Pakistan mulls taking upfront cost of CPEC projects

[REhorror]

Not looking good tbqh, Pakistan.

 

[Areesh]

When the establishment threw out the PML Government (by literally banning a PM who had 2/3rd Majority) and ensuring that PTI won the elections then they must have the well being of Pakistan in mind. But when the same establishment allows NCV to succeed by not 'coercing' the PTI's 'allies' to support Imran Khan, then they must have done it at the behest of foreign powers.

Literal definition of hypocrisy.

Banning??? That PM ran away after doing a deal. What banning?

Also PML(N) government was kicked out because its PM was busy hijacking plane of his army chief and was tying to force land it in Delhi

And nope establishment didn't ensure PTI won elections. It was people of Pakistan who voted enmasse for PTI just like they are doing now in Punjab and Karachi. On the contrary establishment ensured that PTI doesn't get a clear majority in parliament so that it would have to rely on alliances with parties like MQM

View attachment 873300

They are making shit up that even Chinese are denying

https://twitter.com/x/status/1562385026393804800

Ab tameem bhaag jaye ga

 

[Mav3rick]

All fine and dandy, but when did estab throw out the PML government?

Also as a side note, you need to have 2/3rd members of the total membership of the house...which PML clearly did not have.

At least don't make facts up as you go.

Again, while many of you continue to rope me in on PML matters despite the fact that all I do is tell you all things how they have always been. Not that it means I am a supporter of PML!

Moving on, Nawaz Sharif is the only ex-PM who had won a 2/3rd majority in Parliament (1997) and he was dragged by his hair, slapped and what not. Again, in 2016/17, a case on Panama Papers was registered against the sitting PM who was disqualified for life not on corruption charges but because he potentially could have drawn salary from his son's company!

By banning PML and actively acting against PML, MQM and some other parties and in favour of PTI, what else was it if not ............

Banning??? That PM ran away after doing a deal. What banning?

Also PML(N) government was kicked out because its PM was busy hijacking plane of his army chief and was tying to force land it in Delhi

And nope establishment didn't ensure PTI won elections. It was people of Pakistan who voted enmasse for PTI just like they are doing now in Punjab and Karachi. On the contrary establishment ensured that PTI doesn't get a clear majority in parliament so that it would have to rely on alliances with parties like MQM

He did run away but those on the inside are well aware that he was made to go out when he stood his ground and refused to go. He was convinced by Shahbaz Sharif. Regardless of any of it, he is a coward and that's why he has not returned. Or maybe there is some deal with the establishment. Even in Jail he had Air Conditioner, Fridge, a Chef, a Cleaner, Bed with Mattress, a Desk and Chair etc.

The PM of the country had the power to do all that, if it was illegal then courts should have taken charge of the matter but it was the establishment which took charge. My bias says that the Army did exactly what it should have done and it was good riddance to kick him out of the country. At that time, we rejoiced that we will never have to see Sharif brothers again! But it was all still illegal.

If you really believe that it was the public which voted Imran Khan to many seats including 14 in Karachi in 2018 and that there was no external help and no pre-poll rigging, poll-rigging and post poll coercion to many parties to become 'allies' then well, you live in a different world.

 

[-blitzkrieg-]

ISLAMABAD:
Pakistan is reviewing a proposal to receive upfront 20% of the total cost of five China-Pakistan Economic Corridor (CPEC) projects as deposits in the central bank in a bid to get breathing space amid declining foreign exchange reserves.

The proposal has been discussed at the highest level as the prime minister has given instruction to further fine-tune it, a cabinet minister told The Express Tribune.

He said that at least five CPEC projects were discussed during a meeting, having total estimated value of $7 billion.

As per the proposal, Pakistan can receive at least $1.4 billion in its central bank out of the total cost of $7 billion. In return, these five projects that are facing years of delay will be put on the fast track for implementation.

Pakistan’s gross official foreign exchange reserves have dipped below $8 billion and will get a $1.2 billion boost by the end of this month once the International Monetary Fund (IMF) approves its loan tranche on August 29.

Sources said that Finance Minister Miftah Ismail had some concerns, including over the preferential treatment that those schemes could get in the process, which might also antagonise the IMF.

According to the proposal, the sponsoring Chinese firm will bring 20% of the total cost in US currency and will keep the money in a special account. The Chinese firm can draw the money in Pak rupee for the expenses that it will incur in Pakistan, including paying salaries to the staff.

The proposal had initially been discussed between Pakistani and Chinese authorities before it was discussed with the prime minister this week.

Chinese companies will not be allowed to take back these funds in any shape including for opening Letters of Credit, according to the proposal.

Pakistan is required to borrow $40 billion in the current fiscal year for meeting its external financing needs. The placement of 20% of CPEC projects’ cost can provide some breathing space.

In return, Pakistan will remove hurdles in the way of these five projects, according to the sources.

The projects that were discussed under the scheme were 1,124-megawatt Kohala hydropower project having estimated cost of $2.4 billion, 700.7MW Azad Pattan hydropower project costing $1.6 billion and second phase of 600MW Quaid-e-Azam Solar Park (Bahawalpur) with a price tag of $500 million.

The $2.6 billion Karachi Comprehensive Coastal Development Zone (KCCDZ), which has been included as a project for industrial cooperation under the CPEC umbrella, was also considered as part of the proposal.

The Pipri freight train project was the fifth scheme but it was at the feasibility study stage.

Sources said Pakistan also discussed the possibility of including the $7 billion Mainline-I project but no final decision was made due to serious issues hampering its execution for a long time.

After reviewing the proposal, the prime minister directed the Board of Investment, planning ministry and finance ministry to jointly devise a comprehensive plan to implement the scheme. Prime Minister Shehbaz Sharif has also constituted a committee to deliberate the proposal.

A handout, issued by the PM Office after the meeting, stated that the prime minister was apprised of the investment of $10 billion by companies in the areas of energy, infrastructure, railways and other projects.

“It was told that in the first phase, an investment of $1-2 billion was expected in the projects, which will lead to the creation of 45,000 employment opportunities besides improving the ‘Ease of Doing Business Index’ of the country,” according to the PM Office.

Chinese authorities are irritated because of Pakistan’s decision to put CPEC on the backburner over the past four years. They were particularly irked by Islamabad’s failure to honour its contractual obligations under the CPEC framework.

The establishment of a revolving account has been pending since the signing of the CPEC Energy Projects Framework Agreement in 2014.

In February, a day before departure to China to seek a major bailout, the then government had announced that it would open the account. But when a summary was presented to the Economic Coordination Committee (ECC) for approval on April 1, 2022, then finance minister Shaukat Tarin deferred the final approval.

This week, the government decided to abolish the CPEC Authority, subject to the Chinese consent. PM Shehbaz has instructed that China should first be taken into confidence before going ahead with the move to ensure that the strategic ally does not get the impression that Pakistan is rolling back CPEC.

The CPEC Authority Act will be repealed once the Chinese authorities give their consent. The old institutional arrangement that helped the implementation of CPEC projects from 2014 to 2018 will be revived.

Published in The Express Tribune, August 21st, 2022.

Pakistan mulls taking upfront cost | The Express Tribune

Under a proposal, upfront cost of CPEC projects will be acquired to boost reserves

tribune.com.pk

August 29th is important.. mark ur calendars.. khans March will come right after it likely.

 

[Tameem]

They are making shit up that even Chinese are denying

https://twitter.com/x/status/1562385026393804800

View attachment 873300

https://twitter.com/x/status/1562387259072172032

Yes Mr Tameem, any wise comments on the above? Ya aap phir conveniently ghayeb ho jayen gay?





All fine and dandy, but when did estab throw out the PML government?

Also as a side note, you need to have 2/3rd members of the total membership of the house...which PML clearly did not have.

At least don't make facts up as you go.

I actually find comments from Indians more hilarious here….adding in their one liners thinking they know more about Pakistan

What am I to do with this?

The comment by the putwari was that PTI did haram to point out that there was corruption in CPEC. Anyone with a droplet of common sense would know this is infact true.

To those putwaris I ask. Where is the $20Billion that Pakistan was going to get yearly in tolls from trucks moving from Gwadar/Karachi to the Khunjerab Pass?

The entire f-ing world is using Freight Rail to transport goods across their country. The ever smart Albert Einsteins of Pakistan are using imported gas/diesel on roads.

@Tameem

OK, Here is your "Spoon-Feeding"


This was the basis back in September 2018 as controversy starts in DW report.

China is reportedly irked by the new Pakistani government's criticism of the multibillion-dollar China-Pakistan Economic Corridor (CPEC) initiative in the South Asian country.
Abdul Razak Dawood, Pakistan's minister for commerce, industry and investment in Prime Minister Imran Khan's government, last week suggested that all CPEC projects could be suspended until a review is completed.
"I think we should put everything on hold for a year, so we can get our act together," Dawood told the Financial Times in an interview. "Perhaps we can stretch CPEC out over another five years or so."
Dawood also criticized the previous government headed by Nawaz Sharif, who is now incarcerated on corruption allegations, for granting China "too favorable" terms on many projects.
"Chinese companies received tax breaks, many breaks and have an undue advantage in Pakistan; this is one of the things we're looking at because it's not fair that Pakistani companies should be disadvantaged," Dawood said.
Later, Dawood "clarified" to a local TV channel that his remarks about CPEC had been taken out of context.

Pakistan's U-turn on China's economic corridor? – DW – 09/18/2018

China is reportedly irked by the new Pakistani government's criticism of the multibillion-dollar China-Pakistan Economic Corridor (CPEC) initiative in the South Asian country. But can Islamabad afford to offend Beijing?

www.dw.com

As ususal General Bajwa comes to the help of new govt and visit China in September 2018 prior to PM IK visit in November 2018. But IK returned from China visit "empty handed" as analyst argues.

After two years of dilly delaying on contractual accords with China, PTI govt finally makes CPEC Authority in big fanfare in year 2020 and appoint controversial Asim Saleem Bajwa its Chairman. Chinese didn't like this person, neither the authority he make chairman of and the snail pace on CPEC continues until ASB too needs to resign from his post. After his resignation no one appointed next chairman of the authority by PTI for quite sometime, it shows how serious "CPEC" was under PTI Govt becomes.

This PDM Govt finally abolish "CPEC Authority" altogether in accordance with the Chinese nod's,
"The Chinese authorities were irritated because of Pakistan’s decision to put CPEC on the backburner during the past four years. They were particularly irked by Islamabad’s failure to honour its contractual obligations under CPEC framework."

PM gives nod to abolish CPEC Authority | The Express Tribune

China will first be taken into confidence before going ahead with move

tribune.com.pk

 

[Areesh]

He did run away but those on the inside are well aware that he was made to go out when he stood his ground and refused to go. He was convinced by Shahbaz Sharif. Regardless of any of it, he is a coward and that's why he has not returned. Or maybe there is some deal with the establishment. Even in Jail he had Air Conditioner, Fridge, a Chef, a Cleaner, Bed with Mattress, a Desk and Chair etc.

Despite all mental gymnastics you accepted that he was/is a coward

Good

The PM of the country had the power to do all that, if it was illegal then courts should have taken charge of the matter but it was the establishment which took charge. My bias says that the Army did exactly what it should have done and it was good riddance to kick him out of the country. At that time, we rejoiced that we will never have to see Sharif brothers again! But it was all still illegal.

Never knew hijacking is legal for Prime Ministers in Pakistan

If you really believe that it was the public which voted Imran Khan to many seats including 14 in Karachi in 2018 and that there was no external help and no pre-poll rigging, poll-rigging and post poll coercion to many parties to become 'allies' then well, you live in a different world.

I can understand your pain that forces you to not to accept the simple fact that Imran Khan has overwhelming genuine support from people of Pakistan and same was the case in 2018

You can remain in your delusions that Imran Khan has no public support and it is all establishment behind him

We know the particular reason behind your refusal to accept the fact and reality on ground

 

[Chat SAMOSA]

The entire f-ing world is using Freight Rail to transport goods across their country. The ever smart Albert Einsteins of Pakistan are using imported gas/diesel on roads.

@Tameem

Key question this. Why wouldn't it be intermodal with stress on rail cargo that'd use coal (assuming Pak has local coal)

 

[Mav3rick]

Despite all mental gymnastics you accepted that he was/is a coward

Good



Never knew hijacking is legal for Prime Ministers in Pakistan



I can understand your pain that forces you to not to accept the simple fact that Imran Khan has overwhelming genuine support from people of Pakistan and same was the case in 2018

You can remain in your delusions that Imran Khan has no public support and it is all establishment behind him

We know the particular reason behind your refusal to accept the fact and reality on ground

All politicians are cowards, that is a fact. They are not revolutionaries.

I can accept that Imran Khan has genuine support today, so much so that he can give tough time to all opposition parties. But in 2018, that was not the case.

 

[Areesh]

I can accept that Imran Khan has genuine support today, so much so that he can give tough time to all opposition parties. But in 2018, that was not the case.

Well he had very genuine public support in 2018 too but I know you won't accept it so yeah whatever

 

[Catalystic]

Well he had very genuine public support in 2018 too but I know you won't accept it so yeah whatever

bhai support tha b lekin end result to wohi nikla jiska khan ko kuch faida na ho saka, ended up minority. Support aj b sabse zyada but at the end…..result matters aur wo abi tak favor mei nai ha….aur mujhe majority milti b nazar nai ati…wohi hoga jo pehle hota raha…..uska kya faida?

Thing is….can u guarantee the results even after this gigantic support ?? Will the system allow?

 

[Jango]

Again, while many of you continue to rope me in on PML matters despite the fact that all I do is tell you all things how they have always been. Not that it means I am a supporter of PML!

I accused you of no such thing here. You are the one who posted something about PML!

So let me get this straight. You write a post regarding PML and state some things as facts, but then say that we are roping you into PML matters?

Moving on, Nawaz Sharif is the only ex-PM who had won a 2/3rd majority in Parliament (1997) and he was dragged by his hair, slapped and what not. Again, in 2016/17, a case on Panama Papers was registered against the sitting PM who was disqualified for life not on corruption charges but because he potentially could have drawn salary from his son's company!

What you wrote in the original post implied he had 2/3rd majority after 2013. I didn't know you were talking about laila majnu ka zamana.

As for the case itself, the first verdict was 3-2, with 2 judges saying that he was dishonest and untruthful from the start. The other 3 said that there needs to be more investigation into the matter. Although I do not quite agree with the weak judgement (there were plenty of other points of law on which he could be disqualified and sentenced), you make it conveniently seem jaisay aur kuch bhi nhn mila tha and they only disqualified him based on this salary.

Did NS tell where he got the money from to buy the flats? No. Did he remain consistent in his ownership claims about the flats? No. Why would you constantly change your posiiton on ownership if you did indeed buy it through honest means? Did NS declare them as his assets? No. That is the fundamental question behind it all.

By banning PML and actively acting against PML, MQM and some other parties and in favour of PTI, what else was it if not ............

PML was never banned, get your facts right.

 

[Thəorətic Muslim]

"Chinese companies received tax breaks, many breaks and have an undue advantage in Pakistan; this is one of the things we're looking at because it's not fair that Pakistani companies should be disadvantaged," Dawood said.

It's funny you think you're "pawning" me or something when your own source is in direct support of my statement.

When a country has signed contracts that they'll get XYZ as their returns why in the world would they renegotiate and take only X?

This is what Imran Khan learned when he visited China. And you can see how that visit reflects on every other question fielded to him concerning China. The Chinese prefer discussions in private.

But like I said before. Why hire a prostitute to give you a blowjob when there's a willing prostitute that will pay you to give you a blowjob?

Key question this. Why wouldn't it be intermodal with stress on rail cargo that'd use coal (assuming Pak has local coal)

When I said gas/diesel I was referencing the fuel for trucks to transport from Gwadar/Karachi to the mountains of KPK or plains of Punjab. The usage of such transport is an unnecessary strain on Pakistan's already debilitated exchange.

A single freight train can remove almost 100+ trucks on 1/50 of the same fuel. No country ever got rich by using trucks as primary means of transport.

 

[doorstar]

First IK/PTI Govt enraged China by finger pointing corruption in CPEC for no reason except political vendetta,

no no no, either you are a liar or an ignorant pujari of the fat pandit the chor e ahzam.

moron e ahzam was backed in 2018 on the understanding that he will front the prosecutions of chor league members after it was discovered that the fat chor had stolen over 4 billion dollars from the first batch of CPEC projects (with assistance from the China based lenders). but when moron became the PM he went after China (verbally to create modi teli and shah style soundbites/jumla baazi for the domestic, idiotic masses: main nahin chhoroon gaa) instead of allowing the elimination of Pakistani crooks he just used junla-baazi every week or so: main nahin chhoroon gaa).

when some one asks can we shoot dead the terrorists during arrest (because the crooked and or terror loving judges keep freeing them)? yes, but after the first such event he backs out (social media and youtubers won't love him no more)

can we eliminate mass killer/drug dealer during arrest? no, just arrest him. then frees him cuz ARY thinks it's a stitch-up (cuz handsome me needs to be seen as the most just Imam/amir al mominin ever)

Chinese had promised to investigate then eliminate the crooked bankers as well as compensating Pakistan and asked Pakistan to keep it from becoming public knowledge (and the wanna be imaam e ahzam was made aware of that prior to becoming PM).

but as we know moron e ahzam knew everything better than everyone else (mujh ko sub mahloom hai, merai sai ziada koi nahin janta, mujh ko koi kaam nahin do, mujh ko supreme leader banao, mujh ko trump jaisa sadr banao, mujh ko Xi banao, mujh ko OIC ka prime leader banao varna main apni new OIC bana loon gaa, mujh ko mohammed bin salman vaali powers do agar nahin to main boloon gaa k tum amreeka k sath ho.

.