report in Times of India online, Oct 16, 2023 at 10.49 PM ISTNEW DELHI: Nepal’s very expensive Pokhara international airport is shaping up to be an economic albatross for the cash-strapped nation and has saddled it with debt to creditors in Beijing for years to come. The fate of the airport strongly parallels that of Gwadar Port in Pakistan which was built under China’s Belt and Road initiative (BRI). The multi-billion dollar port has failed…
Posts tagged as “economic”
report in Daily Times, Oct 9, 2023In a recent study conducted by the Pakistan Institute of Development Economics (PIDE), startling revelations have emerged regarding the economic impact of internet shutdowns in Pakistan. PIDE estimates show that the closure of internet services for just 24 hours results in a direct loss of PKR 1.3 billion, which equates to a staggering 0.57 percent of the daily GDP average for the nation. This eye-opening revelation is part of…
by Khaleeq Kiani in Dawn, Sept 29th, 2023ISLAMABAD: Pakistan is seeking around $11bn in bilateral support from China and Saudi Arabia as the caretakers push for expanding the tax net effectively to retail, agricultural and real estate sectors while continuing a crackdown on illegal currency movements to fill external and domestic resource gaps so that the IMF programme remains on track to ensure economic stability until an elected government takes power. This was part of…
by Omer Farooq Khan in Times of India, Sept 27, 2023ISLAMABAD: Beijing has turned down several of Islamabad’s proposals related to direct investments in multiple sectors under the China-Pakistan Economic Corridor (CPEC), including energy, tourism, water management and climate change, minutes of a key panel meeting indicate. The signed minutes of the CPEC’s Joint Cooperation Committee (JCC) bring to fore the formidable challenges both sides face in deepening economic ties. The JCC meet was held…
by Shahbaz Rana in The Express Tribune, Sept 26th, 2023.ISLAMABAD: China has not agreed to further expand cooperation in areas of energy, water management, and climate change under the China-Pakistan Economic Corridor (CPEC), underscoring the challenges that both the sides are facing in deepening the economic ties. Moreover, Islamabad gave up its opposition to setting up a new imported coal-fired power plant in Gwadar and also agreed to a number of Chinese demands to address…
by Liu Zhen in SCMP, Sept 21, 2023A new trading facility in a Tibetan village on the border with Nepal has been given the go-ahead, as China seeks to expand economic ties with its Himalayan neighbour. Construction work on the Lizi Port – which sits at 4,600 metres (15,000ft) above sea level – has been completed and it passed an inspection by the commerce ministry on Tuesday, according to Chinese state media. The inspection found…
report in TOLOnews, Sept 5, 2023The activities of seven media outlets in Paktia have stopped due to economic challenges after the Islamic Emirate took over the country. According to the officials, these include four radio stations, two print media outlets, and one online media outlet. “The media operating in the province have many economic problems and there is no specific source to finance them,” said Sayed Omer Adil, head of a radio station in Paktia.…
report in TOLOnews, Sept 5, 2023The activities of seven media outlets in Paktia have stopped due to economic challenges after the Islamic Emirate took over the country. According to the officials, these include four radio stations, two print media outlets, and one online media outlet. “The media operating in the province have many economic problems and there is no specific source to finance them,” said Sayed Omer Adil, head of a radio station in Paktia.…
by Anil Giri in The Kathmandu Post, Sept 7, 2023Chinese Ambassador to Nepal Chen Song’s remarks regarding the trade of electricity and other goods between Nepal and India as well as the economic growth of Nepal’s southern neighbour have ignited a controversy. Addressing a discussion titled ‘China in global economy and its impact in Nepal’, organised in Kathmandu on Saturday by the Foundation for Trans-Himalayan Research and Studies and Friends of Silk Road Club Nepal,…
by Ali Hussain in Business Recorder, August 31st, 2023ISLAMABAD: A senior US diplomat on Wednesday reached out to the caretaker government to discuss deepening Pakistan-US partnership and cooperation on issues of mutual concern, including economic stability and continued engagement with the International Monetary Fund (IMF). Acting Deputy Secretary of State and Under Secretary for Political Affairs Victoria Nuland telephoned interim Foreign Minister Jalil Abbas Jilani to congratulate him on assuming the office as well as…
by Jagaran Chakma in The Daily Star, Aug 22, 2023One of the development projects undertaken on Chinese loans has been completed while eight others are being implemented in full swing following a prolonged hiatus for the pandemic, said relevant officials and Economic Relations Division (ERD). A memorandum of understanding titled “Strengthening investment and production capacity cooperation”, comprising 27 projects and a cost of $20 billion, was signed during Chinese President Xi Jinping’s visit to Bangladesh…