China blocking funds for dam in Pak held kashmir, can help India win the ca

[xataxsata]

China blocking funds for dam in Pak held kashmir, can help India win the case

SRINAGAR: In a development that can help India win its case over 330-MW Kishanganga Power Project in remote Gurez, Pakistan is facing severe problems in managing the financial closure of its 990-MW Jhelum-Neelum power project in outskirts of *** capital, Muzaffarabad. Pakistan has taken the case for arbitration and a verdict of the International Court of Arbitration is expected anytime this year.

Reports appearing in the Pakistani newspapers suggest that Beijing has blocked a credit line of US $448 millions and the process is yet to complete even after three years. This is expected to slowdown the implementation of the project. In a case of dispute, the water sharing Indus Water Treaty between India and Pakistan upholds the riparian rights of the project that is operational.

Both the countries are setting up projects on either side of the LoC. Pakistan took the case to the World Bank challenging India's right to divert water discharge into another river. Islamabad said the diversion of water will force a crop change in a vast belt and make unviable its upcoming energy project. Both the sides are busy implementing their projects and the case is lying is being adjudicated at the Hague. The court visited both the sites on either side of the LoC in June 2011.

An interim order issued by the Court in December last did not prevent construction of tunnels, power houses and other allied works by NHPC. It, however, expressly sought halt in any permanent construction activity on the riverbed.

Chian's Exim Bank had pledged the credit line in 2009 when Pakistani president Asif Ali Zardari visited Beijing.

As the capital is yet to flow, a senior officer has been flown to Beijing for an urgent follow up, the report added.

However, the bank did not entertain the request saying the capital will flow at the appropriate time. This has frustrated Islamabad.

Pakistan's project is being implemented by a Chinese consortium.

Islamabad, the report suggested, sees a strange dichotomy in Chinese decision making. While Beijing immediately released US $130 million for the Chilas Road in Sakrdu, it took three years for another pledge that its top leader committed.

The project, a separate entity has raised loan of six billion Pakistani rupees from WAPDA, Pakistan's Water and Power Development Authority but the entity being cash strapped, it could hamper the deadlines of the project, the report quoting Pakistani officials said.

Now, the report said, Islamabad is working on alternatives. Any delay can play with the deadlines and if NHPC's Kishanganga is up and in operation, the International Court verdict will uphold India's rights over water use. Now Islamabad is seeking US $200 million from Islamic Development Fund, US 337 million from Saudi Fund, US $ 100 from Abu Dhabi Fund and another US $ 30 million from Kuwait Fund to manage its resource gap.

Interestingly, Hindustan Construction Company (HCC) which is implementing the NHPCs Kishangnaga project is not facing any resources problem. Of the Rs 3642 crores that the project will eventually require, almost Rs 1000 crores stand spent already. Pakistan facing resource crunch for its controversial Jhelum-Neelum power project - The Economic Times

Thank you china for ur initiative, India-china friendship surely have a chance

 

[Ammyy]

What happened to Pakistan-China friendship ????

Or Pakistan got another friend like... like USA ???

 

[Dark Warrior]

After effects of Agni-V.

 

[Alchemy]

China off late has been supporting Pak through friendly words and supporting India through friendly actions ....

As they say actions speaks louder than words

 

[Markus]

Hmmm....the Chinese are strange.

I will have to eat more noodles to understand them.

 

[American Pakistani]

Actually no one can help Pakistan until there is corrupt ghaddari regime in Islamabad who can't donate one paisa to his own country but can donate million to hostile countries.

Even Pakistanis don't trust him.

 

[Dark Warrior]

 

[xataxsata]

Actually no one can help Pakistan until there is corrupt ghaddari regime in Islamabad who can't donate one paisa to his own country but can donate million to hostile countries.

Even Pakistanis don't trust him.

He is a god send gift to pakistan.

He have gone where no one have gone like Russia he is helping pakistan in everyway he can.

And fact of the matter is that this loan/aid for dam is also due to him.

 

[OrionHunter]

This is not the first time that China has ditched its all weather friend where cash is concerned. It refused to bail out Pakistan when it desperately needed $7 billion to fund various projects. Pakistan had to finally approach the IMF. The money was released with a few caveats only after the Yanks intervened on behalf of Pakistan. Yep! With the help of the Yanks whom they hate!

China even refused to help build a Naval base at Gwadar and instead wanted to have a military base in the FATA region, only to prevent terror attacks in Uighur province (which they claim are emanating from the FATA region).

Their promised $200 million for rehabilitation of Pakistan's flood victims hasn't materialized even till today except for a paltry $43 million.

So much for friendship that is deeper than the oceans, higher than the mountains and sweeter than honey!

 

[Alchemy]

Actually no one can help Pakistan until there is corrupt ghaddari regime in Islamabad who can't donate one paisa to his own country but can donate million to hostile countries.

Even Pakistanis don't trust him.

Correction , donation to a place of worship not to country !!!

 

[Markus]

Lets see for how long this all weather friendship lasts

 

[Peregrine]

If China was like USA, it would be supporting the corrupt elements in Pakistan, but it's not. Good move by China. LOL at delirious indians.

 

[DDLJ]

This is not the first time that China has ditched its all weather friend where cash is concerned. It refused to bail out Pakistan when it desperately needed $7 billion to fund various projects. Pakistan had to finally approach the IMF. The money was released with a few caveats only after the Yanks intervened on behalf of Pakistan. Yep! With the help of the Yanks whom they hate!

China even refused to help build a Naval base at Gwadar and instead wanted to have a military base in the FATA region, only to prevent terror attacks in Uighur province (which they claim are emanating from the FATA region).

Their promised $200 million for rehabilitation of Pakistan's flood victims hasn't materialized even till today except for a paltry $43 million.

So much for friendship that is deeper than the oceans, higher than the mountains and sweeter than honey!

Chinese are business oriented People and it is unlikely that they will give Pakistan billions of dollars free like United States. China's help to Pakistan would only be there when it comes to Veto power, creating nuisance for India by stapled visa but economic bailout of Pakistan by China is impossible.

Even in the projects where Chinese invest in Pakistan all the contracts are giving to Chinese companies and money is ultimately taken back to China and Pakistan paying interest of that. It seems Chinese are feeling that their investment in Pakistan is going to be fruitless.

 

[American Pakistani]

Correction , donation to a place of worship not to country !!!

Firstly that is not place of worship & secondly that place was in any country & not an indepandant place.

 

[Alchemy]

If China was like USA, it would be supporting the corrupt elements in Pakistan, but it's not. Good move by China. LOL at delirious indians.

Are you left with any other option than to praise china for its each and every move ... whether it is pro or against your country ???