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Showing posts from October 27, 2020

Pakistan Belt and Road railway hits snag as China nixes low rate

Islamabad turns to G-20 for debt relief after Beijing reluctant to negotiate A laborer digs in preparation for the replacement of concrete sleepers along a railway track in Karachi in Jan. 2018.   © Reuters ADNAN AAMIR, Contributing writer October 27, 2020 15:36 JS KARACHI -- The Main Line 1, or ML-1, railway project, the largest in China's Belt and Road Initiative in Pakistan, has run into trouble as Beijing is reluctant to finance the project at the 1% interest rate demanded by Islamabad. ML-1 is the biggest initiative in the China-Pakistan Economic Corridor, or CPEC, with a price tag of $6.8 billion. With 2,655 km of track, it connects Karachi in the South to Peshawar in the North of Pakistan. Sheikh Rashid Ahmed, the federal minister of railways, claimed that ML-1 will provide jobs for 150,000 people in Pakistan. The country will invest 10% of the project cost as equity, and will bear the remaining 90% through a Chinese loan under the CPEC framework. Only Chinese companies are

Building China’s Belt and Road Initiative BIT by BIT

27 October 2020 Authors: Zachary Haver, Washington DC and Wendy Leutert, Indiana University China is actively promoting international investment, trade and infrastructure connectivity through Chinese leader Xi Jinping’s hallmark Belt and Road Initiative (BRI). Once wary of international investment law as a threat to domestic sovereignty, Beijing is embracing bilateral investment treaties (BITs) to protect investments associated with the BRI. As of October 2020, 138 countries have  signed  agreements to participate in the BRI. These  bilateral accords  may identify specific areas of cooperation or simply express a shared intent to collaborate.  According  to the World Bank, the 71 economies along key BRI transport corridors, including China, account for 35 per cent of global foreign direct investment, 40 per cent of global merchandise exports and 60 per cent of the world’s population. BITs provide the primary legal framework governing Chinese investments under the BRI. In these treaties

Webinar highlights investment opportunities in Balochistan

THE NEWSPAPER'S STAFF CORRESPONDENT QUETTA: Chinese investors were told about huge investment opportunities in Pakistan, particularly Balochis­tan, at a webinar organised by the Con­sulate General of Pakistan in Shanghai on Tuesday. The webinar on trade and investment opportunities in the country was hosted by Pakistani Consul General in Shanghai Hussain Haider and attended by CEO of Balochistan Board of Investment and Trade Farman Zarkoon, Vice President of China Council for the Promotion of International Trade Ye Yuhua, President of Sialkot Chambers of Commerce and Industry Qaisar Baryar and St Fulin Group senior partner Echo Lee. Chinese investors and representatives of business fraternity also participated. Mr Haider gave a presentation about the investment potential of Pakistan, saying that the country had a liberal trade regime and freely allowed import and export of all products. He said that there were strong reasons for investing in Pakistan, including its large market siz

Call for ‘independent Balochistan’ from Pakistan’s all-party platform

    Tue, Oct 27 2020 01:31:25 PM By Ateet Sharma New Delhi, Oct 27 (IANS):  Facing death and discrimination at the hands of Pakistani authorities for decades, the Baloch freedom fighters have their chests all pumped up after a top leader demanded yesterday the creation of an "independent Balochistan state" during a massive rally which was also addressed by Pakistan Muslim League-Nawaz (PML-N) vice-president Maryam Nawaz, Pakistan Peoples Party (PPP) chief chairman Bilawal Bhutto Zardari, Jamiat Ulema-e-Islam-Fazl (JUI-F) chief Maulana Fazlur Rehman and former prime minister Nawaz Sharif via video link from London. Addressing the 11-party Pakistan Democratic Movement's (PDM's) third march against the Imran Khan government in Quetta, Jamiat Ulema-i-Pakistan (JUP) leader Maulana Shah Owais Noorani has put his stamp of approval on Balochistan's separation from Pakistan. " We want Balochistan as an independent state. Today, Balochistan looks like an underdeveloped

Pakistan Inaugurates First Transport Project Worth $2.2 Billion Under CPEC

Pakistan Inaugurates First Transport Project Worth $2.2 Billion Under CPEC Punjab province Chief Minister Usman Buzdar and Chinese officials inaugurated the projected which has been completed in six years at the cost of over USD 2.2 billion. Pakistan and China flags PTI UPDATED ON: OCTOBER 27, 2020, 11:43 IST FOLLOW US ON: The first transport project under the China-Pakistan Economic Corridor (CPEC) was inaugurated here on Sunday. Punjab province Chief Minister Usman Buzdar and Chinese officials inaugurated the projected which has been completed in six years at the cost of over USD 2.2 billion. The overhead Lahore Orange Line Metro Train will operate between Lahore's Dera Gujjran to Ali Town on 27Km stretch from Monday. As many as 250,000 people will be able to commute daily using the Orange Line trains. Advertisement China said Orange Line Train is also a symbol of Pakistan-China friendship and a gift for the people of Lahore. Experts from China have trained Pakistani drivers on h

Explosion at a religious seminary in Pakistan’s northern city of Peshawar has killed at least eight people

Children among those killed after explosives hidden in bag detonate Shah Meer Baloch  in Islamabad Tue 27 Oct 2020 04.20 EDT An explosion at a religious seminary in Pakistan’s northern city of Peshawar has killed at least eight people and injured 110 others. The deadly blast took place at about 8.30am at the Jamia Zuberia religious school   in Dir Colony, where about 500 students were gathered to hear a lecture by influential cleric Rahimullah Haqqani. Most of them were between 20 and 30 years old and from the Khyber Pakthunkwa and Balochistan regions of Pakistan, as well as some from Afghanistan. A police superintendent, Waqar Azeem Kharal, said the explosion had been caused by high-quality explosives brought into the lecture hall in a bag. Kharal said that ball bearings were also used in the explosives. “It shows the attackers planned for mass casualties,” he said. Police superintendent Rajab Ali of the counter terrorism department confirmed it was being treated as an act of terroris