By: Dr. Jumma Marri Baloch
News about fresh research reports put out by Top line Securities, that states that Pakistan will have to repay $90 billion on CPEC investments of $50bn. The report itself is sound, and the figure of $3.5bn per year as repayment obligations are very high such huge payments poor Pakistani economy will certainly not be able to sustain hence will end up in never lasting Chinese debts.
China Pakistan so called economical corridor is nothing but a cunning Chinese trap it’s a huge loan given to Pakistan by Chinese state owned bank that Pakistan have to repay with huge percentages all benefits of this project will flow back to China.
For examples all infrastructure projects are Chinese owned and all the workers will be brought in from China to implement these projects, these projects costs are gold plated to account for both bribes for Punjabi political elites and army generals in Rawalpindi, to ensure that the windfall gains goes back to Chinese.
The CPEC will have great strategic importance for China this is because of the access it allows western China to the Indian Ocean, as an alternative to the straits of Malacca. It also gives China a presence in India’s neighborhood and in western Asia.
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