#60 billion cpec

[doonitedin]

China, Pakistan worry about protecting $60 billion CPEC after Taliban's resurgence in Afghanistan

China, Pakistan worry about protecting $60 billion CPEC after Taliban’s resurgence in Afghanistan

Image Source : PTI/FILE China, Pakistan worry about protecting $60 billion CPEC after the Taliban’s resurgence in Afghanistan China and Pakistan — after the initial euphoria over the Taliban victory in Afghanistan -– have an immediate challenge: protection of the $60 billion China-Pakistan Economic Corridor (CPEC). And Beijing is primarily dependent on Pakistan for this. But as the Taliban freed…

[dbpnews]

China, Pakistan worry about protecting $60 billion CPEC after Taliban's resurgence in Afghanistan | After the arrival of Taliban in Afghanistan, China, Pakistan are concerned about the security of CPEC

China, Pakistan worry about protecting $60 billion CPEC after Taliban’s resurgence in Afghanistan | After the arrival of Taliban in Afghanistan, China, Pakistan are concerned about the security of CPEC

China, Pak worry about CPEC’s security after Taliban’s arrival in Afghanistan – bhaskarhindi.com . Disclaimer: This story or news has been auto-aggregated by a computer program, As well as few words that have been auto-convert with the same synonyms. This is not manually created or edited by our website/portal.

[beardedmrbean]

(Reuters) - The Baloch Liberation Army (BLA), which claimed a deadly attack on Chinese citizens in Karachi on Tuesday, is the most prominent of a number of separatist groups operating against the Pakistani state in the southwestern province of Balochistan.

BLA's stated aim is complete independence for Balochistan, Pakistan's largest province by territory but the smallest in terms of population given its arid mountainous terrain.

The province has seen a decades-long insurgency against what separatists call the unfair exploitation of resources in the mineral-rich region.

Balochistan borders Afghanistan to the north, Iran to the west and has a long coastline on the Arabian Sea. It has Pakistan's largest natural gas field and is believed to have many more undiscovered reserves.

It is also rich in precious metals including gold, the production of which has grown over recent years.

Most of the separatist groups operate independently, but some recent reports in local media have pointed to increasing cooperation between them.

Pakistani security forces have been their main focus, but in recent years they have also targeted Chinese interests, given Beijing's increasing economic footprint in the region.

Among China's major projects in Balochistan is the port of Gwadar, strategically located near the Strait of Hormuz - a crucial oil shipping route in the Arabian Sea. Chinese engineers working at the port came under attack from an operation claimed by the BLA last year.

A Chinese company also operates a major gold and copper mine in Balochistan.

The security of its nationals in Pakistan has become a major issue for Beijing, especially since it launched the China-Pakistan Economic Corridor (CPEC), which envisages development projects worth more than $60 billion.

The BLA says it attacks Chinese nationals because Beijing ignored warnings not to enter deals and agreements regarding Balochistan before the province had been "liberated". Reuters has not been able to verify its claims independently.

The group demands that all Pakistani security forces withdraw from Balochistan and has suggested negotiations in the presence of an "international guarantor".

It claims its "Fidayees" (guerrillas) are made up of young, educated Baloch who are disillusioned by hardship and being sidelined from economic development.

Under its current guise, the BLA was led by Balach Marri, scion of an influential Baloch family. Security officials said Marri was killed in neighbouring Afghanistan in 2007, where he had established a base and hideout.

After initially being hampered by Marri's death, the BLA has accelerated its attacks, particularly in the last year.

The group says it is currently led by a man named Bashir Zeb Baloch, the organisation's shadowy commander-in-chief about whom little is known.

The BLA has claimed a number of major attacks in recent months, including a simultaneous storming of two paramilitary bases in Balochistan earlier this year.

Most of the attacks take place in Balochistan or in the southern city of Karachi, Pakistan's commercial hub located close to the province.

The BLA claimed attacks there on the Pakistan Stock Exchange Building in 2020 and the Chinese consulate in 2018.

[znewstech]

All Chinese In Economic Corridor Project In Pak To Get Bullet-Proof Cars: Report

All Chinese In Economic Corridor Project In Pak To Get Bullet-Proof Cars: Report

The USD 60 billion CPEC is part of China’s ambitious Belt and Road Initiative. (File) Islamabad: Pakistan and China have agreed to use bullet-proof vehicles for all outdoor movements of the Chinese nationals working on the CPEC projects in Pakistan to protect them from terrorist attacks after Beijing expressed concern over their security, according to a media report on Sunday. The China-Pakistan…

[squarwell-breakingnews]

All Chinese In Economic Corridor Project In Pak To Get Bullet-Proof Cars: Report

All Chinese In Economic Corridor Project In Pak To Get Bullet-Proof Cars: Report

The USD 60 billion CPEC is part of China’s ambitious Belt and Road Initiative. (File) Islamabad: Pakistan and China have agreed to use bullet-proof vehicles for all outdoor movements of the Chinese nationals working on the CPEC projects in Pakistan to protect them from terrorist attacks after Beijing expressed concern over their security, according to a media report on Sunday. The China-Pakistan…

[newslobster]

All Chinese In Economic Corridor Project In Pak To Get Bullet-Proof Cars: Report

All Chinese In Economic Corridor Project In Pak To Get Bullet-Proof Cars: Report

The USD 60 billion CPEC is part of China’s ambitious Belt and Road Initiative. (File) Islamabad: Pakistan and China have agreed to use bullet-proof vehicles for all outdoor movements of the Chinese nationals working on the CPEC projects in Pakistan to protect them from terrorist attacks after Beijing expressed concern over their security, according to a media report on Sunday. The China-Pakistan…

[truthshield]

China-Pakistan ties hit rough patch as Gwadar port fails to take off

Not all’s well between China and Pakistan even as the two countries keep reiterating their support and commitments towards each other. The much-hyped China-Pakistan Economic Corridor (CPEC) is yet to yield the desired dividend. While most of the projects are running “woefully” behind schedule, the main problem is lack of demand. Business is yet to take off at the deep-sea Gwadar port despite being operational. “Though we hear that the Gwadar port is operational, there are several critical issues plaguing operations. While it is a given that issues have come up due to security lapses and incomplete projects, we need to understand that demand, which is the most critical factor, is not adequate,” Abhijnan Rej, researcher and consultant focusing on Asian security and geopolitics. Though authorities of both countries claim that progress at the Gwadar port � the flagship project of the $60 billion infrastructure exercise– has been satisfactory, concerns are rising. And now China and Pakistan have thrown open the door to other countries to come on board. Third Pole, a research platform dealing specifically with issues of water, climate, livelihoods across the Himalayas and Asia’s great rivers, said that on paper, the port’s potential is promising. At present, it has space to berth two or three large ships with a capacity of 50,000 deadweight tonnage. But the lives and livelihood of the people living in the region have not improved. “It is ready for anyone to use. It’s up to investors and traders to use it to do profitable business. We cannot trade for them,” Third Pole quoted Naseer Khan Kashani, chairman, Gwadar Port Authority (GPA) as saying. In a report by the research firm published in August last year “there were buildings, sheds and godowns (warehouses) on the land, but no people in sight.” Rej said that the situation has not changed much. Another analyst added that internally China is unhappy with the way the CPEC is progressing though it is a central plank of Beijing’s overall geopolitical strategy in the region. “With the rising challenges on the home front, China’s ability to deal with BRI is slowing though CPEC is important for the country as it is also meant to curb India’s influence,” he said. The Gwadar port aimed at connecting China’s Xinjiang province to the Arabian Sea was envisaged to be a trade hub. Besides being more or less an idle port, other issues relating to security breach, corruption, misappropriation of funds and protests from local residents have also marred the progress of the project. In an interview with India Narrative earlier, the late Shakti Sinha, who was director, Atal Bihari Vajpayee Institute of Policy Research and International Studies, MS University said that the route mapping of the CPEC including the Gwadar port project will not be successful on its own. “Until other countries including India come on board, it will not be a success story… it is unlikely that India will join the club,” he had said. Media reports a few months ago indicated that only three projects under the CPEC umbrella have been completed. Officially launched in 2015, the grand project is part of China’s Belt and Road Initiative (BRI) spread across countries in multiple continents. However, the two countries are trying to maintain a facade that everything is hunky dory. China and Pakistan after the meeting of the CPEC joint working group last week decided “to continue to deepen media cooperation and do a good job in telling CPEC stories.” China’s Foreign Ministry Spokesperson Zhao Lijian at the regular press conference yesterday said that leaders of both countries have agreed to push forward all CPEC projects in a safe, smooth, and high-quality manner that will benefit the people of the region. He added that the two sides have also agreed to “cope with risks and challenges to accumulate positive energy for, inject new impetus into, and provide a strong guarantee for the development of CPEC.” (The story has been published via a syndicated feed.) https://ift.tt/6RHGPtN https://ift.tt/bZ64XeG

[newsbuzzfinderblog]

PM Shehbaz Sharif assures security enhancement of Chinese citizens in Pakistan, affirms resolve to fast track CPEC projects - Times of India

PM Shehbaz Sharif assures security enhancement of Chinese citizens in Pakistan, affirms resolve to fast track CPEC projects – Times of India

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday assured China that his government is determined to take all necessary measures for the enhanced security and safety of Chinese nationals in Pakistan and affirmed his “firm resolve” to fast track projects under the $60 billion CPEC. During a “comprehensive telephonic conversation” with Chinese premier Li Keqiang, Sharif underscored the need for…

[businesstouchmagazine]

China on Sunday pledged closer cooperation with Pakistan under the USD 60 billion CPEC investment program and called for resolving the Kashmir

Read Full article on.. Visit : https://businesstouchmagazine.com/after-xi-imran-meets-china-and-pakistan-bring-up-the-jk-issue/ Email : info@businesstouchmagazine.com Call : +919034004324

#china #pakistan #imrankhan #kashmir #xijinping #businesstouchmagazine

[athibanenglish]

gwadar port: Pak, China vow to tap full potential of strategic Gwadar Port

gwadar port: Pak, China vow to tap full potential of strategic Gwadar Port

ISLAMABAD: All-weather allies Pakistan and China have agreed to use the full potential of the strategic Gwadar Port in Balochistan province, a major project under the CPEC that provides the Communist-giant an opening to the Arabian Sea, according to a media report on Friday. The CPEC is the flagship project of China’s ambitious $60 billion Belt and Road Initiative (BRI) and it links China’s…

[znewstech]

Pakistan PM Sharif meets Chinese president Xi; both agree to strengthen all-weather ties, CPEC - Times of India

Pakistan PM Sharif meets Chinese president Xi; both agree to strengthen all-weather ties, CPEC – Times of India

BEIJING: On his maiden visit to Beijing, Pakistan Prime Minister Shehbaz Sharif held talks with Chinese President Xi Jinping during which the two leaders agreed to strengthen the all-weather friendship and the USD 60 billion China-Pakistan Economic Corridor (CPEC). Shehbaz arrived in Beijing on Tuesday night on a two-day visit. This is his first visit to China since assuming office in April this…

[divyabhashkar]

gwadar port: Pak, China vow to tap full potential of strategic Gwadar Port

gwadar port: Pak, China vow to tap full potential of strategic Gwadar Port

ISLAMABAD: All-weather allies Pakistan and China have agreed to use the full potential of the strategic Gwadar Port in Balochistan province, a major project under the CPEC that provides the Communist-giant an opening to the Arabian Sea, according to a media report on Friday. The CPEC is the flagship project of China’s ambitious $60 billion Belt and Road Initiative (BRI) and it links China’s…

[indochinanews]

Enslaved Pakistan will assemble Chinese cars

The sell-out success of the Chang'an Alsvin sedan is the latest Pakistani-Chinese joint venture to have raised eyebrows in the low-cost, low-quality segment of the automotive world.

Chinese car firms seeking new avenues for cheap labor and the market to grow. Now hampered in India, due to China's all-out war, now sees Pakistan as an entry point to the right-hand-drive markets of South Asia and a way to avoid International Sanctions against China for launching the coronavirus pandemic on the world.

A Pakistan-Chinese automotive joint venture recently sold out six months' production of its first compact, low-cost sedan car within five days of market launch, a success that investors and analysts believe could pave the way for Pakistan to become a Manufacturing and export base for Chinese right-hand-drive vehicles.

The stock-clearing sale of 15,000 Chang'an Alsvin passenger vehicles is the latest in a series of headlines about joint ventures between privately held Pakistani conglomerates and Chinese state-owned automotive enterprises.

However, just like within China, people within Pakistan prefer higher quality Japanese, Korean or European cars. However, the low-cost segment will look at Chinese Cars as an entry point.

However, these cars have no Status Value or resale value due to the quality of manufacturing in a Chinese Car.

The Alsvin is assembled at a US$136 million plant near the port city of Karachi owned by Master Chang'an Motors (MCM), established in 2017 as a 70:30 joint venture between the local Master Group and leading Chinese carmaker Chang'an Automobile. In addition to the 30,000 units a year of the Alsvin, it began producing two pick-ups and a multi-purpose vehicle in 2018.

This month, shanghai-based SAIC Motor, owner of the British car brand MG, broke ground at the site of a US$100 million plant near Karachi, which is expected to begin production of three small-engined sports utility vehicles, or SUVs, next year.

KA Hanteng Motor, a joint venture with China's Hanteng Automobile, is building a US$50 million plant in Pakistan and is expected to start making 15,000 SUVs and passenger cars this year.

Al-Hajj FAW, a Karachi-based joint venture formed in 2012, ramped up production of hatchbacks last year to 20,000 vehicles.

When the Master Group proposed the joint venture to Chang'an Automobile in 2016, it did so with the ambition of leveraging the estimated US$60 billion China-Pakistan Economic Corridor (CPEC) to gain access to other Asian markets targeted for investment under the Belt and Road Initiative, MCM's chief executive Danial Malik said.

The CPEC is the single largest program under Beijing's Belt and Road Initiative to enslave economies to China to the detriment of many developing countries.

Under the first five-year phase of the CPEC, Chinese state-owned enterprises have built power plants generating 5,320 megawatts of electricity and 1,544km of motorways. Other projects under construction will add another 2,844 megawatts of power generation capacity and 1,456km of motorway, completing Pakistan's north-south network. However, this has come at a very cost to Pakistan which is drowning in Chinese Debt and has been enslaved, similar to the East India Company Rule.

The motorways, once completed, will greatly reduce transit times for Chinese cargoes entering Pakistan either at the sole overland border crossing with the Xinjiang Uygur autonomous region or through the Chinese-operated port of Gwadar on the Arabian Sea.

"We came into Pakistan with a joint venture with Chang'an, and this was under the umbrella of CPEC 2.0," Malik said, referring to the second five-year phase of the program under which Pakistan is developing special economic zones to attract Chinese manufacturers.

"Since China is a left-hand-drive market, Chang'an was looking to develop a right-hand-drive manufacturing base, and that is what we pitched Pakistan as – and as a country that we could then eventually export vehicles from China to other right-hand-drive markets" like populous Bangladesh and nearby Sri Lanka, he said.

London-based automotive industry analyst Puneet Gupta said the development of a righthand-drive manufacturing base was key to the profit growth of Chinese state-owned automobile manufacturers, which have limited growth opportunities within China, where the market is completely saturated.

After a decade of "phenomenal growth," the Chinese market had "entered into a stagnation phase in the last two years," said Gupta, an automotive research and analysis manager for IHS Markit, a UK-based data and information services provider.

"This made Chinese car manufacturers explore other markets and invest in neighboring markets to regain the growth path. One of the most vital strategies is to explore the righthand-drive markets like Pakistan," he said.

He said that Pakistan's potential as a strategic hub for Chinese carmakers has grown because of the extraordinarily close master-slave relationship between the evergreen allies. Neighbouring India has opposed the CPEC since it was launched in 2015 because it involves Chinese investments in the Pakistan-occupied half of Kashmir.

Since independence from British colonial rule in 1947, India and Pakistan have fought three wars over Kashmir.

China and Pakistan settled their dispute over the border between Xinjiang and Gilgit- Baltistan in 1963, a year after Chinese forces defeated India and occupied Hugh parts of Ladakh. in a war over the Himalayan border.

The conflict reignited in the Ladakh region of Kashmir last June after Chinese troops seized several hundred kilometers of territory belonging to India.

The stand-off in Ladakh prompted India's government to introduce restrictions on Chinese investments, effectively ending any prospect of Chinese carmakers establishing a manufacturing base in the world's largest right-hand-drive market.

"Chinese companies need security clearance for investment in India, so it has become difficult for them to do business and grow in India," Gupta said. "This is the reason why China is being forced to move towards the Pakistan market, which has potential to have limited growth and is a right-hand-drive market."

MCM's Malik said China's automotive giants, having previously devoted themselves to satisfying domestic demand, only recently decided to focus on developing countries after finding that Japanese and South Korean carmakers had captured the markets in developed economies.

"Similar to what they've done with consumer electronics," Malik said Chinese automobile manufacturers were looking to attract consumers with cars and commercial vehicles packed with state-of-the-art features at "a very accessible price point."

This policy determined the runaway success of this month's rollout of three Chang'an Alsvin in Pakistan.

Consumers' choices were previously limited to a very narrow range of locally assembled Japanese cars – all of which are one or more generations older than the versions marketed in developed economies.

Toyota, Honda, and Suzuki have enjoyed a virtual monopoly since they established joint ventures in Pakistan in the early 1990s and assembled cars specifically for domestic consumption.

Alternatively, Pakistani consumers looking for cars with more features and better technology buy imported used hatchbacks from Japan, which until two years ago would cost roughly 20 percent less than entry-level models of locally assembled compact sedans like the Toyota Corolla and Honda City, and about 20 percent more than hatchbacks and multipurpose vehicles made in Pakistan like Suzuki's Alto and Wagon-R.

This pricing formula was knocked off-kilter by the 50 percent rupee depreciation against the US dollar between 2018 and 2020, as Pakistan struggled with a balance of payments crisis sparked by its failure to grow exports as imported Chinese machinery flooded in for CPEC.

The rupee-denominated price of Japanese cars soared by about a third as a consequence, and the gap between hatchback and compact sedan prices widened to the point that most middle-class Pakistani families could no longer afford cars with boots.

Amid this market shift, MCM took aim at the recently deprived market segment. "Our strategy with the Alsvin was to give the Pakistani consumer access to a Low Cost – Low-Quality sedan, because the way prices were going, the entry-level sedan was out of reach for the general customer," Malik said.

"Not only did we bring a sedan that was accessible to the hatchback consumers of Pakistan. We also introduced features that were either unavailable in any sedan in Pakistan" or only available in sedan models priced more than 35 percent higher than the Alsvin.

It is also the first car model manufactured in Pakistan powered by an engine designed to use low-sulfur Euro-5 standard fuel, which Pakistan's government has ordered oil refiners to introduce this year.

Other Pakistan-based manufacturers have yet to replace polluting Euro-2 standard engines in their vehicles.

"Bringing those features to an entry-level sedan was the real wow factor, and the consumers loved it," Malik said. However, Low-Cost buyers do not really care about the environmental impact, and as Beggars cannot be Choosers.

Compared to the scale of China's domestic market, the world's largest, the probable sale of 30,000 Chang'an Alsvin compact sedans to Pakistani consumers appears relatively insignificant.

Chinese automobile manufacturers sold 19.29 million passenger cars last year, falling for a third consecutive year. According to the Chinese Passenger Car Association, sales were about 20 percent less than in the peak year of 2017.

On the other hand, Pakistani car makers are forecast to sell about 200,000 cars in the financial year 2020-21, which ends in June, down from peak sales of about 217,000 vehicles in 2017-2018.

However, Chinese automobile sales in Pakistan are already much higher than in Indonesia, where more than 800,000 vehicles were bought in 2019. Both right-hand-drive countries have populations well in excess of 200 million people.

Pakistan's government is consulting automobile manufacturers on a new policy framework approved in December to incentivize investment in electric vehicle manufacturing, a key growth market for Chinese carmakers.

They have already announced plans to market and manufacture Chinese electric vehicles in Pakistan as soon as tax incentives under the policy are finalized. According to MCM chief executive Malik, the sticking point is that the entrenched Japanese carmakers have sought to nullify any advantage to Chinese manufacturers by demanding the same deal for hybrid vehicles.

Naturally, Malik sees his competitors' lobbying as an impediment to establishing electrical mobility across Pakistan. He argued that Pakistan would benefit more by leapfrogging from combustion engines to electrical motors, similar to how it prioritized nationwide mobile telephony coverage in the early 2000s over laying landlines in its rural areas.

The dumping of Petrol driven vehicles should ideally be bypassed, and Pakistan should move directly to an electric vehicle. By allowing this Petrol driven vehicle is the equivalent of Dumping inferior goods into Pakistan

Once the arguments over Pakistan's policy are cleared, MCM plans to expand production capacity at its Karachi plant – where a dedicated 2.5-megawatt solar power plant is under construction – to add a range of electric vehicles.

Under its Shangri-La plan launched in 2018, Chang'an Automobile is building electrical versions of all its 30-plus models by 2025.

"Definitely, it makes sense" for Chinese automobile manufacturers to use Pakistan as a manufacturing base for right-hand-drive electric vehicles, IHS analyst Gupta said, "because Chinese players can easily import parts and assemble electric vehicles in Pakistan, and later on the move to manufacturing as the market becomes bigger in the country." However, how feasible this is is a matter of concern due to the very bad electrical infrastructure within the Country.

Modified from source: South China Morning Post

[fast1997]

Pakistan PM assures of expeditious progress on CPEC projects

Pakistan PM assures of expeditious progress on CPEC projects

ISLAMABAD: Pakistan prime minister Imran Khan said on Thursday that his government will expedite work on the $60 billion China-Pakistan Economic Corridor (CPEC) projects despite Covid-19 related problems. Addressing a ceremony in Islamabad to mark the inauguration of a 600 kilovolt (kV) transmission line under the CPEC running between Matiari and Lahore, Khan pointed out that the pandemic had…

[xtruss]

Analysis-As West Ponders Aid For Afghanistan, China and Pakistan Quick to Provide Relief

— Charlotte Greenfield | September 12, 2021

ISLAMABAD (Reuters) — As international donors gather in Geneva on Monday to discuss humanitarian relief for Afghanistan under Taliban rule, neighbours China and Pakistan have already reached out with aid and discussions of future assistance.

Labourers unload boxes of pomegranates from Afghanistan, from a truck at the 'Friendship Gate' crossing point, in the Pakistan-Afghanistan border town of Chaman, Pakistan, September 7, 2021. Reuters/Saeed Ali Achakzai/File Photo

The economy in the war-torn country is in crisis and a humanitarian crisis is looming, experts say.

Yet the United States and other Western nations are reluctant to provide the Taliban with funds until the Islamist militant movement provides assurances that it will uphold human rights, and in particular the rights of women.

The country’s roughly $10 billion in foreign assets, held overseas, are also frozen.

“The understandable purpose is to deny these funds to the de facto Taliban administration,” Deborah Lyons, the U.N. Secretary General’s special representative for Afghanistan, told the U.N. Security Council this week.

“The inevitable effect, however, will be a severe economic downturn that could throw many more millions into poverty and hunger, may generate a massive wave of refugees from Afghanistan, and indeed set Afghanistan back for generations.”

Another possible effect could be to drive Afghanistan closer to its neighbours and close allies Pakistan and China, who have already sent planeloads of supplies to Afghanistan. They have also signalled they are open to ramped-up engagement.

China announced last week it would send $31 million worth of food and health supplies to Afghanistan, among the first foreign aid pledges since the Taliban took power last month.

Pakistan last week sent supplies such as cooking oil and medicine to authorities in Kabul, while the country’s foreign minister called on the international community to provide assistance without conditions and to unfreeze Afghanistan’s assets.

MINERALS AND MILITANCY

Pakistan has had deep ties with the Taliban and has been accused of supporting the group as it battled the U.S.-backed government in Kabul for 20 years - charges denied by Islamabad.

China, with a strong alliance with Pakistan, has also been engaging with the Taliban. Some analysts said it was enticed by the country’s mineral wealth, including large reserves of lithium, a key component for electric vehicles.

China has also expressed concern about militancy that could spill over from Afghanistan across its border, which it wants the Taliban administration to help contain.

Beyond humanitarian aid, some experts and officials in the region say China’s huge Belt and Road Initiative (BRI) could provide Afghanistan with long-term economic viability.

One possibility is Afghanistan joining the China-Pakistan Economic Corridor (CPEC), a central part of the BRI, under which Beijing has pledged over $60 billion for infrastructure projects in Pakistan, much of it in the form of loans.

“The Taliban would welcome joining CPEC, China would also be very happy,” said Rustam Shah Mohmand, Pakistan’s former ambassador to Afghanistan.

China has not made any comment on the BRI but Foreign Minister Wang Yi has said Beijing is ready to actively discuss the resumption of China-Afghanistan freight trains and facilitate Afghanistan’s interaction with the outside world, especially its access to humanitarian supplies.

Pakistan’s foreign office and a Taliban spokesperson did not immediately respond to request for comment.

TALIBAN, CHINA TALK - SOURCE

Chinese State Councilor and Foreign Minister Wang Yi meets with Mullah Abdul Ghani Baradar, political chief of Afghanistan's Taliban, in Tianjin, China July 28, 2021. Li Ran/Xinhua via Reuters

Taliban leaders in recent weeks have said they want good relations with China.

A senior Taliban source said discussions have taken place with China in Doha about possible investment opportunities. China is interested in mining in particular but any activity in the sector will be open to tender, the source said.

“The Taliban welcomes foreign investment that will benefit the country,” he said.

Two sources in Afghanistan and Pakistan familiar with the matter said China had been proactively encouraging Afghanistan to join CPEC for years but had been met with a non-committal response from the previous U.S.-backed government.

The Taliban, with a need for economic stimulus and international recognition, seems more keen.

“The best way forward and the immediately available alternative option for Afghanistan’s economic development is CPEC, which includes Pakistan and China,” said Mushahid Hussain Sayed, a Pakistani senator and former chairman of the China-Pakistan Institute.

“The new administration in Kabul would also be receptive to this and they are keen on it.”

For China, though, which already has mining interests in Afghanistan that have struggled to get off the ground, any further investment would come with risks attached, given the uncertain security situation in the country.

“Absolutely the security and stability of Afghanistan is also of importance to China,” said Wang Huiyao, president of the Centre for China and Globalisation, a think-tank.

“But also links to Central Asia and the connectivity through the Belt and Road, it’s all related for the regional stability and prosperity...There’s a stake there for China.”

— Reporting by Charlotte Greenfield; Additional reporting by Alasdair Pal and Gabriel Crossley; Editing by Raju Gopalakrishnan

🇵🇰 🇨🇳 🇦🇫

[lahoreherald]

Tarin Highlights economic plans for 14 key sectors

Finance Minister Shaukat Tarin announced another short-, medium-, and long-term economic plan for 14 important industries on Friday, pledging not to quit the International Monetary Fund (IMF) program and instead of taking it to face-to-face negotiations in Washington in October.

Tarin also said the deadlock on Pakistan’s steel mills has been broken and that proposals will open in a few days for its official privatization process, speaking at a press conference with eight cabinet colleagues and private sector members of the Economic Advisory Council (EAC).

Mr. Tarin stated that performance in 14 areas will be reviewed beginning in September and that the prime minister would be briefed on the execution of the plans every month. “As a result, plans focus not just on developing strategies but also on guaranteeing execution, which is a significant departure from prior practice,” he added. He stated that while the present administration would be able to execute only short-term initiatives, some of which were already included in the current fiscal year’s budget, it would set the scene for future governments to follow.

The plan’s basic objectives include increasing overall economic growth from 3 percent to 6 percent over the next three years while keeping balance-of-payments pressures at bay and inflationary expectations low. It also involves raising the tax-to-GDP ratio by 1.5 to 2 percentage points per year, achieving a target of $30 billion in exports by FY 2023-24, and maintaining the momentum in international remittances.

The main goal is to provide a large number of job possibilities throughout time in order to involve the youth in productive areas of the economy.

Agriculture, including small farms, micro-enterprises, small and medium companies, construction, tourism, and information technology are the sectors highlighted for driving growth through the EAC platform. Mr. Tarin stated that this will be accomplished by policies that are logical, consistent, and well-coordinated among the federal, provincial, and private sectors.

Dr. Ishrat Hussain, Advisor to the Prime Minister on Institutional Reforms, stated that the roadmap would ensure export-led growth and strengthen the local government system because the devolution process under the 18th Amendment and the seventh National Finance Commission award had not been completed.

A multi-pronged plan for institutional changes in the public sector is included in the medium and long-term agenda, and provincial governments will prioritize attaining universal access to excellent education, health, safe drinking water, and sanitation.

Similarly, the federal and provincial governments would increase their emphasis on human development and build physical infrastructure that is behind in remote areas. The completion of China-Pakistan Economic Corridor projects, notably in agriculture, industrial cooperation, socio-economic development, and financial inclusion, is also part of the medium- to long-term planning.

It also involves the use of special technology zones, information technology parks, and incubation and entrepreneurship centers to supplement CPEC investments.

Long-term planning in the power and energy sectors includes executing the Renewable Energy Policy and the National Power Policy in order to achieve the target of 60% energy generation from non-fossil fuels, including hydropower generation.

The approach for tackling the circular debt problem involves lowering the cost of electricity generation by flattening the capacity payment curve through power producer restructuring.

Simultaneously, measures will be done to increase grid electricity demand by incentivizing captive-to-grid shift and the integration of NTDC-KE networks.

Farmers will be provided price guarantees and confirmed off takes as part of a multifaceted and multidimensional price stability plan to safeguard them from abuse at the hands of wholesalers and middlemen.

Published in Lahore Herald #lahoreherald #breakingnews #breaking