One of China’s most ambitious projects becomes a corridor to nowhere

[Protest_again]

It's really annoying that people expect a mega-project worth tens of billions of dollars to be completed overnight.

Its been seven years, definitely not overnight.

 

[Hassan Guy]

Still waitin on the economy to take off.

 

[Pandora]

Only an idiot would think that CPEC will take off with not even 1/3rd of its projects leading to completion. You simply cant start picking fruit from a seed but need that seed to become a tree to gain benefits from it. CPEC will start bearing fruits down the line after a decade or so. CPEC itself is just bunch of energy and infrastructure projects which itself is significant but more significant is investment that will come with it which will take time.

 

[GumNaam]

If bloomberg is saying it's going nowhere then it must be headed in the right direction...u.s. is feeling butthurt for a reason.

 

[Pan-Islamic-Pakistan]

Then why US are scared?

Exactly.

 

[Jackdaws]

If Pakistan progresses it is good for its citizens and for the region. It seems that China is taking Pakistan for a ride here. They've done it in African countries and we saw what happened to that port in Lanka. Do Pakistanis see the project as a positive or they think it will lead them to a Chinese debt trap?

 

[beijingwalker]

If Pakistan progresses it is good for its citizens and for the region. It seems that China is taking Pakistan for a ride here. They've done it in African countries and we saw what happened to that port in Lanka. Do Pakistanis see the project as a positive or they think it will lead them to a Chinese debt trap?

That's what happened to Sri lanka

https://defence.pk/pdf/threads/port-city-colombo-sri-lanka-thank-you-china.651221/

 

[KhanBaba2]

That's what happened to Sri lanka

https://defence.pk/pdf/threads/port-city-colombo-sri-lanka-thank-you-china.651221/

The port Jackdaws is talking about is Hambantota and not Colombo.

 

[BringHarmony]

The port Jackdaws is talking about is Hambantota and not Colombo.

What kind of cargo tonnage does Hambantota receives each year?

Chinese playbook is rather simple : build infra-projects in countries that cann't use them by giving them loans on predatory rates. The money flows back into China as infrastructure development happens using Chinese machinery, companies and personnels. Finally when the country is not able to pay back even interest, then get lease on the infra on arbitrary terms.

 

[Jackdaws]

That's what happened to Sri lanka

https://defence.pk/pdf/threads/port-city-colombo-sri-lanka-thank-you-china.651221/

I am talking about Hambantota
https://amp.scmp.com/news/china/dip...its-debt-trap-hambantota-port-back-will-china

 

[beijingwalker]

Hambantota Port 2nd Anniversary

 

[RangeMaster]

1- This road to nowhere added 7000MW to national grid Only electricity gap was causing 13 billion dollars loss to Pak economy per annum.
2- Access to electricity for the rural population increased from 90.3% in 2015 to 98.8% in 2016 (World Bank)
3- Transmission and Distribution Losses went down to 16.5% in 2017 from 19% in 2015 (Ministry of Finance)
4- Bill recoveries increased from 16% in 2015 to 19% in 2017 (Ministry of Finance)
5- Installed capacity of electricity is 29,573 MW in 2018, which was 22,812 MW in 2013 (Pakistan Economic Survey)
Electricity generation increased from 96,496 GW/h to 117,326 GW/h (Ministry of Finance)
6- A total of $ 33.8 billion in energy project have added 12,230 Megawatts of energy (Pakistan Economic Survey)

Job Creation

1- Early harvest projects of CPEC have created 30,000 direct jobs for Pakistanis (ACCA Global and PCI)
2- 800,000 direct jobs estimated in the next 15 years. (Ministry of Planning and Development)
3- Construction of ML-1 projects will further create 10,000 to 15,000 direct jobs this year (Ministry of Planning and Development)
4- CPEC will reduce unemployment by 2.32 million by end of 2018 (Global Times)
5- 75% of the total employees working in CPEC projects are Pakistanis, contrary to the belief that the Chinese have a higher representation (Ministry of Planning and Development)
6- Raksai and Faisalabad SEZs are Under construction, many more to come. Will strengthen industrial base.

 

[vi-va]

1- This road to nowhere added 7000MW to national grid Only electricity gap was causing 13 billion dollars loss to Pak economy per annum.
2- Access to electricity for the rural population increased from 90.3% in 2015 to 98.8% in 2016 (World Bank)
3- Transmission and Distribution Losses went down to 16.5% in 2017 from 19% in 2015 (Ministry of Finance)
4- Bill recoveries increased from 16% in 2015 to 19% in 2017 (Ministry of Finance)
5- Installed capacity of electricity is 29,573 MW in 2018, which was 22,812 MW in 2013 (Pakistan Economic Survey)
Electricity generation increased from 96,496 GW/h to 117,326 GW/h (Ministry of Finance)
6- A total of $ 33.8 billion in energy project have added 12,230 Megawatts of energy (Pakistan Economic Survey)

Job Creation

1- Early harvest projects of CPEC have created 30,000 direct jobs for Pakistanis (ACCA Global and PCI)
2- 800,000 direct jobs estimated in the next 15 years. (Ministry of Planning and Development)
3- Construction of ML-1 projects will further create 10,000 to 15,000 direct jobs this year (Ministry of Planning and Development)
4- CPEC will reduce unemployment by 2.32 million by end of 2018 (Global Times)
5- 75% of the total employees working in CPEC projects are Pakistanis, contrary to the belief that the Chinese have a higher representation (Ministry of Planning and Development)
6- Raksai and Faisalabad SEZs are Umder construction, many more ro come. Will strengthen industrial base.

Well put, Pakistani brother!

 

[Wood]

If Pakistan progresses it is good for its citizens and for the region. It seems that China is taking Pakistan for a ride here. They've done it in African countries and we saw what happened to that port in Lanka. Do Pakistanis see the project as a positive or they think it will lead them to a Chinese debt trap?

I think China is taking Pakistan for a free ride. Despite the claims of CPEC being a loan, Pakistan may just be accorded the luxury of deferred payment by China. Only if Pakistan decides to side with the US against China in geo strategic affairs, will China lose its impetus to accord leeway for Pakistan.

 

[大汉奸柳传志]

let's just say militarily preping Pakistan is ten times easier than economically lifting the country.