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Showing posts from July 15, 2020

Start of Diamer-Bhasha dam construction a historic milestone: CPEC chairman

Bajwa says the hydel project would create 16,000 jobs NEWS DESK  |  July 15, 2020         Lt Gen (rtd) Asim Saleem BajwaPHOTO: FILE/ EXPRESS ISLAMABAD: China-Pakistan Economic Corridor (CPEC) Chairman Lieutenant General (retd) Asim Saleem Bajwa said on Wednesday that Prime Minister Imran Khan has inaugurated the construction work of the mega hydroelectric project, the Diamer-Bhasha Dam, which is a historic milestone in the development of the country. The authority's chairperson said on social media that the dam's 6.4MAF (million-acre feet) of water would irrigate at least 1.2 million acres of the agricultural area in the country. The hydel power project would generate 4,500 MW of affordable, environmentally-friendly electricity and along with boosting the cement and steel industry sectors, he added. The project would also create around 16,000 jobs in the country.  Mobilisation for Diamer Bhasha:Historic milestone as PM kicks off mega construction work at Diamer Bhasha Dam today

Preempting Indian attack on CPEC

Pakistan must be wary of Indian hostility to the CPEC By: Muhammad Sohail Ahmed The Indian move to annex Kashmir in August 2019 was a big leap to prepare to disconnect the land link between China and Pakistan. The obvious outcome of such a move would result in cutting the ChinaPakistan Economic Corridor and dumping the initiative of china for regional peace, stability and the economic well-being of the region, particularly Pakistan. After being a target of security challenges one after the other for the last 70 years in the form of three wars and limited action in Kargil, Pakistan has been a turf for foreign powers’ tussle such as the wars in Afghanistan, with post-9/11 operations followed by US defeat and pull-out agreement with Taliban leaders. The new US Cold War doctrine calls for a significant role for India to counter China and retain US influence in the region after its forces leave Afghanistan under agreement with the Taliban. It is now the desire of the USA to destabilize the

Azad Pattan: What is the PoK hydel project deal signed by Pakistan, China?

The $ 1.5-billion project is the second power project under the China Pakistan Economic Corridor (CPEC), for which an agreement has been signed in the last two months. Written By  Nirupama Subramanian  , Edited By Explained Desk | New Delhi | Updated: July 16, 2020 7:00:19 am The 700-MW hydel power project is being built on the Jhelum river in Sudhoti district of Pakistan Occupied Kashmir. (Photo: Wikimedia Commons) Last week, Pakistan and  China  signed an agreement for the 700 MW Azad Pattan hydel power project on the Jhelum river in Sudhoti district of Pakistan Occupied Kashmir (PoK). The $ 1.5-billion project is the second power project under the China Pakistan Economic Corridor (CPEC), for which an agreement has been signed in the last two months. The first agreement, for the 1,100 MW Kohala project, was signed on June 23. That project, worth $ 2.3 billion, too will come up on the Jhelum near Muzaffarabad. ADVERTISEMENT Azad Pattan hydel project The agreement, signed on July 7, is

Iran backs BRI, CPEC after kicking India out

Baseless rumours are being spread about China-Iran cooperation, says Tehran's envoy Kamran Yousuf  |  July 15, 2020         BRI/CPEC. PHOTO: FILE ISLAMABAD: A day after reports suggesting Iran had dropped India from a key project linked to Chahbahar Port, Iran on Wednesday threw its weight behind the Belt and Road Initiative (BRI) as well as its flagship project, the China Pakistan Economic Corridor (CPEC). Iran's Ambassador to Pakistan Seyed Mohammad Ali Hosseini said the BRI and CPEC were beneficial for the regional development particularly for China, Iran and Pakistan. Without explicitly mentioning India by name, the Iranian envoy defended his country's recent decision to drop India from a key Chahbahar port project by saying "when some foreign governments found reluctant in their relations with Iran and need other’s permission for their even normal interactions, for sure they won’t be capable of planning and implementing such long- term cooperation contracts."

Mongolia and the Belt and Road Initiative: The Prospects for the China-Mongolia-Russia Economic Corridor

By:  Antonio Graceffo July 15, 2020 12:48 PM  Age: 6 hours Image: Mongolian Foreign Affairs Minister Damdiny Tsogtbaatar (left) meeting with PRC Vice President Wang Qishan (right) during a diplomatic visit to China, April 1, 2019. (Image source: Mongolian News Agency, April 1, 2019) Introduction Mongolia is a landlocked country with a population of roughly 3.3 million people, bordering on only two nations, China and Russia. The country’s primary exports are largely minerals and raw materials, making trade with countries other than its immediate neighbors difficult. China’s Belt and Road Initiative (BRI)—and specifically, its primary Mongolian component, the China-Mongolia-Russia-Economic Corridor (CMREC)—promises to facilitate trade between Mongolia and its neighbors, as well as granting Mongolia access to overland routes to the European Union and sea p

To counter China's Belt & Road project, India leverages ISA to light up Africa

4 min read   .   15 Jul 2020 Utpal Bhaskar NTPC Ltd to help develop solar parks in Gambia and Malawi, eyes more African nations The company accounts for nearly a fifth of India’s installed power generation capacity of 370 GW Topics Solar Power NEW DELHI: India will leverage its solar power credentials to reclaim lost ground in Africa, with state-run NTPC Ltd planning to help International Solar Alliance' (ISA) member countries—Gambia and Malawi—develop solar power parks to meet electricity demand, said two people aware of the development. After landing the project management consultancy contracts for developing solar parks in Mali and Togo, India’s largest power generation utility is also eyeing similar opportunities in other ISA member countries from Africa— Sudan, Mozambique, Egypt, Uganda, Rwanda and Niger. This comes in the backdrop of China’s attempt to co-opt countries into its ‘One Belt One Road’ initiative. “NTPC has identified ten member countries as leaders who may be wil

Three security personnel martyred, eight injured in attack by terrorists in Balochistan

Pakistan Web Desk July 14, 2020 'Three soldiers embraced shahadat while eight soldiers received injuries, including an officer. Five injured are critical,' says ISPR RAWALPINDI: Three army personnel were martyred and eight injured after terrorists opened fire at them during routine patrolling near Balochistan's Kahan village, the Inter-Services Public Relations (ISPR) said Tuesday. The ISPR, in a statement, said the security forces were patrolling near Gichak valley in the Panjgur district of Balochistan. "Three soldiers embraced shahadat while eight soldiers received injuries, including an officer. Five injured are critical," the ISPR said. The injured soldiers were shifted to Combined Military Hospital in Quetta, the statement added. Minister for Human Rights Shireen Mazari said the attack was a "condemnable act of terrorism". Senate Deputy Chairperson Saleem Mandviwala condemned the firing on security forces' patrolling party in Balochistan, sayin

Who’s Buying Whom? COVID-19 and China Cross-Border M&A Trends

Thilo Hanemann  and  Daniel H. Rosen June 18, 2020 The COVID-19 pandemic depressed equity values around the globe, triggering fears across the United States, Europe and Asia of a distressed asset buying spree by Chinese companies.  These concerns drove many governments to enact policies – some temporary, some permanent – to shield their companies from Chinese takeovers. Several months into the pandemic, the data tell a different story about cross-border M&A trends. There are no signs of a Chinese outbound investment boom, like the one seen after the global financial crisis a decade ago. Instead, takeovers are headed in the other direction:  into  China. This Time Is Different: China’s Investors Are Staying Home The global financial crisis of 2008/2009 was a catalyst for Chinese outbound investment. PRC companies were insulated from the financial shocks hitting the US and Europe, saw opportunities in falling overseas asset prices, and took advantage of ample liquidity at home and a