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China, Pakistan make up, recommit to big infrastructure project
来源：shippingazette.com 编辑：编辑部 发布：2017/11/29 10:23:19
AFTER a week-long break-up, China and Pakistan have agreed to press ahead with their big Belt and Roadinfrastructure plans, reports Hong Kong's South China Morning Post.
Analysts said disputes over individual projects would not have a significant impact on progress with officials from both finalising a long-term plan to 2030 for the US$57 billion China-Pakistan Economic Corridor (CPEC).
This was reportedly wrapped up at a Joint Coordination Committee meeting in Islamabad. The CPEC is a flagship project under Beijing's Belt and Road Initiative.
The two nations agreed to begin the first phase of developing special economic zones. But Pakistan rejected China's demand to use the yuan in the Gwadar Free Zone, saying this would compromise its "economic sovereignty," reported the Peshawar Express Tribune.
Two week ago, Pakistan pulled the plug on a US$14 billion deal to build the Diamer-Bhasha Dam - excluding it from the CPEC - saying China's conditions for funding the project were unacceptable and went against its interests.
Pakistani Power Development Authority chairman Muzammil Hussain said harsh conditions included China taking ownership of the project, the operation and maintenance costs and pledging to build another operational dam.
The project will go on ahead, however, as Pakistan has decided to finance the 4,500 MW project itself. The decision comes only a few days after Nepal called off a $2.5 billion hydropower plant awarded to a Chinese state-owned company.
Analysts said disputes over individual projects would not have a significant impact on progress with officials from both finalising a long-term plan to 2030 for the US$57 billion China-Pakistan Economic Corridor (CPEC).
This was reportedly wrapped up at a Joint Coordination Committee meeting in Islamabad. The CPEC is a flagship project under Beijing's Belt and Road Initiative.
The two nations agreed to begin the first phase of developing special economic zones. But Pakistan rejected China's demand to use the yuan in the Gwadar Free Zone, saying this would compromise its "economic sovereignty," reported the Peshawar Express Tribune.
Two week ago, Pakistan pulled the plug on a US$14 billion deal to build the Diamer-Bhasha Dam - excluding it from the CPEC - saying China's conditions for funding the project were unacceptable and went against its interests.
Pakistani Power Development Authority chairman Muzammil Hussain said harsh conditions included China taking ownership of the project, the operation and maintenance costs and pledging to build another operational dam.
The project will go on ahead, however, as Pakistan has decided to finance the 4,500 MW project itself. The decision comes only a few days after Nepal called off a $2.5 billion hydropower plant awarded to a Chinese state-owned company.