Beijing, June 27: The construction of the $50 billion China-Pakistan Economic Corridor+ has been affected in the short run due to India’s objections, a report in the state-run Chinese media said. It added that if Beijing and Islamabad are firm in their cooperation, they can dispel New Delhi’s doubts.
India is protesting+ against the CPEC as it passes through Pakistan-occupied Kashmir (PoK. “Some people believe obstruction by India may become a stumbling block to the development of the China Pakistan Economic Corridor (CPEC),” an article in the official daily Global Times said.
In fact, India’s “rejection” is mainly because the corridor passes through the Pakistan-occupied Kashmir+ . The corridor’s construction may be affected in the short term, but from a long-term perspective, China and Pakistan can dispel India’s doubt to the maximum degree if they are firm about their cooperation and actively interact with neighbouring countries, it said. The article written by a researcher who worked in Pakistan said Chinese investments there could make profits.
“The return rate of the CPEC for China is generally higher than that in other countries. Pakistan is required to pay 17 per cent of the investment deposit for each project,” it said, providing rare details about the conditions laid down for Chinese investments in Pakistan.
“At present, China has invested in 51 projects in the CPEC, with 19 already complete. Pakistan has announced that the total investment has reached $50 billion. That number is based on projects that are currently running, and the final number will exceed it,” the article said.
In addition to the CPEC, China has invested in more than 200 projects in Pakistan. Its investment in the Hualong One Nuclear Power project near Karachi amounted to $6.5 billion, it said. The investments mainly focus on energy and infrastructure, which are urgently needed for Pakistan’s economic development.
It also sought to dispel fear about Chinese workers’ safety in Pakistan after two Chinese were killed in Balochistan allegedly by the Islamic State terrorists. Despite the recent tragedy, the overall security situation in Pakistan has improved, the article said. “Attacks on Chinese people mainly occurred in Balochistan, where the security situation has been truly deteriorating,” it said.
Incursions: China accuses India
Beijing: China has accused Indian border guards of crossing into its territory from the state of Sikkim on India’s northeastern border with Tibet, the Chinese foreign and defence ministries have said, complicating an already difficult relationship. Geng Shuang, a spokesman with China’s foreign ministry, said Indian guards “obstructed normal activities” by Chinese forces on the border and called on India to withdraw immediately, according to a ministry statement late Monday. He urged India to respect China’s territorial integrity and the border treaties signed by the two countries, and said China had already suspended official pilgrimages at the Nathu La Pass, which lies on the frontier between Sikkim state and Tibet. A spokesman for the Indian Army declined to comment but said the army would issue a statement Tuesday. India’s defence ministry did not immediately respond to a request for comment.
Nathu La connects India to Hindu and Buddhist sites in the region and was the site of a fierce border clash between Chinese and Indian troops in 1967. China’s Defence Ministry said in a separate statement India’s military had obstructed work on a road, a move it described as seriously threatening peace on the border.
