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Showing posts from November 18, 2020

RCCI CPEC-CARs business conference in Gwadar ends on a high note

A three-day business conference on CPEC Central Asia organized by Rawalpindi Chamber of Commerce and Industry (RCCI) in Gwadar ends on a high note. The moot was organized to explore trade and investment opportunities in Gwadar and to cement trade ties and linkages with Central Asian countries. Governor Punjab Ch Muhammad Sarwar who was the chief guest on the occasion, in his address assured full support to the business community and lauded RCCI’e efforts in promoting trade activities in the region and provide platforms to explore new destinations for possible investment and trade ties with central Asian countries. China Pakistan Economic Corridor (CPEC) is undoubtedly a game changer project. The benefits of CPEC are not limited to any city or province, but its dividends are for the whole region, he added. With the completion of this project, Balochistan will become a hub of economic and trade activities and thus the dream of becoming a new Pakistan very soon will be realized, he said h

China's Belt and Road mega-plan may devastate the world's oceans, or help save them

Mischa Turschwell ,  Christopher Brown ,  Ryan M. Pearson ,  Griffith University November 19, 2020 2.14pm AEDT China’s signature foreign policy, the Belt and Road initiative, has garnered much attention and controversy. Many have voiced fears about how the huge infrastructure project might expand China’s military and political influence across the world. But the environmental damage potentially wrought by the project has received scant attention. The policy aims to connect China with Europe, East Africa and the rest of Asia, via a massive network of  land and maritime routes . It includes building a series of deepwater ports, dubbed a “ string of pearls ”, to create  secure and efficient  sea transport. All up, the cost of investments associated with the project have been estimated at as much as  US$8 trillion . But what about the environmental cost? Coastal development typically damages habitats and species on land and in the sea. So the Belt and Road plan may irreversibly damage the

OP-ED: How can Bangladesh benefit from the Belt and Road Initiative?

  Fahmida Khatun and Syed Yusuf Saadat  Published at 02:05 am November 19th, 2020 BRI aims to have connectivity and cooperation across six economic corridors, as shown in this map BIGSTOCK BRI projects hold high promises, but the outcome will depend on how Bangladesh plans and executes these projects The Chinese President Xi Jinping launched both the Silk Road Economic Belt and the 21st Century Maritime Silk Road initiatives in 2013. Afterwards, these were termed the Belt and Road Initiative (BRI). Also known as the New Silk Road, the BRI is an ambitious infrastructure project which stretches from East Asia to Europe.  The initiative’s objective is to build connectivity and cooperation across six main economic corridors. These are: (1) New Eurasia Land Bridge (NELB); (2) China-Mongolia-Russia (CMR) Economic Corridor; (3) China-Central Asia-West Asia (CAWA) Economic Corridor; (4) China-Indochina Peninsula (ICP) Economic Corridor; (5) China-Pakistan (CP) Economic Corridor; (6) China-Ba

Pakistan parliamentary committee passes CPEC Authority Bill

PTI |   Published: 18th November 2020 08:00 PM     Gwadar port of Pakistan which features in the China–Pakistan Economic Corridor (CPEC) plan (Photo | Youtube) ISLAMABAD: A parliamentary committee has cleared with majority vote the "China Pakistan Economic Corridor Authority (Amendment) Bill, 2020" which was blocked by the Opposition members during the last meeting, a media report said on Wednesday. The National Assembly's Standing Committee on Planning and Development presided over by ruling Pakistan Tehreek-i-Insaf (PTI) leader Junaid Akbar took up the government bill on Tuesday. After a detailed discussion, the committee agreed to decide the fate of the bill through voting. The Opposition members said their objections over the creation of the CPEC Authority (CPECA) had not been addressed and the creation of a new authority would affect CPEC projects instead of expediting them. The USD 60 billion China-Pakistan Economic Corridor (CPEC) is fully funded by Beijing under t

Pakistani workers protest against China’s unequal wages for locals in CPEC project

The huge disparity in the salaries is impacting the morale of the Pakistani staff, who are also given a different grade system than the Chinese. Besides, even as the Chinese staff is being paid in Yuan, the locals are getting their salaries in Pakistani rupees Updated: Nov 18, 2020, 16:20 IST By Asian News International | Posted by Ayshee Bhaduri, Karachi The News International reported that the Chinese staff recruited by the Punjab Mass Transit Authority for Orange Line Metro Train (OLMT) project was getting huge salaries in comparison to their Pakistani counterparts (AFP) Thousands of labourers on Wednesday staged a protest against China in Sindh’s Karachi complaining about unequal wages received by them as compared to their Chinese compatriots. Earlier, The News International reported that the Chinese staff recruited by the Punjab Mass Transit Authority for Orange Line Metro Train (OLMT) project was getting huge salaries in comparison to their Pakistani counterparts. The huge dispar