Islamabad: Pakistan, who distanced itself from Saudi Arabia after announcing that China was a true friend of Pakistan, has been severely jolted by China. As per received information, Chinese financial institutions and banks are unwilling to invest in the China Pakistan Economic Corridor (CPEC). The Chinese banks are saying that the instability in Pakistan is responsible for the decision. Whereas, Pakistan media is criticising that the Pakistani leaders are begging China. Therefore, the discontent in the Pakistani population against the Imran Khan government and China is seething further.
After Saudi Arabia denied the economic concessions and oil supply, Pakistan announced that China was its ‘all-weather friend’. Thereafter, Pakistan Foreign Minister, Shah Mahmood Qureshi, proceeded on an urgent visit to China and met Chinese Foreign Minister Wang Yi. Qureshi announced that his China visit was a major success. But the Pakistan media pointed out that Qureshi actually returned empty-handed. Prime Minister Imran Khan and Foreign Minister Qureshi avoided elaborating further on the subject. But the details of Qureshi’s visit to Pakistan are surfacing slowly.
Pakistani media claimed that the Chinese financial institutions and banks are unwilling to invest in the CPEC project in Pakistan. Chinese banks have indicated stoppage of investment into the project. Information is being revealed that Foreign Minister Qureshi held discussions with the Chinese officials on the issue. The banks have forwarded, instability in Pakistan, as the reason for the decision. Some of the Pakistani journalists are saying that the Chinese banks have lost faith in the Imran Khan government. Whereas, as per Pakistani media, the Chinese banks have stopped the funding, because of the possibility of upheaval in Pakistan any time.
Meanwhile, there is tremendous discontent regarding the CPEC project in the Pakistan population. Pakistan population and media claim that China has exploited Pakistan under the disguise of the CPEC project. A fraud of USD 620 million, perpetrated by the Chinese companies, is being cited for this purpose. At the same time, there is discontent brewing in the Pakistani people and soldiers because of the attacks carried out by the Chinese contract workers employed in the CPEC projects. Pakistan media has levelled an allegation that the former Pakistan military officials who supported the projects are sitting abroad with properties worth billions of dollars.
Related posts:
China disappointed with Pakistan over ‘CPEC’
China gives Pakistan two patrol ships for security of CPEC
China mediates between Pakistan and Afghanistan
Rising discontent in Pakistan against CPEC, reports International Crisis Group
China provided a loan of USD 6.5 billion to Pakistan in fiscal 2018-19, Pakistan accepts under pressure from the IMF
Iran to join the China-Pakistan-Russia front, indicates Iran`s leader
