Skip to main content

CPEC has nothing to do with security cooperation: Yao

January 09, 2020

ISLAMABAD: China’s Ambassador to Pakistan Yao Jing said on Wednesday that China Pakistan Economic Corridor is purely a commercial project that had nothing to do with security cooperation.Both...

ISLAMABAD: China’s Ambassador to Pakistan Yao Jing said on Wednesday that China Pakistan Economic Corridor (CPEC) is purely a commercial project that had nothing to do with security cooperation.

Both the countries, he said, now started establishing joint ventures (JVs) under CPEC framework of industrial cooperation for boosting Pakistan’s exports.

“We are now focusing on four Special Economic Zones (SEZs) including Rashakai, Dahbiji, Faisalabad and IT related SEZ in the federal capital. The SEZ requires state of the art infrastructure and there is share of localisation of 80 percent so it takes much longer time to develop SEZ,” Ambassador Yao Jing said while addressing round table conference titled “Searching for Economic Security and Growth” organised by Institute of Policy Reforms (IPR) here at COMSTECH Auditorium on Wednesday.

He said that the second phase of Free Trade Agreement (FTA) would help Pakistan achieve its economic objectives. He said that he did not agree to this assertion that the first phase of FTA had wiped out Pakistan’s industry. He said that the number of Chinese labour working on different projects are decreasing. There are many projects, which are under construction with help of local partners, he maintained.

He said that both Pakistan and Chinese experts possessed different projections about Pakistan’s power sector requirements up to 2025 as surplus power exists but the Chinese companies working here in joint ventures complained that it required two years to get electricity.

He said that there were three new areas of future cooperation under the second phase of CPEC as industrial cooperation through joint venture were aimed at boosting exports as 11 joint ventures had already established in SEZ at Faisalabad. He said that agriculture sector cooperation on account of establishment of joint laboratories and technical centers are under way. He said that 15 vocational centres would be established.

He said that the Business Forum was also established in order to increase capacity of big manufacturers to boost Pakistan’s exports.

He said that there were 25 projects underway through CPEC mechanism and most of them would be completed in first half of the current year. He said that China wanted to convert Gwadar Port into commercially viable port. He said that the energy projects were completed and it was contributing 30 percent in national grid.

Moeed Yousaf, Minister of State and Special Assistant to PM on National Security and Strategic Policy Planning said on the occasion that his first assignment after joining the government was devising economic diplomatic strategy, as it required paradigm shift for achieving the desired results. The CPEC, he said, possessed important vision because Pakistan required sustained and long-term growth trajectory as it would help establish right kind of synergies to achieve the desired objectives.

Earlier, the IPR Chairman who is former minister Humayun Akhtar Khan made a presentation about reasons of perpetual economic crisis that always emerged when the country achieved higher growth trajectory so it again landed in IMF programme owing to eruption of balance of payment crisis. Humayun Akhtar Khan said that the higher GDP growth was key in case of East Asia and China for achieving prosperity as China excluded 700 million people from clutches of poverty. The economic growth, he said, linked to security and sovereignty of the country.

Since 1953, he said that Pakistan achieved average growth rate of 7 percent for only 12 years and the county achieved higher growth when external aid was received in abundance. Alarmingly, he said that the share of industry and agriculture had consistently fallen from 2000 to 2019.

He said that debt grew faster than GDP that’s why the country landed in IMF programme for 22 to 23 times. The fragile macroeconomic conditions coupled with low savings and investment rates resulted in re-surfacing of imbalances on economic front. He said that the savings and investment in percentage of GDP required to be increased from 15 to 25 percent in order to unlock the real potential of growth for Pakistan.

Yawar Ali, Chairman Pakistan Business Council (PBC) said that Pakistan needed charter of economy. He said that the government would have to slash subsidies by bringing improvement in State Owned Enterprises (SOEs). He said that the biggest problem of the country was increasing population that would be required to reduce on immediate basis.


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 …

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…

Guardians of the Belt and Road

Guardians of the Belt and RoadThe internationalization of China's private security companiesby Helena Legarda and Meia NouwensFollowing the build-up of infrastructure and investment projects along China’s extensive Belt and Road Initiative (BRI), private security companies from China are also increasingly going global – to protect Chinese assets and the growing number of Chinese nationals living and working in countries along the BRI, in sometimes unstable regions. Out of the 5,000 registered Chinese private security companies, 20 provide international services, employing 3,200 security personnel in countries like Iraq, Sudan and Pakistan.The impact of this newly developing Chinese activity abroad is analyzed in this MERICS China Monitor. Chinese private security companies’ international activities pose a challenge to European interests as they are often largely unregulated and their security staff are often inexperienced in dealing with serious conflict situations and combat. EU …