Skip to main content

Pakistan seeks $9 billion loan from China to fund CPEC projects

ANI | Updated: Nov 6, 2019, 12:49 IST

ISLAMABAD: 

 on Tuesday sought a nine billion dollar loan from China to finance road and infrastructure projects under the 

China-Pakistan Economic Corridor

 (CPEC).

At the conclusion of the ninth Joint Cooperation Committee (JCC) meeting of CPEC here, the two sides approved 

Gwadar

 Smart City Master Plan and signed two memoranda of understanding (MoUs) for cooperation in the field of health and trade, Dawn reported.

They also inaugurated the 392 km Multan-Sukkur Motorway completed with a funding worth (Pakistani Rupee) Rs. 294 billion from China.

The JCC was co-chaired by Pakistan's Planning Minister Makhdum Khusro Bakhtyar and China's National Development and Reform Commission (NDRC) Vice Chairman Ning Jizhe.

The Committee formed a joint group to formally engage in project financing arrangements on Main Railway Line (ML-1), said Bakhtyar, adding that the groundbreaking ceremony for the multi-billion dollar plan was targeted within the next six months.

"The recent visits of Prime Minister 

Imran Khan

 and his interaction with Chinese leadership has, in true sense, broadened and enhanced the scope of future cooperation in diverse fields of agriculture, industrial and socio-economic development," the minister said in his opening remarks.

He noted that Pakistan has established a CPEC Authority which will work as a one window for all CPEC related issues so that the government can fasten the pace of projects.

The meeting also ensured commitment to complete fencing of Pakistan's borders 

Iran

 and 

Afghanistan

. Bakhtyar said that the fencing should have been done 10 years ago but now it will be completed by 2020.

"Pakistan's security situation could not be 100pc in our hands until these borders remain porous," he stated.

On his part, Ning Jizhe said that both sides have reached important consensus over bilateral cooperation in all domains and pointed out the future direction of bilateral ties, Xinhua news agency reported.

He added that CPEC has achieved a series of remarkable achievements and have been ushered into an extending phase of high-quality development.

"The Chinese side will implement the consensus reached by the leaders of both sides and will enhance coordination, strengthen mutual trust so as to achieve more pragmatic results under CPEC and to forge a closer China-Pakistan community of shared future in the new era," the Chinese official was quoted as saying.



https://timesofindia.indiatimes.com/world/pakistan/pakistan-seeks-9-billion-loan-from-china-to-fund-cpec-projects/articleshow/71934908.cms

Comments

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

https://www.csis.org/analysis/rise-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…

China's Raise as a Maritime Power

China's Rise as a Maritime PowerOcean Policy from Mao Zedong to Xi JinpingTAKEDA Jun’ichiSenkaku IslandsApr 23, 2014 PDF Download1. IntroductionThe international community has been viewing China's recent moves relating to the seas as representing "maritime expansion," and the Chinese themselves have come to talk about making their country a maritime power. In the political report he delivered in the autumn of 2012 to the eighteenth National Congress of the Communist Party of China, which stands at the top of the country's power structure, General Secretary Hu Jintao declared, "We should enhance our capacity for exploiting marine resources, develop the marine economy, protect the marine ecological environment, resolutely safeguard China's maritime rights and interests, and build China into a maritime power."1 This was Hu's final report as the top leader of the CPC; after delivering it he stepped down from his posts as general secretary and chairm…