China's overland Silk Road and Maritime Silk Road Thread

timepass

Brigadier
Please, Log in or Register to view URLs content!


Please, Log in or Register to view URLs content!


In a bid to prepare the country’s youth for the impending opportunities of the China-Pakistan Economic Corridor (CPEC), the National Vocational and Technical Training Commission (NAVTTC) has committed to provide training to 100,000 youth this year.

This was shared by NAVTTC Executive Director Zulfiqar Ahmad Cheema.

Initially NAVTTC had provided training to 25,000 youth. “Last year these numbers increased to 50,000 and from this year we will provide training to 100,000 in market-driven trades or sectors,” he added.

He further added that elaborate arrangements have been made to improve the quality of training so that students could not only fulfill domestic needs but also get their due share from the international markets. He said that training will be imparted in new trades in consultation with the local industrialists.

NAVTTC has entirely changed the perception of skilled worker. For the first time when we invited applications for 25,000 stipends, we received only 17,500 applications. After this change now we are receiving 125,000 applications for only 25,000 available stipends, said Cheema.

Providing some basic information he said that NAVTTC courses last for six months and are entirely free of cost, additionally during this training, the selected students get a stipend at a rate of Rs3,000 per month and on completion of the training they also get a free tool kit to start their own business.

Cheema disclosed that skills councils for each trade will be constituted to provide quality training in each sector.

Please, Log in or Register to view URLs content!
 

timepass

Brigadier
Please, Log in or Register to view URLs content!


Field visit with Chinese Delagtion from Sino hydro to 260 MW Jamshil Toren Mori & 350 MW Toren Mori Kari HPP in District
Please, Log in or Register to view URLs content!
.
Please, Log in or Register to view URLs content!
Govt has ready signed MOUs with SINOHYDRO FOR the development of these projects.

Please, Log in or Register to view URLs content!
,
Please, Log in or Register to view URLs content!


Please, Log in or Register to view URLs content!

Please, Log in or Register to view URLs content!

Please, Log in or Register to view URLs content!
 

timepass

Brigadier
Please, Log in or Register to view URLs content!


CPEC -
Please, Log in or Register to view URLs content!


The Belt and Road Initiative is a very positive project that helps boost sustainable economic development in the world, especially in ill-connected Asia, a former U.S. diplomat has said.

"I think it's a very important project. I think the idea of reconnecting Asia is very important," Marc Grossman, vice chairman of The Cohen Group, told Xinhua in a recent interview. "Because if you look at the area, especially in South Asia, this is a part of the world where, unlike many other parts of the world, there are very few connections really."

"When you think about how well-connected Europe is and how much an advantage that has been for its economic development, all those things have yet to come in parts of Asia and Southeast Asia, parts of central Asia, certainly in South Asia as well," said Grossman, who served as U.S. ambassador to Turkey, assistant secretary of state for European affairs, and under secretary of state for political affairs.

"So this is a big vision on the part of the government of China," he said.
Grossman, who was the U.S. special representative for Afghanistan and Pakistan from February 2011 to December 2012, said the Belt and Road Initiative would help tackle the unifying challenge in South Asia -- economic growth.

"What is the unifying challenge in South Asia? For example, people need jobs. People need sustainable economic development. People need a future," he said. "So I think one of the most interesting things about this vision is that it could really produce a lot of jobs for many, many people (in the region)."

The China-Pakistan Economic Corridor, a collection of infrastructure projects currently under construction throughout Pakistan, is a "very interesting, specific example" of the Belt and Road Initiative comprising the Silk Road Economic Belt and the 21st Century Maritime Silk Road, Grossman said.

"These are positive things, so I'm sure there are lots of reasons to be interested in the Belt and Road Initiative, but for me, it's the question of economic growth," he said.
Globalization has lifted millions and millions of people out of poverty. However, Grossman said that some people have been left behind, so he regarded the Belt and Road Initiative as an opportunity to provide jobs to those who have not yet benefited from globalization.

The former U.S. official said the upcoming Belt and Road Forum in Beijing in mid-May, the highest level of its kind since the initiative was proposed, represents "a continuing, very important effort on the part of the Chinese government" to showcase the Belt and Road Initiative.

"When the summit occurs in May, I think the Chinese side will have a chance to really discuss their objectives and to be honest with people about some of the concerns that are out there. That's only natural. This is a big project and so it's not surprising that people would have concerns about that," he said.

The Belt and Road Initiative proposed by China in 2013 consists of the Silk Road Economic Belt and the 21st-Century Maritime Silk Road. It aims to build a trade and infrastructure network connecting Asia with Europe and Africa along and beyond the ancient Silk Road trade routes.

Grossman said China's message has to be clear that the Belt and Road Initiative is a joint project on a voluntary basis, and "not some effort by China to control a lot of other countries."
"This is a joint development project. It's not just China telling you what to do or telling you how to do business or giving you some instructions somehow," he said.
"I've always believed that you have to start with a vision, so the Chinese have this vision and so now the question is who will carry out the vision and how will the vision be carried out, and that's one of the most important issues (the summit has to answer)," he said.
Grossman expressed the hope that some early results would be presented at the summit to demonstrate the great potential and feasibility of the huge project.
"I think it's very important to make sure that there's some real success, some early demonstration that this works," the expert said. "People would like to see an example of how this works and how it works fairly, transparently and successfully."

Please, Log in or Register to view URLs content!
 

Hendrik_2000

Lieutenant General
Reading Timepass posting seem like Pakistan is paradise but is it? Well here is the reality
All the investment and money that China throw at her will come to naught when Pakisatan fail to manage it well

Why failing to pay the power bill imperils Pakistani economy
Mounting debts could shutter Pakistan’s power plants this summer, blacking out homes and factories, but the government seems incapable of resolving the crisis
By
Please, Log in or Register to view URLs content!
APRIL 24, 2017 10:57 AM (UTC+8

Pakistan faces a power crunch this summer, as the supply of electricity falls short of demand by 4,000 megawatts because of a
Please, Log in or Register to view URLs content!
that has crippled the power generation industry.


Circular debt is the consequence of a link in a supply chain failing to pay its suppliers, causing a domino effect throughout the chain until it breaks and consumers are denied access to goods and services.

Pakistan’s distribution companies are reportedly owed about US$1 billion by provincial governments and another US$1.2 billion by consumers in the private sector. Among the debtors are influential people and some of the country’s biggest companies.

THE DAILYBrief

Must-reads from across Asia - directly to your inbox
To complicate matters, the country’s independent power producers are pressing for payment for the electricity they have supplied to the grid. If the overdue bills are not settled, at least 13 independent producers have threatened to invoke sovereign guarantees they currently hold. The independent producers threatened to do the same in 2014 and were mollified then by a part-payment of what they were owed.

Both the independent and state-owned power producers are withholding payment for the oil they burn to generate power, crimping cash flow to the state-owned oil company, Pakistan State Oil (PSO).
Please, Log in or Register to view URLs content!


The government seems unsure about a strategy to sort out the mess. The ministries involved – those in charge of finance, power and petroleum – have blamed each other, while the National Electric Power Regulatory Authority says subsidies and an unrealistic power tariff are responsible. In an effort to raise money to settle the debts, the government wants to issue US$3.5 billion in bonds with
Please, Log in or Register to view URLs content!
. It issued bonds worth US$4.8 billion in 2013, with the proceeds settling a debt of US$5.3 billion. That failed to solve the problem, instead pushing it back to square one.

The Asian Development Bank has
Please, Log in or Register to view URLs content!
in the energy business, and highlights the following as exacerbating factors:

  • Poor collection of revenue by electricity distributors;
  • Slow and incomplete payment of subsidies;
  • Weak governance;
  • Tardiness on the part of the regulator in adjusting the tariff;
  • Lopsided fuel pricing; and
  • Theft and losses of fuel in transit and electricity in distribution.
Please, Log in or Register to view URLs content!
in the Pakistani energy industry is the failure of government subsidies to make up the difference between the low rates the consumer pays for electricity and the high cost of generating and distributing it.


Contributing to the problem is the incompetence of state-owned generators and distributors of electricity. They are overstaffed and offer their employees free electricity. The utilities lose massive amounts of electricity to thieves, who are often in cahoots with employees, and they are lax in collecting what they are owed by consumers. One solution may be to privatize swiftly all state-owned distributors or turn them over to the provincial governments.

The federal government’s apparent inability to solve the problem will mean shortages of electricity that can only hurt the country’s perilously feeble economy. “The energy crisis will certainly affect the manufacturing sector, which has switched over to captive power [i.e self-generated] mechanisms, as electricity [being generated] is far less than the requirement of local industry,” Aamir Ata Bajwa, senior vice-president of the Federation of the Pakistan Chambers of Commerce and Industry, told Asia Times. He did not offer an estimate of what a blackout might cost industry but he identified the manufacturing sector as the biggest loser.

Tabassum Anwar, standing committee chairman of the Islamabad Women Chamber of Commerce and Industry, blamed the accumulation of circular debt on mismanagement. The consequences, she said, threatened Pakistani industry and would scare foreign investors from the country’s power-generation sector.
 

Hendrik_2000

Lieutenant General
As I said before money doesn't grow on the tree and has to be repaid some day
China has Pakistan over a barrel on ‘One Belt One Road’
Tax concessions for Chinese firms, mounting security costs, crippling debt... The China-Pakistan Economic Corridor is beginning to look like a disaster for its host nation
By
Please, Log in or Register to view URLs content!
APRIL 28, 2017 2:12 PM (UTC+8

The US$56 billion China-Pakistan Economic Corridor (CPEC) – a part of China’s ‘One Belt One Road’ vision – has yet to translate into the ‘game changer’ envisioned by its sponsors. Worse than that, the unparalleled tax breaks and mounting security costs involved have already saddled Islamabad’s exchequer with a hole in its finances of over US$2.5 billion.

Pakistan’s lower house was informed last month that the government had issued a statutory regulatory order (SRO) giving a series of tax exemptions to Chinese firms as an incentive for working in what is considered a highly dangerous zone. These concessions – extensive tax breaks from customs duty, income tax, sales tax, federal excise duty and withholding taxes – have been granted to Chinese companies for the whole of the CPEC operation, including road, mass transit, and Gwadar port projects.

“There is absolutely nothing in the CPEC for the local trade and industry; even the labor is coming from China, which will cause a steep escalation in the operational cost of the project,” said Muhammad Ishaq, a leading industrialist and a director of Khyber Pakhtunkhwa Board of Investment & Trade in conversation with Asia Times. He cautioned CPEC will be a big disaster for Pakistan in the long run.

THE DAILYBrief

Must-reads from across Asia - directly to your inbox
Interestingly, while affording concessions to the Chinese companies, Islamabad went back on its oft-repeated position policy on tax immunity. Only this month, it withdrew tax exemptions worth Rs100 billion (US$945 million) with the aim of bringing its budget deficit down. Since 2014, it has withdrawn around US$3.25 billion in exemptions.
 

Hendrik_2000

Lieutenant General
As of now the kitty is empty

China staving off Pakistan crisis with US$1.2b loans
Chinese banks have twice come to the rescue as Pakistan faces a potential forex crisis
By
Please, Log in or Register to view URLs content!
APRIL 26, 2017 7:35 PM (UTC+8)

Rising imports and falling exports, as well as a drop in remittances from Pakistanis abroad, have brought Pakistan to the brink of a currency crisis, but Beijing banks have come to the rescue,
Please, Log in or Register to view URLs content!
.

The China Development Bank and the Industrial and Commercial Bank of China have each provided US$600 million in emergency loans.

But some experts see an eventual turn to the International Monetary Fund as inevitable. “Technically speaking we should have gone back to the IMF in January, but ministers are likely to try and wait until after the election [for parliament planned for 2018],” the Financial Times quoted Vaqar Ahmen of the Sustainable Development Policy Institute in Islamabad as saying.

“The IMF is a politically volatile issue in our country. If we go to the IMF to deal with our needs, that will send a very negative political signal and the opposition [parties] will use that against the government,” explained one Pakistani lawmaker.
 

dingyibvs

Junior Member
First, a suggestion: Can we create a separate OBOR thread and a CPEC thread? This one is essentially a CPEC thread so might as well rename it or split off the past how many hundred posts into a dedicated CPEC thread. The other thread can be used to discuss the BRI in general.

Second, more about CPEC, I have a few points to make:

1) Infrastructure projects are generally not profitable in and off itself, particularly with transportation projects. The increase in economic activities that they bring, however, oftentimes far outweigh the direct profits (tolls, electricity payments, etc.)

2) CPEC and the BRI at large is a long term vision by China and their expected returns is not limited to interest payments and power bills. Economically, they will allow China to export excess industrial capacity, create future trading partners, tie economies along the BRI to Chinese supply chains, and allow for lucrative developments that come with owning/managing some of the land along the OBOR. Politically, they will allow China to draw the involved countries into China's orbit, create good will with locals, and stabilize bordering regions.

3) The BRI is a $4 trillion project of which CPEC is only a prominent beginning. As such, it needs to succeed, and China will be willing to pay to make sure it does. It's unlikely that the Pakistani economy is truly ready to receive so much investment so quickly, so it's inevitable that China will have to foot some of the bill. Think of it as the free rides and coupons that got Uber started, except China will get more than just market share and publicity as discussed in point 2.

Essentially, what I'm saying that focusing on the loans and how much money these projects can make is missing the forest for the trees. The BRI has a far grander vision, and its success won't be measured until decades down the road.
 

Blackstone

Brigadier
First, a suggestion: Can we create a separate OBOR thread and a CPEC thread? This one is essentially a CPEC thread so might as well rename it or split off the past how many hundred posts into a dedicated CPEC thread. The other thread can be used to discuss the BRI in general.

Second, more about CPEC, I have a few points to make:

1) Infrastructure projects are generally not profitable in and off itself, particularly with transportation projects. The increase in economic activities that they bring, however, oftentimes far outweigh the direct profits (tolls, electricity payments, etc.)

2) CPEC and the BRI at large is a long term vision by China and their expected returns is not limited to interest payments and power bills. Economically, they will allow China to export excess industrial capacity, create future trading partners, tie economies along the BRI to Chinese supply chains, and allow for lucrative developments that come with owning/managing some of the land along the OBOR. Politically, they will allow China to draw the involved countries into China's orbit, create good will with locals, and stabilize bordering regions.

3) The BRI is a $4 trillion project of which CPEC is only a prominent beginning. As such, it needs to succeed, and China will be willing to pay to make sure it does. It's unlikely that the Pakistani economy is truly ready to receive so much investment so quickly, so it's inevitable that China will have to foot some of the bill. Think of it as the free rides and coupons that got Uber started, except China will get more than just market share and publicity as discussed in point 2.

Essentially, what I'm saying that focusing on the loans and how much money these projects can make is missing the forest for the trees. The BRI has a far grander vision, and its success won't be measured until decades down the road.
Well said, and impressive overview of PRC gains from BRI and CPEC.
 
Top