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China provides ‘high-performance tracking system’ for Pakistan’s missile programme

China has sold Pakistan a powerful tracking system in an unprecedented deal that could speed up the Pakistan’s missile programme and military’s development of multi-warhead missiles, according to South China Morning Post.

News of the sale to Islamabad – and evidence that Beijing is supporting rapidly developing Pakistan’s  missile programme – comes two months after India tested its most advanced nuclear-ready intercontinental ballistic missile (ICBM) with a range long enough to hit Beijing or Shanghai, the article in the Chinese daily observes.

According to the publication, Chinese authorities declassified information about the deal on Wednesday.

A statement on the Chinese Academy of Sciences (CAS) website said China was the first country to export such sensitive equipment for high performance tracking system for Pakistan’s missile program.

Zheng Mengwei, a researcher with the CAS Institute of Optics and Electronics in Chengdu, Sichuan province, confirmed to the South China Morning Post that Pakistan had bought a highly sophisticated, large-scale optical tracking and measurement system from China.

Alarming arms race among Pakistan, India and China

The country’s military recently deployed the Chinese-made system “at a firing range” for use in testing and developing its new missiles, he said.

India’s January 18 test of its Agni-V ICBM, with a range of more than 5,000km (3,100 miles), is seen as a message that the country can deploy a credible nuclear deterrent against China, and Beijing is determined to counter it.

While the Hindu-majority country’s single-warhead missiles are bigger and cover longer distances, Pakistan has focused its efforts on developing multiple independently targetable re-entry vehicles (MIRVs), a type of missile-carrying several nuclear warheads that can be directed towards different targets.

The US Defence Intelligence Agency officially confirmed in March that Pakistan conducted the first test launch of its nuclear-capable Ababeel missile in January 2017, “demonstrating South Asia’s first MIRV payload”.

China’s multi-nuke missile capable of striking anywhere in world to be ready soon

Although the Ababeel missile has a range of only 2,200km, it can deliver numerous warheads to different targets. The technology has the potential to overwhelm a missile defence system, wiping out an adversary’s nuclear arsenal in one surprise attack.

SOURCE: https://tribune.com.pk/story/1666541/9-china-provides-high-performance-tracking-system-pakistans-missile-programme/

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China to Train Pakistanis in Space Technology

For the first time, China is going to admit foreign students in its aerospace institute, including some from Pakistan. Pakistani students will get trained at China’s Space Technology Institution for the first time ever.

China will now concede outside understudies in its aviation organization. A total of eight foreign students from the following countries were given confirmation in Shenzhou College of Space Technology:

  • Pakistan
  • Kazakhstan
  • Cambodia
  • Venezuela
  • Belarus

A ceremony was held in Shenzhou College, which comes under China Academy of Space Technology, to welcome the students.

The Master’s degree in Aerospace Science program consists of a two-year course.

Space Science professor Jiao Weizix of Pecking University told,

“China’s aerospace industry technology is comprehensive, especially its satellites for navigation, communication and meteorology, a field in which China can and would like to help other countries cultivate talent. The enrollment of foreign students also proves that China’s technology in the field has made a huge progress during the past years.”

China Academy of Space Technology already cooperates with Pakistan, Algeria, Venezuela, Nigeria, and Ethiopia under the Know-How project.

Jiao added that the initiative will help in building China’s global image as well,

“China used to receive help from countries such as the former Soviet Union and now is able to help others, which is also good for China in building its international image.”

China and Pakistan recently partnered to launch a communications and remote sensing satellite in 2018 as well. China will also help Pakistan Airforce by equipping the world’s most advanced radar system in the JF-17 Thunder Jet Fighter.The CPEC Cultural Communication Centre (CCC) under its ‘Talent Corridor’ scheme is also offering one-year vocational training to Pakistanis.

SOURCE: https://propakistani.pk/2018/03/30/china-to-train-pakistanis-in-space-technology/

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Pakistan and China to Launch a Communication Satellite for DTH Services

Pakistan and China have signed an agreement for development and launch of communication satellite PakSat Multi-Mission Satellite (PakSat-MM1).

The communication satellite already arrived at Pakistan’s geostationary orbital location of 38.2° East on 27th February. The satellite will primarily function as a communication satellite with the capability to provide Direct-to-Home (DTH) services.

According to the press release by the Planning, Development and Reforms ministry, China Great Wall Industry Corporation (CGWIC) and Pakistan will equally divide the satellite development and launch cost between them.

Ahsan Iqbal, Minister for Planning, talking on  the ceremony said;

“One important element of this contract (PakSat-MM1) is that both … sides are contributing 50%. It is a joint-effort of both countries that makes it (PakSat-MM1) even more valuable.”

Space & Upper Atmosphere Research Commission (SUPARCO) and CGWIC signed the contract in the presence of several Chinese and Pakistani officials.

Ahsan Iqbal, while talking to the media, told that SUPARCO is working on two other satellites as well, apart from PakSat-MM1.

He added that Pakistan Remote Sensing Satellite (PRSS-1) is Pakistan’s first ever low-earth orbit (LEO) earth observation satellite with a service life of 5 years. According to the minister, PRSS-1 will be launched this year.

Originally, SUPARCO proposed the PRSS-1 project to have two satellites onboard. One satellite was said to have Electro-Optical (EO) system while the second was visioned to be equipped with Synthetic Aperture Radar (SAR).

SUPARCO is developing another satellite as well that will be solely produced and launched by SUPARCO engineers. Talking about this project, Ahsan Iqbal told;

“Pakistan Technology Evaluation Satellite-1A (PakTES-1A) is an indigenous project from concept till launch by SUPARCO engineers and scientists.”

Ahsan Iqbal, Chairman SUPARCO Qaiser Anees Khurram, Officials from CGWIC, and the Ambassador People’s Republic of China Mr. Yao Jing witnessed the groundbreaking ceremony.

Source: https://propakistani.pk/2018/03/28/pakistan-and-china-to-launch-a-communication-satellite-for-dth-services/

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Rupee value to increase due to CPEC: Ahsan Iqbal

LAHORE: Federal Interior Minister Ahsan Iqbal said a new middle class market will emerge in Pakistan as the country achieves the gross domestic product (GDP) growth target of 6%.

He added that the value of the Pakistani rupee, which recently plunged over 9% against the US dollar due to a bulging current account deficit, is likely to increase due to investments in the China-Pakistan Economic Corridor (CPEC).

While addressing the ‘Think and Grow’ summit, he said investors from Europe, Middle East and other parts of the world would start businesses in Pakistan, which will create a positive impact of CPEC on their economy. The summit was hosted by the University of Management and Technology, Lahore in collaboration with the Pakistan Industrial Technical Assistance Centre and the Centre of Excellence CPEC.

Govt uses ‘best tool in hand’, allows rupee fall

 Iqbal said that CPEC would be completed by 2030 in three phases. In the first phase of CPEC, energy and physical infrastructure would be developed by 2020, he said, adding that the roadmap for the formation of a National Internal Security Policy (NISP) is centred on goals defined in Vision 2025, which envisage sharing peace, stability and development.

Speakers at the summit called for actively engaging the Pakistani workforce in CPEC in order to provide them first-hand knowledge, experience and engineering being applied by Chinese experts.

They said once the project is fully functional in 2030, foreign direct investments in key areas are likely to pour into Pakistan, resulting in greater opportunities for both countries.

Addressing the summit, UMT Chairman Dr Hasan Sohaib Murad said CPEC is a beacon of hope.

He said current business models need to be replaced with new and innovative ones in order to oversimplify the business culture and attract more locals to take the risk of investment.

Source: https://tribune.com.pk/story/1674289/2-rupee-value-increase-due-cpec-ahsan-iqbal/

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Report: China, Belt and Road countries trade volumes totals to $1.1tr

According to a new report, between China and countries along the Belt and Road, trade volume added to $1.1 trillion in 2017, up 14.8 percent year-on-year, which is 3.4 percentage points higher compared to the growth of the country’s total foreign trade.

The Belt and Road initiative, proposed by Chinese President Xi Jinping in 2013, basically refers to building a Silk Road Economic Belt and the 21st Century Maritime Silk Road. It has been well recieved by over 140 countries and regions in the last 5 years span.

Over the past five years, the initiative has been positively echoed by over 140 countries and regions, and fruitful cooperation achievements have been yielded under its framework.

Praising a more diversified investment portfolio, the minister said that China had altogether invested over $60 billion to on-route countries in various sectors such as agriculture, manufacturing and infrastructure. According to the report, various projects were making good progress too. It includes the construction of railways, energy, expressways, ports and resources and the operation of manufacturing projects.

China has established 75 zones for economic and trade cooperation in countries along the routes, with a total investment of more than $27 billion.

The minister said the Belt and Road should be built into a road of peace, prosperity, opening up as well as innovation, and one that connects different civilizations.

For the next step, the ministry will launch new cooperation platforms including the first China International Import Expo, build major investment and foreign aid projects and make them well received like shiny pearls along the Belt and Road.

China will also support e-commerce through big data, promote the liberalization and facilitation of trade and investment along the Belt and Road and implement major foreign aid projects.

SOURCE: https://pakobserver.net/china-belt-and-road-countries-trade-volumes-amounted-to-1-1tr/

 

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CPEC progress and its critics

The China-Pakistan Economic Corridor (CPEC) is the main focus of the 10th annual report issued by the Lahore-based Burki Institute of Public Policy. The programme is still not fully formed; it will develop as its implementation proceeds. Economists call this way of developing a programme, ‘learning by doing’. The only other foreign-funded programme of approximately this size implemented by Pakistan was the Indus Waters Replacement Works. In current dollar terms, it was as large as CPEC but its overall aim was more limited. It was designed to replace the water from the Indus River System that India was allowed to use for its own development. CPEC has come to Pakistan not that well formed. It will develop over time in a situation that will be highly dynamic.

To realize its full potential, the large CPEC programme must have the support of the entire citizenry. With highways, railways, ports, power plants and industrial estates, there will hardly be a part of Pakistan the CPEC programme will not touch. It will profoundly change the structure of the country’s economy and alter the lives of all people. There are, therefore, good reasons to explain to the citizenry what will be the consequences for them of the initiative when, in terms of implementation, it has achieved a degree of maturity.

Given the reach of the programme and the fact that it is sponsored by the country that now has the world’s second-largest economy, there is reason to believe that some of China’s rival powers are attempting to throw blocks in the way as the initiative proceeds. Some of what we have begun to hear and read in newspaper coverage uses phrases that were manufactured abroad and exported to Pakistan. One repeatedly comes across statements that the programme has been launched to colonise Pakistan; that the ultimate aim of the Chinese enterprises and thousands of their employees who have entered the country has a historical precedence, the British East India Company that came in the 18thcentury to trade but stayed on to rule; that through the programme, China is engaged in achieving its aim of global domination without any interest in promoting Pakistan’s progress. This kind of talk is aimed to instill fear into Pakistani hearts. We must guard against this reading of the initiative and ride over the obstacles that are being thrown in the way of the programme’s successful implementation.

Competition among Chinese companies

Given the size of the China-financed programme and its dynamic nature, it has arrived in Pakistan not fully defined and developed. Its content and scope will change as it progresses. All the governments involved in developing and implementing this vast enterprise — the governments in Islamabad and Pakistan’s provincial capitals as well as the one in Beijing — will build on the programme’s successes. They will also work to mitigate the problems as the implementation of the programme proceeds. But it should be emphasised — as the Burki Institute’s report does — the programme will bring about positive change in Pakistan. The term we have used in many places in the report is that it will be a ‘game changer’ for Pakistan. It will add possibly as much as two percentage points to the growth rate in Pakistan’s GDP. If that does occur, Pakistan’s economic growth trajectory will begin to match that travelled by China and the ‘miracle’ economies of East Asia.

CPEC will bring about greater integration of Pakistan’s backward areas with those that are more developed. We can expect considerable narrowing of the per capita income gap between the provinces of Balochistan and Khyber-Pakhtunkhwa, on the one hand, and Punjab, on the other. This will happen in part by taking the sector of agriculture towards the production of higher-value products such as fruits and vegetables. These would be processed and exported to western parts of China that don’t have the local capacity to provide for the anticipated increase in their population.

Sheer size of CPEC portfolio appals IMF

China also has a growing appetite for livestock products, a sector that has done well but remains relatively underdeveloped in Pakistan. Supplying meat, milk and milk products to western China could help this sector to grow. Since women are actively involved in this sector, its development would help increase their income and independence.

The CPEC initiative will link Pakistan with the global economic system from which it has remained relatively detached. One way this initiative could bring Pakistan’s economy closer to that of the rest of the world is by making the country’s small engineering enterprises enter the supply chains to feed into the production of final products. The global automobile industry is a good example of the way parts and components manufactured in different parts of the world get used to produce the final product. The large car and truck-manufacturing industry in the United States is heavily dependent on the parts made in Mexico. China is now on the way to becoming the world’s largest automobile manufacturer. It too could import parts made in Punjab’s ‘golden triangle’ bounded by the cities of Lahore, Gujranwala and Gujrat.

Pakistan’s latest shot at industrialization under CPEC needs homework

These are some of more important outcomes of the CPEC initiative which we should take into account while planning for the country’s future. We should also recognize that there are foreign interests that are interested in derailing the programme. The attempts that are being made should be understood in terms of what they are. They have been launched to hurt Pakistan while attempting to keep China out of the strategic area of which Pakistan is an important part.

Source: https://tribune.com.pk/story/1663755/6-cpec-and-its-critics/

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Stability in Pakistan integral to China’s development, reiterates Chinese ambassador

LAHORE: Ambassador of People’s Republic of China to Pakistan Yao Jing has said that China cannot afford to lose Pakistan because stability in its neighbourhood is integral to China’s development.

He made these remarks while speaking at an interactive policy dialogue organized by Lahore Centre for Peace Research (LCPR) on the topic ‘Pakistan-China Relations in the 21st century’, which was arranged in his honour, said in a press release issued on Saturday.

In his keynote speech, the Ambassador of China emphasised that Pakistan matters to China’s vision of development and growth as enshrined in last year’s 19th China’s Communist Party Convention.

Chinese ambassador meets CJP

He said that Pakistan’s importance to China would continue to increase because of the centrality of the China Pakistan Economic Corridor (CPEC) route in the Belt and Road Initiative(BRI). Yao added that a stable Pakistan was vital to China’s growth.

The Ambassador reminded the distinguished gathering that China envisages CPEC to be a lead project for connectivity and peace.

He stated the project was not only for the benefit of Pakistan and China as “ownership of CPEC finally belongs to the whole world”.

Earlier, Ambassador Shamshad Ahmed Khan, former foreign secretary and currently Chairman Lahore Center for Peace Research, highlighted the unwavering commitment of Pakistan and China’s leadership to build stronger economic and social ties between the two countries.

CPEC projects: Chinese ambassador urges active participation

He emphasised that China’s relations with Pakistan were not based on transient interests but have remained unconditional. He also noted that China’s Belt and Road Initiative (BRI) is a huge regional agenda with mutual interests rooted in China’s and Pakistan’s common vision for a better future and prosperity of the region.

“Rooted within BRI is China-Pakistan Economic Corridor (CPEC) initiative that harbours economic prosperity for greater benefit of the entire region,” he remarked.

Khan praised the Chinese leadership in promoting world-wide connectivity for socio-economic development and reiterated that Pakistan was also determined in its commitment to support CPEC.

The event was also attended by the Chinese Consul General Long Dingbin, former Finance Minister, Dr Salman Shah, former Pakistani diplomats and notable defense analysts, as well as people from the academia.

 

Source: https://tribune.com.pk/story/1662661/1-stability-pakistan-integral-chinas-development-reiterates-chinese-ambassador/

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Extending CPEC to Afghanistan

Many believe that Afghanistan’s involvement in CPEC, even if only modest, can be a big confidence-building measure for an Afghanistan-Pakistan relationship which has been tense for quite some time now. In the long run, through Afghanistan, China is planning to gradually connect the CPEC with the China-Central and Western Asia Economic Corridor.  China is confident   about Afghanistan’s joining CPEC. According to Chinese Foreign Minister, as an   important neighbor of China and Pakistan, Afghanistan has an urgent desire to develop its economy and improve people’s livelihood and it is willing to integrate itself into the process of regional interconnection.

On February 28, 2018, Afghan President Ashraf Ghani while speaking at a peace conference in Kabul offered peace talks “without preconditions” to the Taliban after 16 years of war. He also declared that his government wants to make a fresh start as far as relations with Pakistan are concerned. The offer called for a ceasefire, an exchange of prisoners and included a promise to extend official recognition of the Taliban as a legitimate political group as well as including the group in the political process and review of the country’s Constitution. What Afghan President has offered can form a basis of significant and substantive peace process that could lead to restoration of durable peace and stability to war-torn Afghanistan. It is, perhaps, for the first time that no pre-conditions have been attached to talks with the Taliban.  From Pakistan’s perspective peace in Afghanistan is very important for smooth regional connectivity of CPEC.

China has played a critical role in bringing a change in Afghanistan’s attitude towards Pakistan and the Taliban. On December 26, 2017, the first China-Afghanistan-Pakistan Foreign Ministers’ Dialogue was held in Beijing. The two most important takeaways from this trilateral dialogue were Beijing’s readiness to play a constructive role in improving Afghanistan-Pakistan relations and decision on extending the China-Pakistan Economic Corridor (CPEC) to Afghanistan.

One of the main objectives of China to extend CPEC connectivity to Afghanistan is to create   conducive environment for regional connectivity in the broader perspective of its Belt and Road Initiative. The CPEC could help Afghanistan reduce its dependence on foreign aid as well as provide both Kabul and Islamabad with an opportunity to improve ties. Trilateral cooperation between Pakistan, Afghanistan and China on Belt and Road would benefit all three countries. Pakistan considers China’s enhanced involvement in Afghanistan as a stabilising factor to counter the negative fallout of Indian influence in Afghanistan. On the contrary, India might be alarmed by the extension of CPEC to Afghanistan.

For a landlocked country like Afghanistan, CPEC is of vital importance in geo-strategic sense. With the extension of CPEC to Afghanistan, the country can become a major beneficiary of this project as in future the corridor will contribute to the economic development of this brittle country by enhancing economic activities in the area which can put the fragile economy of Afghanistan on a sound footing.

There are several connectivity projects that Pakistan, China and Afghanistan can undertake.  The important road projects that may be included in the CPEC connectivity to Afghanistan are: 265 km Peshawar to Kabul motorway and the road   link connecting western alignment of CPEC to Afghanistan by linking Chaman to Kandahar, Mazar-i-Sharif  to Termez near the border of Central Asian countries. This route will provide an easy and short access to Afghanistan to reach the sea port of Gwadar which is almost 600 kilometres shorter than the existing transit route being used by the traders and people of Afghanistan This connection will integrate Afghanistan with other regions and also allow her to start commercial activities through the Indian Ocean.

CPEC is bringing industrialization and investment to Pakistan, the carry-over effects of which will benefit Afghanistan as well. Pakistan has already undertaken the building of several roads to improve connectivity between the two countries. The 75 km Torkham-Jalalabad road is one of them while the Peshawar-Torkham road is another. These developments have faced considerable completion challenges; they are a step toward increasing connectivity with Pakistan and, in turn, gaining Afghan access to CPEC.  A railway track may be built between Torkham and Jalalabad in Afghanistan to facilitate China to use the Pakistan Railways network to transport goods and equipment for the development of copper mines and various other projects in Afghanistan. Separately, Pakistan Railways has completed a feasibility study for a rail section between Chaman and Kandahar, a part of a proposed link across Afghanistan to Turkmenistan.

China can expect a lot of economic benefits by investing in Afghanistan. Such investments will strengthen Chinese projects in Pakistan, and also help China to access natural resources in Afghanistan. Afghanistan also has the abundant potential of hydroelectricity which Chinese companies can tap and sell in Pakistan. For instance Pakistan and Afghanistan are moving towards the joint management of common rivers starting with construction of a 1,500MW hydropower project on Kunar River — a major tributary of Kabul River contributing almost 13 million acres feet (MAF) annually to Pakistan. China may help them in completing this project. Further the extension of CPEC to Afghanistan may help in identifying projects relating to communications, railways, transit trade and the power sector.

Central Asian Region being physically attached to Wakhan Corridor, Pakistan can utilise its value by linking the corridor with its northern highlands most suitably along the Chitral River and improvement of existing route from Chitral to Afghanistan. This 250 km long route should start from Broghal Pass linking Mastuj, Booni, and Chitral and should link Afghanistan.  The proposed route will serve as subsidiary to Karakorum Highway for China and Pakistan as an instrument re-driving influence of India in Afghanistan.

The northeastern Badakhshan province of Afghanistan is bordering China, Pakistan and Tajikistan through Wakhan Corridor. The province has large scale natural resources such as Azure, Gold, Ruby and Diamond mines in addition to Copper and Iron.  Pakistan and China can help Afghanistan in exploring these natural resources. Construction of the Lowari tunnel will turn the Wakhan corridor into an all-weather route for connecting Pakistan with Afghanistan and Turkmenistan.

China is keen on accessing Afghanistan’s large reserves through its state-owned enterprises (SOE), and has the monetary resources to invest in developing the infrastructure for procurement. As such, Afghanistan should be open to such investments and operating deals, which will benefit the country in the long run. In addition, such a move will bring forth much needed foreign direct investment (FDI) to the cash-strapped country.

There are already some investments from Pakistan to build connecting roads, as mentioned above. Afghanistan should focus its attention on finishing the stalled projects and building confidence in the country’s ability to complete existing infrastructure undertakings. To develop the small-scale energy and transportation industries that could easily fit into the CPEC structure once Afghanistan joins. In this respect the government of Afghanistan has taken a right step of offering peace talks to the Taliban.  Any positive development in Afghanistan’s relations with Pakistan and initiation of peace talks with the Taliban may create a favorable environment for investment in CPEC connectivity projects in Afghanistan.

Source: https://pakobserver.net/extending-cpec-afghanistan/

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Pakistan in talks with China to borrow $1b

ISLAMABAD: 

Pakistan is in talks with a Chinese financial institution to obtain $1 billion as a foreign commercial loan, as its recent internal assessment revealed that inflows from traditional lenders would fall below budgeted projections.

The World Bank and the Asian Development Bank (ADB) have already withheld $700 million as balance of payments’ policy loans due to deterioration in macroeconomic indicators in the past one year.

Pakistan borrows another $500m from Chinese bank

Amid declining foreign exchange reserves, the government is now in the process of scrutinising the loan term sheets and the agreement is expected to be reached this month, said sources in the finance ministry. The country has already obtained $1 billion as foreign commercial loan from the Industrial and Commercial Bank of China (ICBC) in the past three months.

The cost of borrowing from the Chinese bank could go over 5% this time due to increase in the London Interbank Offered Rate (Libor), said the sources. The six-month US dollar Libor was 2.228% on March 2, which would push the overall borrowing cost for the government in the range of 5.1% to 5.3%, said the sources. Last year, the Libor remained around 1.5%, which kept commercial borrowing cost below 5% for most of the deals.

During the last fiscal year, the government had also borrowed $2.3 billion from three Chinese financial institutions at three- to six-month Libor plus 2.7% to 3.02% spread, according to the finance ministry publication.

In addition to the upcoming borrowing, the government is also expecting to receive $200 million from a Chinese bank immediately to support foreign currency reserves, said the sources. The State Bank of Pakistan’s (SBP) official foreign currency reserves slipped to $12.4 billion last week, which are now close to the minimum threshold of two and half months of import bill cover.

For the last four years, the government has shifted its focus towards easy but relatively expensive source of financing. These commercial deals normally do not get much public attention, unlike the case of foreign bonds.

The decision to get $1 billion has been taken after the government last month called off the $1-billion Eurobond issue, said the sources. The government was ready to float bond but reversed the decision after financial advisers informed it that the ten-year bond may cost it 7.3%, said the sources.

In November, the government generated $1.5 billion through the 10-year Eurobond at a fixed rate of 6.875%, which was 455 basis points above the corresponding 10-year US Treasury benchmark rate. Since the start of the current fiscal year, total foreign commercial borrowings have already surged to $1.8 billion – far higher than $1 billion budgetary estimates.

Financing requirements

Last month, the Ministry of Finance informed the National Assembly Standing Committee on Finance that its gross external financing requirements for the remainder of this fiscal year were $9.5 billion.

The $9.5-billion financing requirement for February-June period has been worked out on the assumption of a possible $7-billion current account deficit and $2.5-billion debt servicing cost.

Total gross financing requirements for the fiscal year have now been revised upward to $24 billion as against the earlier estimates of $17 billion.

It had also informed the panel that the government was expecting $3.8 billion from traditional multilateral and bilateral lenders. However, a fresh assessment by the finance ministry over the weekend revealed that lending from the World Bank, the ADB and Islamic Development Bank would fall short of budgeted projections.

Against the budgetary estimates of $1.228 billion, the ADB is now expected to disburse around $925 million, said the sources. The Manila-based lender has already disbursed $498 million for projects’ financing in the first seven months. It dropped $200 million energy loan.

Despite promises, Pakistan unlikely to get heavy funding by June

The World Bank is now expected to give only $790 million even after making some extra efforts, which was far below the budgetary estimates of $1.2 billion. The World Bank has already disbursed $289 million in the July-January period but withheld $500 million policy loan.

Lending from China could increase to roughly $1.9 billion, which will partially compensate for the shortage, said the sources.

The Islamic Development Bank has already extended $995 million and its disbursements would remain below the target due to expiry of the crude oil financing agreement, said the sources.

Source: https://tribune.com.pk/story/1651922/2-pakistan-talks-china-borrow-1b/

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Foreign governments should treat Chinese investments fairly: SASAC chief

BEIJING: Foreign governments should treat Chinese firms’ investments in their respective jurisdictions fairly, Xiao Yaqing, the head of China’s state assets regulator, said on Saturday amid growing scrutiny in some markets, including the United States.

The US government has blocked several high-profile deals in recent months amid rising trade tensions between Beijing and Washington, while European leaders agreed last year to consider screening investments by state-owned Chinese firms.

Source: https://profit.pakistantoday.com.pk/2018/03/10/foreign-governments-should-treat-chinese-investments-fairly-sasac-chief/