Pak eyes CPEC-like projects with China

Islamabad, October 23

Pakistan and China are set to start three new corridors in November, in addition to the multiple billion dollars China Pakistan Economic Corridor (CPEC), to strengthen bilateral ties.

The formal launch of the projects could take place during Pakistan Prime Minister Shehbaz Sharif’s visit to China next month following the invitation by President Xi Jinping, according to reports. The schedule of Shehbaz’s trip is being worked out.

These projects, which include health and digital corridors, were announced by Pakistan’s Ambassador to China Moinul Haq while speaking to the China Economic Net (CEN) in Beijing, the report said.

“We would be an important source of help for China in terms of software development. So, we are working to set up training centres in Pakistan for developing software,” said ambassador Haque.

Earlier this year, India had opposed the proposed extension of the CPEC to Afghanistan.

“Any such actions by any party directly infringe on India’s sovereignty and territorial integrity. Such activities are inherently illegal, illegitimate and unacceptable, and will be treated accordingly by India,” Minister of State in the Ministry of External Affairs V Muraleedharan said in a written response.

Launched in 2015, the CPEC is a multi-billion dollar development project, with a planned network of roads, railways and energy projects linking China’s Xinjiang Uyghur Autonomous Region with Pakistan’s strategic Gwadar Port on the Arabian Sea — ANI

SEEKS FRESH LOAN

• Pakistan has requested China to rollover its $6.3 bn debt, maturing in the next 8 months
• Another proposal under consideration to seek a fresh loan from China to repay the maturing debt
• The cash-strapped country is under pressure from west to seek rollover of Chinese debt, currently standing at $26.7 billion
• The cash-strapped country is under pressure from western governments to seek the rollover
• Chinese commercial loans cannot be rolled over but can be refinanced, which requires the government to first pay the maturing debt

Infringe on India’s integrity: MEA

Any such actions by any party directly infringe on India’s sovereignty and territorial integrity. Such activities are inherently illegal, illegitimate and unacceptable. — V Muraleedharan, minister of state, external affairs