China backing away from funding BRI due to Pakistan s rising debt
China backing away from funding BRI due to Pakistan s rising debt
Last Updated: Fri, Dec 25th, 2020, 10:53:11hrs
Islamabad [Pakistan], December 25 (ANI): Beijing is backing away from Pakistan s USD 60 billion commitment to the global Belt and Road Initiative (BRI), Asia Times reported. The CPEC s future is not only clouded by China s apparent new, more conservative lending policy but also Pakistan s overborrowing, which is fast driving the country toward a debt crisis. Pakistan s debt to GDP ratio is now at a high 107% of GDP, FM Shakil said in his article.
Pakistan has slipped into a debt trap due to the government s failure to bring reforms and weak fiscal management.
China backing away from funding Belt and Road Initiative due to Pakistan s rising debt Updated Dec 25, 2020 | 11:27 IST
Pakistan has slipped into a debt trap due to the government s failure to bring reforms and weak fiscal management. Representational image | Photo Credit: PTI
Islamabad, Pakistan: Beijing is backing away from Pakistan s USD 60 billion commitment to the global Belt and Road Initiative (BRI), Asia Times reported. The CPEC s future is not only clouded by China s apparent new, more conservative lending policy but also Pakistan s overborrowing, which is fast driving the country toward a debt crisis. Pakistan s debt to GDP ratio is now at a high 107% of GDP, FM Shakil said in his article.
Zhengbang Agriculture Pakistan (Private) Limited visits Punjab Board of Investment and Trade
Lahore, December 21, 2020 (PPI-OT): A three member’s delegation of M/s Zhengbang Agriculture Pakistan (Pvt.) Ltd. visited PBIT to discuss the potential opportunities for expanding their existing business footprint in Punjab. The CEO PBIT Dr. Erfa Iqbal along with the PBIT’s China Desk Team shared the investment and SEZ regime of Punjab and underscored that PBIT is the one window solution provider for the investors looking for investing in Punjab and further assured them of complete support of PBIT for establishment of their crop protection products manufacturing facility in Allama Iqbal Industrial City in Faisalabad.
by Shafqat Ali
ISLAMABAD, Dec. 15 (Gwadar Pro) - Pakistan has ordered to ease visa facility for Chinese investors to attract investment in the country.
Interior Minister Sheikh Rashid Ahmed said on Monday that directions in this regard had been issued.
“The directives have been issued to ease visa facility for the Chinese investors. This is aimed at attracting investment in the country,” Ahmed said.
The Interior Minister expressed the commitment to making efforts towards bringing improvement in law and order in the country to facilitate the investors.
Over the weekend, Faisalabad Industrial Estate Development and Management Company (FIEDMC) chairman Mian Kashif Ashfaq said more than 25 Chinese companies had signed accords to invest in Allama Iqbal Industrial City, Faisalabad alone.