Home Pakistan China Pakistan diverts BRI funds; China ties under pressure – Economic Times

Pakistan diverts BRI funds; China ties under pressure – Economic Times

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NEW DELHI: A controversy has erupted over the China-Pakistan Economic Corridor (CPEC) ahead of the second Belt and Road Initiative (BRI) summit in Beijing following allegations that the Pakistani government has diverted ?2,400 crore (around $171.6 million) meant for joint infrastructure development projects with China under BRI to other projects.

China had given the money as part of the $62-billion infrastructure funding to build the CPEC. However, Pakistan’s planning and development ministry issued an order diverting Rs 2,400 crore to projects to be identified by local legislators under the United Nations’ Sustainable Development Goals programme, according to sources.

The move could be part of Prime Minister Imran Khan’s party Pakistan Tehreek-e-Insaf ’s efforts to appease its lawmakers by allowing them to make decisions on development projects, said one person.

“The government committed theft by spending Rs 2,400 crore out of Rs 2,700 crore meant for BRI on other development projects,” Opposition leader Maulana Fazl-ur-Rehman was quoted by local media.

Differences between China and the Imran Khan government over the CPEC have persisted since the former cricket captain was elected as the PM last year. Razak Dawood, a cabinet member, had demanded that the CPEC projects be put on the back burner for a year because he claimed they were of little benefit to Pakistanis. Besides, the Khan government included new sectors like agriculture under CPEC. According to the Sindh-based business lobby, only Punjabi business houses benefited from CPEC projects under the erstwhile Nawaz Sharif government.

Russian news agency Sputnik recently reported that China has deployed troops closer to the India border to safeguard the CPEC. Safeguarding the CPEC was the primary reason behind China’s veto in the UN Security Council against declaring Jaish-e-Mohammad chief Masood Azhar a global terrorist despite global outrage, according to the people cited earlier. China fears terrorist attacks on the CPEC, which will be its key transportation link to the Indian Ocean Region to connect West Asia and Africa.

3rd Attack in 6 Months on Chinese Assets

New Delhi: In yet another attack on Chinese nationals on Pakistani soil, a 22-vehicle convoy of Chinese engineers employed in the China Pakistan Economic Corridor (CPEC) has been targeted in Balochistan resulting in a number of casualties. This was the third attack on Chinese assets in the past six months by Baloch Liberation Army (BLA), which has been protesting China’s growing presence in Balochistan. The attack occurred near Hamdard University in Karachi, ET has learnt. (ET Bureau)

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