Send a Tweet
Most Popular Choices
Share on Facebook 7 Share on Twitter Printer Friendly Page More Sharing
OpEdNews Op Eds    H4'ed 10/10/19

Pakistan establishes China Pakistan Economic Corridor Authority for expediting delayed projects

By       (Page 1 of 2 pages)     (# of views)   No comments
Author 65550
Message Abdus-Sattar Ghazali
Become a Fan
  (9 fans)

Pakistan Prime Minister Imran Khan
Pakistan Prime Minister Imran Khan
(Image by Wikipedia)
  Details   DMCA

Pakistan on Monday (Oct 7) established the China Pakistan Economic Corridor (CPEC) Authority to speed up the delayed projects as Prime Minister Imran Khan arrived in Beijing.

The establishment of CPEC Authority was aimed at accelerating the pace of CPEC related activities.

Multi-billion dollar CPEC was launched in 2015 and several projects under the first phase are close to completion. But the progress on CPEC next phase projects have reportedly slowed since Prime Minister Imran Khan came to power last year.

The Pakistani media has reported that most of the CPEC-related projects have stalled due to certain reasons, including prevailing financial crunch confronting the government and non-cooperation' of the bureaucracy due to fear of the National Accountability Bureau, the anti-corruption watchdog.

The CPEC is the flagship project of President Xi Jinping's multi-billion Belt and Road Initiative (BRI).

The CPEC has also become a major irritant in India-China relations with New Delhi voicing its opposition to the infrastructure project as it traverses through Pakistan-administered Kashmir. India is wary of not only Pakistan becoming the recipient of all of this development but also of the increasing role of China in the region.

The CPEC was one of the major topics of discussion during Imran Khan's two-day (Monday, Tuesday) talks with Chinese President Xi Jinping and Premier Li Keqiang.

The CPEC Authority shall be primarily responsible for coordination, monitoring and evaluation to ensure implementation of CPEC activities. It shall exercise its powers and perform its functions in line with the framework and memorandum of understanding signed between Pakistan and China.

Pakistan has also amended tax laws to give income, sales tax and custom duty exemptions to Gwadar Port and Gwadar Free Zone to enabled them to deal with transit trade.

Meanwhile media reports said Prime Minister Imran Khan has decided to hand over cash-bleeding Pakistan Steel Mills (PSM) to China for its revival.

The federal Minister for Planning, Development and Reforms Makhdum Khusro Bakhtyar said Sunday that the government would offer the steel sector to China for bilateral cooperation in an effort to reduce about $2bn current imports on account of scrap and steel products.

The cooperation in this field would help the country enhance Pakistan Steel Mills capacity to three million tonnes, he said, explaining that Pakistan's steel requirement was currently nine million tonnes and was estimated to increase to 12m tonnes within a few years as economy starts to grow. At present, the country's total steel production stood at 4.5m tonnes.

"All the existing projects under the CPEC portfolio have been streamlined and there is no slowdown anywhere," the minister said.

The CPEC is an economic 'corridor' or zone between China and Pakistan started in 2015 and eventually, on completion, will be connecting a number of countries in South and Central Asia for trade and industrial purposes.

Originally valued at $46 billion, the value of CPEC projects is worth $62 billion as of 2017.

Next Page  1  |  2

 

Rate It | View Ratings

Abdus-Sattar Ghazali Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Author and journalist. Author of Islamic Pakistan: Illusions & Reality; Islam in the Post-Cold War Era; Islam & Modernism; Islam & Muslims in the Post-9/11 America. Currently working as free lance journalist. Executive Editor of American (more...)
 
Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

U.S. Muslims condemn killings of American diplomats in Libya

Pakistan's first Prime Minister Liaquat Ali Khan was assassinated by America

Are we living in Orwell's 1984 Oceania surveillance state?

2001-2011: A decade of civil liberties' erosion in America -- Part One

85 percent Muslims voted for President Obama

2001-2011: A decade of civil liberties' erosion in America -- Part Two

Comments Image Post Article Comment and Rate This Article

These discussions are not moderated. We rely on users to police themselves, and flag inappropriate comments and behavior. In accordance with our Guidelines and Policies, we reserve the right to remove any post at any time for any reason, and will restrict access of registered users who repeatedly violate our terms.

  • OpEdNews welcomes lively, CIVIL discourse. Personal attacks and/or hate speech are not tolerated and may result in banning.
  • Comments should relate to the content above. Irrelevant, off-topic comments are a distraction, and will be removed.
  • By submitting this comment, you agree to all OpEdNews rules, guidelines and policies.
          

Comment Here:   


You can enter 2000 characters. To remove limit, please click here.

Please login or register. Afterwards, your comment will be published.
 

Username
Password

Forgot your password? Click here and we will send an email to the address you used when you registered.
First Name
Last Name

I am at least 16 years of age
(make sure username & password are filled in. Note that username must be an email address.)

No comments  Post Comment

 
Want to post your own comment on this Article? Post Comment