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CPEC

PM Khan stresses early completion of CPEC projects

ISLAMABAD: Stressing the need for early completion of China Pakistan Economic Corridor (CPEC) projects, Prime Minister Imran Khan on Friday directed the Board of Investment’s chairman to present a comprehensive plan for swift development of special economic zones (SEZs) in the country, reported ARY News. The prime minister was presiding over a meeting to review progress on CPEC projects based on Pak-China cooperation in the areas of industrial development, special economic zones, agriculture, socio-economic development…

Govt will make Pakistan economically self reliant: Umar

ISLAMABAD: Finance Minister Asad Umar on Wednesday said the incumbent Pakistan Tehreek-e-Insaf government is working towards an economic revival to make the country self reliant, reported ARY News. Addressing a gathering in Islamabad, the minister stated that talks with the International Monetary Fund (IMF) have been in progress. "The money bill will not burden the public but will be focused on exports, Gross Domestic Product (GDP) and promotion of the industrial sector." Umar added that the China Pakistan Economic…

Pakistan, China terms 2019 year of economic, agri cooperation

ISLAMABAD: Pakistan and China have termed 2019 a year of economic, social and agricultural cooperation, ARY News reported on Tuesday. The understanding reached during a meeting between Chinese Ambassador to Pakistan Mr. Yao Jing and Minister for Planning and Development Makhdum Khusro Bakhtiar in the federal capital. Matters of mutual interest, progress on CPEC projects and other issues came under discussion during the meeting. Talking to Chinese envoy, Bakhtiar said that they would facilitate Chinese investors looking for…

Seven power projects of 3340 MW completed under CPEC: PAC informed

ISLAMABAD: The Public Accounts Committee (PAC) was informed on Tuesday that seven power projects of 3340 megawatt have been completed under the China Pakistan Economic Corridor (CPEC) project. The secretary Power Division was briefing the committee chaired by Opposition Leader Shahbaz Sharif in Islamabad on Tuesday. The secretary told the committee that 13 projects of 7240 megawatt under the CPEC were in the execution phase. He said the circular debt in power sector had crossed 755 billion rupees. On this…

China rejects as ‘misleading’ report about repayment of $40bn CPEC debt

ISLAMABAD: The Embassy of China in Pakistan has taken note of a recent report by a journalist in which he claimed that Pakistan will repay $40 billion debt to China under China-Pakistan Economic Corridor (CPEC). “This number of $ 40 billion is wrong and misleading,” the embassy clarified in a statement. “The CPEC is a major and important economic cooperation project between China and Pakistan. All CPEC projects are based on consensus of the two countries, and fully comply with relevant laws and regulations. Currently,…

Dollar’s reign faces challenges in 2019

LONDON/NEW YORK: After an unexpected rally that carried the dollar to 18-month peaks and saw it end 2018 as investors’ top trade, the currency faces challenges in the coming year. They include an expensive valuation, a flagging equity boom, waning cash repatriation by U.S. companies, and the possibility that the U.S. Federal Reserve will not raise interest rates as many times as signaled. Hence the prediction in a Reuters poll this month that the dollar will end 2019 around 5 percent below current levels.. That…

CPEC has no ‘military’ dimensions: FO

ISLAMABAD: China-Pakistan Economic Corridor (CPEC) is a bilateral economic project and has no military dimensions, said Foreign Office (FO) Spokesperson Dr Mohammad Faisal on Friday.  According to details, the statement from the FO spokesperson came during a interaction with news men in the federal capital. Referring to a report published in a section of US media alleging that the CPEC was more than an economy and trade project, it rather had military dimensions as well. The spokesperson elucidated that the multi…

Pakistan, China have emphasised need to further enhance scope of CPEC: minister

ISLAMABAD: Minister of Planning, Development and Reform Makhdum Khusro Bakhtiar on Friday said Pakistan and China had decided that the scope of the China-Pakistan Economic Corridor (CPEC) needed to be further broadened.           "We have already expanded the scope of the CPEC in Joint Coordination Committee," he said in an interview with local Chinese TV channel in Beijing. To a query about opening up of the CPEC to other countries, he said there were a couple of projects which could attract trilateral or collateral…