders discussed the regional situation and agreed to enhance coordination to build Pakistan China Community of Shared Destiny in the new era.

Both sides agreed that the visit of Vice President Wang Qishan had been a milestone. They expressed satisfaction that Pakistan and China had identical views on various international and regional issues.

The two leaders agreed to closely coordinate on challenges emerging from the changing global dynamics and affirmed that the time-tested Pakistan-China relationship would continue to move from strength to strength.

A statement issued by Chinese foreign ministry in Beijing after the meeting between President Xi and Prime Minister Khan in Bishkek said “Xi Jinping pointed out that in the past eight months, I met with the Prime Minister three times. This fully reflects the high level of China-Pakistan all-weather strategic partnership.”

The Chinese president also remarked that under the changing the international and regional situation, China and Pakistan should carry out closer coordination and cooperation to build a closer community of shared destiny.

Xi Jinping emphasized that both the countries must maintain, consolidate and develop China-Pakistan all-weather relations and all-round cooperation.

The Chinese president maintained that the two sides should thoroughly communicate on issues of common concern and jointly safeguard international and regional security and stability. “We must expand and enrich the construction of the China-Pakistan Economic Corridor (CPEC) with new focus on industrial parks, agriculture and people’s livelihood,” he added.

Xi said it was necessary to seize the opportunity of the escalation of the China-Pakistan Free Trade Agreement and vigorously expand bilateral trade. China was willing to provide assistance to Pakistan within its ability.

The Chinese president said his country supported Pakistan in carrying out the national anti-terrorism action plan and would help Pakistan strengthen its counter-terrorism capacity building, adding, “ China supports Pakistan and India to improve relations.”

Foreign Minister Shah Mehmood Qureshi said Prime Minister Imran Khan and Russian President Viladimir Putin in a brief meeting on sidelines of the SCO Summit discussed Afghanistan issue, situation in Middle East and Iran, and took the Russian President into confidence on Kashmir’s situation.

Talking to media persons, he said the Russian President appreciated Pakistan’s role and efforts for promoting regional peace and security. He said different changes were taking place in the world but unfortunately global uncertainty was increasing. He said the SCO forum provided an opportunity for peace, stability and regional connectivity.

Source: The Nation

Date: June 15, 2019

/0 Comments/by

CPEC projects going on smoothly: Lijian

ISLAMABAD – Deputy Head of Mission of Chinese Embassy Zhao Lijian has dis­pelled the impression that the CPEC project are de­layed by any manner.

In a statement issued here on Monday, he said, “Recently there’s a rumor that CPEC is allowing down. I would like to clarify that CPEC projects construction is going on smoothly.”

The CPEC has entered the second stage, featuring in­dustrial cooperation, social sector development and the third party participation.

Similarly, he said, special economic zones are being worked out. As many as 27 social sector projects have been approved while the third party is most welcome to participate in SEZs.

Source: The Nation

Date: 11th June, 2019

/0 Comments/by

China, Pakistan strive to build closer community of shared future in new era: envoy

China and Pakistan will join hands in building a closer community of shared future in the new era against the backdrop of changing international landscapes, Chinese Ambassador Yao Jing said.

“The Closer China-Pakistan Community of Shared Future in the New Era is a concrete measure taken by leaders of the two countries as per the concept of building a new type of international relations and a community of a shared future for all mankind,” Yao told Xinhua in an interview.

A China-Pakistan joint statement in this regard was released in November last year when Pakistani Prime Minister Imran Khan made his first visit to China.

The closer community of shared future in the new era is based on mutual trust, friendship and amity, as well as shared interests and political consensus reached between the two countries and two peoples on the Belt and Road Initiative and the China-Pakistan Economic Corridor (CPEC), the ambassador said.

CPEC, a major pilot project of the China-proposed Silk Road Economic Belt and the 21st Century Maritime Silk Road, is connecting the Gwadar port in southwestern Pakistan with Kashgar in west China’s Xinjiang Uyghur Autonomous Region.

CPEC has brought about drastic changes to Pakistan’s socio-economic development over the past five years. During Prime Minister Khan’s another visit to China in April, the two countries signed a deal on the first industrial park and future industrial cooperation.

Under a Memorandum of Understanding inked between China and Pakistan to improve people’s livelihood, the two neighbors signed 27 projects on agriculture, education, healthcare, water resources, vocational training and poverty alleviation, Yao said.

“By meeting Pakistani people’s needs, the China-Pakistan cooperation will bring more tangible benefits to Pakistanis,” he said. As part of the international cooperation under the Belt and Road Initiative, CPEC should be instrumental to regional cooperation, interconnectivity and common development, the Chinese envoy pointed out.

A third party will be invited to participate in the next phase development of CPEC, he added. The first meeting of the CPEC International Cooperation Coordination Working Group was held in Beijing in April to build CPEC as a platform for regional cooperation, development, and prosperity.

Fostering people-to-people’s bonds always remained as a priority of the Belt and Road cooperation between China and Pakistan, according to Yao. “The China-donated Faqeer Primary School in Gwadar has become one of the best local schools, where students have increased to nearly 500 from 150 over the past five years,” he said.

“China also helped build a medical center in Gwadar which has provided health services for the local people,” the ambassador added, noting that vocational training institutes were set up in Quetta and Lahore to help address youth employment in Pakistan.

In recent years, civic groups, training schools, and local institutions across the country have been seeking exchanges and cooperation with China in education, culture, and sports, Yao said.

“The Belt and Road Initiative has yielded such appealing results that the Pakistani people have been getting increasingly enthusiastic about participating in the Chinese projects and agreeing with the Chinese concepts,” he added.

Source: The Nation

Date: 25th May, 2019

/0 Comments/by