Skip to main content

India not biggest threat to CPEC, it's corruption in Pakistan: Expert

ANI | Last Updated: Friday, October 13, 2017 11:49 AM IST

Corruption, and not India, is the biggest threat for the multi-billion-dollar project, the China Pakistan Economic Corridor (CPEC), says an expert.

New York: Corruption, and not India, is the biggest threat for the multi-billion-dollar project, the China Pakistan Economic Corridor (CPEC), says an expert.

"The project is facing both delays and costs overruns, due to corruption on both sides of the partnership: on the China side, which plans and constructs the project, and on the Pakistani side, which oversees the execution of the project," said Panos Mourdoukoutas, a professor and the chair of the Department of Economics at LIU Post in New York, in an article, published in the Forbes.

Emphasising that the ambitious project on both ends of the partnership - China and Pakistan - looks like a 'sand castle', Mourdoukoutas said that the CPEC's delays and cost overruns have left Pakistan heavily indebted, heading to the door step of the International Monetary Fund (IMF), as it did back in 2001.

"Foreign investors have been already casting a wary eye on the situation, especially after the recent shift in U.S. policy towards Pakistan that roiled the country's markets," he said.

Mourdoukoutas, who teaches at the Columbia University, also noted that the cost overruns of the CPEC have been making Pakistan more indebted to China, at a time when the "country is living beyond its means and is already suffering from persistent current account deficits, government debts, and external debts in the face of declining foreign currency reserves."

He added that the situation would become worse as the "U.S. interest rates rise, and capital flows to emerging markets like Pakistan reverse course."

"Once again, projects like CPEC may bring Islamabad back to the doorsteps of IMF, an institution that doesn't have a reputation for being friendly to China's friends," he said.

Mourdoukoutas said that there was an ongoing concern that the CPEC, together with a string of other projects in the Indian Ocean, was a part of China's grand plan to encircle India.

"But so far, New Delhi has done very little to slow down the project, other than participating in joint exercises with America and Japan to counter the China-Pakistan alliance. The joint naval exercise in the Malabar in the Bay of Bengal last July was an example of that," he added.

The writer is also of the opinion that the CPEC is lifting Pakistan out from the bottom of the world competitive rankings, but that progress may not be sustainable.

"That's why Beijing and New Delhi announced the creation of a 'transparency' commission last year to address these issues. The problem is that such commissions rarely solve corruption - especially when it comes to projects, which are constructed and executed by the governments of countries that suffer from corruption," he further said.

The CPEC project comprises a network of railways, roads and pipelines that would connect Pakistan's port city of Gwadar in the province of Balochistan, with the Chinese city of Kashgar in landlocked Xinjiang Uyghur Autonomous Region (XUAR).

The human rights activists have time and again spoken about and highlighted growing atrocities in Pakistan and particularly on the indigenous people of Balochistan as a result of the CPEC.

Pakistan Prime Minister Shahid Khaqan Abbasi recently alleged that India was unleashing a baseless propaganda against the CPEC


Popular posts from this blog

SSG Commando Muddassir Iqbal of Pakistan Army

“ Commando Muddassir Iqbal was part of the team who conducted Army Public School operation on 16 December 2014. In this video he reveals that he along with other commandos was ordered to kill the innocent children inside school, when asked why should they kill children after killing all the terrorist he was told that it would be a chance to defame Taliban and get nation on the side. He and all other commandos killed children and later Taliban was blamed.
Muddassir Iqbal has deserted the military and now he is  with mujahedeen somewhere in AF PAK border area”
For authenticity of  this tape journalists can easy reach to his home town to interview his family members or   ISPR as he reveals his army service number”
Asalam o Alaikum: My name is Muddassir Iqbal. My father’s name is Naimat Ali. I belong to Sialkot divison (Punjab province), my village is Shamsher Poor and district, tehsil and post office  Narowal. Unfortunately I was working in Pakistan army. I feel embarrassed to tell you …

The Rise of China-Europe Railways

The Rise of China-Europe RailwaysMarch 6, 2018The Dawn of a New Commercial Era?For over two millennia, technology and politics have shaped trade across the Eurasian supercontinent. The compass and domesticated camels helped the “silk routes” emerge between 200 and 400 CE, and peaceful interactions between the Han and Hellenic empires allowed overland trade to flourish. A major shift occurred in the late fifteenth century, when the invention of large ocean-going vessels and new navigation methods made maritime trade more competitive. Mercantilism and competition among Europe’s colonial powers helped pull commerce to the coastlines. Since then, commerce between Asia and Europe has traveled primarily by sea.1Against this historical backdrop, new railway services between China and Europe have emerged rapidly. Just 10 years ago, regular direct freight services from China to Europe did not exist.2 Today, they connect roughly 35 Chinese…

CPEC Jobs in Pakistan, salary details

JOBS...نوکریاں چائنہ کمپنی میںPlease help the deserving persons...Salary:Salary package in China–Pakistan Economic Corridor (CPEC) in these 300,000 jobs shall be on daily wages. The details of the daily wages are as follows;Welder: Rs. 1,700 dailyHeavy Duty Driver: Rs. 1,700 dailyMason: Rs. 1,500 dailyHelper: Rs. 850 dailyElectrician: Rs. 1,700 dailySurveyor: Rs. 2,500 dailySecurity Guard: Rs. 1,600 dailyBulldozer operator: Rs. 2,200 dailyConcrete mixer machine operator: Rs. 2,000 dailyRoller operator: Rs. 2,000 dailySteel fixer: Rs. 2,200 dailyIron Shuttering fixer: Rs. 1,800 dailyAccount clerk: Rs. 2,200 dailyCarpenter: Rs. 1,700 dailyLight duty driver: Rs. 1,700 dailyLabour: Rs. 900 dailyPara Engine mechanic: Rs. 1,700 dailyPipe fitter: Rs. 1,700 dailyStorekeeper: Rs. 1,700 dailyOffice boy: Rs. 1,200 dailyExcavator operator: Rs. 2,200 dailyShovel operator: Rs. 2,200 dailyComputer operator: Rs. 2,200 dailySecurity Supervisor: Rs. 2,200 dailyCook for Chinese food: Rs. 2,000 dailyCook…