EPIC FAIL. More indian bollywood fantasy propaganda again. Coming from the same people that said Pakistan would NEVER EVER become a nuclear weapons state with or without Chinese assistance. That Pakistan would become bankrupt just trying to do so......lol.
I just came back from Pakistan a few weeks ago so I'm fully aware of the ground REALITY of CPEC. All over Pakistan there are massive world class infrastructure and industrial projects going on that were deemed impossible just 2 years ago. And they are all set to grow with the successful initiation of CPEC. Even the poor in Pakistan are enjoying a much better standard of living than ever before. Chinese input, expertise and know how have IN FACT benefitted local Pakistani business and industries in becoming more high tech and reaching world class standards.
You don't know the ground reality.. Public knows a little about the agreements.. China is actually looting you people.. There must be huge corruption involved..
I will point out some facts I know.. Share your knowledge also..
1. Chinese share in CPEC infrastructure development is only $3.8 billions (loan with interest).. $9 billion is spend by Pak govt by its own money.. Did you knew that??
2. This $3.8 billion is loan not grand or aid.. Only grant is $230 million loan for the construction of the Gwadar airport.. But only the Chinese companies will be awarded construction of this important airport. Beijing will select the company. Means this money will flow back to China..
3.Also Gwadar Port Authority (GPA) leased out 2,281 acres of land to the Chinese company responsible for operating gwadar port&this airport.. What this means?? Chinese will operate this airport for years..
4. Now about Gwadar port..As i said above China has signed a deal with Pakistan to acquire the usage rights to more than 2,000 acres of land for a Chinese company..It is a 43-year lease agreement..The contract will let China build an port & it's facilities with full authority to handle the port’s business operations for 43 years.
5. These lands are tax free also.. Loan for the interest of 1.6% are all mimics.. China get a lot from these deals..
6.Now comes power projects.. Actual looting happens here.. Here everybody says this investment is FDI.. Actually it is not FDI.. For example if a country directly invest in other country, that country's currency will gain & forex reserve s will gain.. Because the projects will be done in local currencies.. Central bank will buy dollars and release extra new local currencies. That's how FDI benefits a country's economy.. Do you know what actually happens here?? Here all payments are in dollars.. Chinese bank giving dollars to Chinese companies.. From Chinese companies back to China..
7. In these projects Chinese banks choose Chinese companies to build power plants. Banks directly pay money to these companies. Company imports all equipments & materials from China. Note all these imports are tax free.
8. Like Chinese investments in Africa all tech,expertise & machineries are from China. 75-80 percentage of labour is also from China. A small portion of unskilled Paks get job here..
9. Here these companies dumping obsolete machineries, techs of some coal plants in China. Fooling you people about big resources of Thar coal. Actually That coal reserve quantities are exaggerated..
10. Big assured returns of projects.. Did you know China gets big returns in these projests. They are getting mammoth 27% of total investment as return in just 4 years.. That means interest rate is more than 30% in first 4 years..
11.Chinese companies decides the capital cost & they are doing everything.. But poor Pakistanis will pay for this. No negotiation at all.. Govt compelling Nepra to accept the tariffs Chinese companies saying..
12. Did you knew Chinese firms are protected from circular debt.. That means no matter the projects are loss or profit.. China will get the payments.. GoP assured that guarantee..
13. Security for Chinese workers by the money of poor Pakistanis.. Did you knew capital cost of every projects increased by one percent for the name of security.. That means tariffs will also include this cost. This will increase in future.. 500 million dollars waste..
I will give you many more points.. Will give you links for each of above points.. Do you think anyone will invest so heavily in Pak so that these projects will make profits.. Pakistani's hard erned money will flow out from Pak to China in coming years..
No
