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China handover 1,000 ventilators to NDMA

The handover ceremony of 1,000 ventilators assisted by China to NDMA was held in Islamabad on August 13. The Chinese government has provided Pakistan with seven batches of anti-epidemic materials since February.

 
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China, Pakistan agree to preserve, protect, promote CPEC


August 21, 2020
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ISLAMABAD: The Communist Party of China (CPC) and Pakistan’s mainstream political parties agreed to preserve, protect and promote China Pakistan Economic Corridor (CPEC).

It was pointed out that three issues in Pakistan enjoy a broad national consensus across the board above party lines including Kashmir, nuclear programme and CPEC and today’s Joint Consultation Mechanism (JCM) further cemented this consensus on CPEC.

It was the crux of discussions held among the International Department of Communist Party of China, in collaboration with Pakistan-China Institute, organised the second conference of the CPEC Political Parties Joint Consultation Mechanism (JCM) on the theme of “Working Together to Promote Economic Development and Improve People’s Lives Through High-Quality CPEC Cooperation” here on Thursday.

Both sides political parties viewed CPEC as a “game changer and a guarantor of a better tomorrow for Pakistan’s 220 million people”. It was attended by nine political parties including Pakistan Tehreek-e-Insaf, the Pakistan Muslim League (Nawaz), the Pakistan People’s Party, the Balochistan Awami Party, the National Party, the Jamiat Ulema-e-Islam, the Awami National Party, the Jamaat-e-Islami, and Pakhtunkhwa Milli Awami Party, as well as leading officials from relevant government departments and representatives from business community of the two countries.

The first JCM was held in Beijing in March 2019 and this JCM has now emerged as the institutional mechanism between the CPC and Pakistani political parties for CPEC coordination and communication.

This online conference of nine political parties representing both the government and the opposition was the first of its kind in Pakistan that agreed to preserve, protect and promote CPEC, above party lines, since they all view CPEC as a “game changer and a guarantor of a better tomorrow for Pakistan’s 220 million people”.

President Arif Alvi, in a congratulatory message to the conference, termed CPEC as ‘an iconic project of the Belt & Road Initiative which will change the destiny of the region and promote regional connectivity’. He reaffirmed Pakistan’s strong support to One China policy and strongly opposed any foreign intervention in internal affairs of China with regard to Hong Kong and Taiwan. He also thanked China for supporting Pakistan on Kashmir issue.

The conference was co-chaired from the Pakistani side by the Chairman Senate, Sadiq Sanjrani and from the Chinese side by Song Tao, Minister of the International Department of CPC who is a member of the Chinese Central leadership. The 3-hour long conference also had experts speaking on various issues.

Song Tao, Minister of IDCPC in his keynote speech thanked the president of Pakistan Dr Arif Alvi for sending the congratulatory letter. While appreciating the consensus to take it forward. Party to party cooperation between China and Pakistan is increasing and CPEC is entering into a new era.

Senator Sadiq Sanjrani, in his keynote address, credited China for promoting regional connectivity with its landmark Belt and Road Initiative and extended Pakistan’s support to President Xi Jinping’s vision of “shared prosperity” and “win-win” cooperation of which CPEC is the practical manifestation. Liu Qi, Leader of CPC Jiangxi Provincial Committee congratulated all the participants for the successful organization of the second JCM of political parties on CPEC. He said that the economic cooperation between Pakistan and China is important in high quality construction of CPEC. Moreover, he announced donation of 500,000 masked and 2000 Protective Personal Equipment (PPE) to Pakistani political parties.

Saifullah Khan Nyazee, Chief Organizer of the Pakistan Tehreek-e-Insaf, said that this conference is a great moment that shows that all political parties are on one platform when it comes to CPEC. He also appreciated the exemplary measures taken by China during the fight against pandemic. Moreover, he reaffirmed the commitment and confidence of PTI in taking CPEC forward.

Senator Mushahid Hussain Sayed, from the Pakistan Muslim League (Nawaz) and Chairman of Senate Committee on Foreign Affairs, who also is founding Chairman of PCI, congratulated China on successfully combating COVID-19 through timely measures, decisive leadership and a governance system based on excellent health care facilities as well as a people centered approach and thanked China for its support to Pakistan during the COVID-19 crisis. He said that there are three issues in Pakistan which enjoy a broad national consensus across the board above party lines and these are Kashmir, nuclear programme and CPEC and today’s JCM cemented this consensus on CPEC amongst political parties of Pakistan.

Amanullah Khan Yasinzai, Governor of Balochistan, said that the year 2020 is rough and tough and China has emerged as a key player in world politics and economy. Yao Jing, Chinese Ambassador to Pakistan, said that he is happy to see the COVID cases in Pakistan getting lower day by day. The resilient nature of Pakistan-China friendship and CPEC can be gauged from the fact that it survived even the COVID pandemic and has become stronger. Moreover, he said that China will always stand side by side with Pakistan in all areas of cooperation and both countries will fight the challenges like COVID together.
 
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Pakistan, China vow oppose politicizing pandemic



The Frontier Post
August 21, 2020


ISLAMABAD (APP): Pakistan and China Friday agreed to strengthen bilateral cooperation to develop anti-COIVD-19 vaccine and called for global joint preventive and control measures while opposing politicizing the pandemic and labeling the viruses.

During the second round of China-Pakistan Foreign Ministers’ Strategic Dialogue in Hainan province of China, the two countries emphasized that unity and cooperation were the most powerful weapon for the international community against the disease.

Foreign Minister Qureshi led Pakistani side in the dialogue while Chinese side was led by State Councilor and Foreign Minister Wang Yi, according to a joint press release issued by Foreign Office here after the conclusion of the dialogue.

“Both sides opposed politicizing the pandemic, labeling viruses; supported WHO to play a leading role in global public health governance, and called for the international community to increase the sense of a community of shared future and carry out effective joint prevention and control measures in order to mitigate the negative effects of COVID-19,” it said.

The two sides exchanged views on COVID-19 pandemic, bilateral relations, and international and regional issues of mutual interest, and reached consensus to collectively take measures to safeguard their common interests and promote peace, prosperity, and development in the region.

The two countries agreed that Pakistan and China had stood in solidarity and worked together since the COVID-19 outbreak by timely sharing of experiences relating to the prevention and control of the virus, mutual support in providing medical materials, and have set an example for international community to jointly fight the pandemic.

They agreed to strive for promoting establishment of China-Pakistan Community of Shared Future and Community of Common Health.

Both sides reiterated that the enduring China-Pakistan All-weather Strategic Cooperative Partnership was beneficial to international and regional peace and stability, and served the mutual security and development interests of both countries as well as of international community and regional countries.

Pakistan and China were committed to firmly implementing the consensus reached between the two leaders, enhancing mutual strategic trust, strengthening all-round cooperation and maintaining momentum of high-level exchanges. They also resolved to further advancing construction of Belt and Road Initiative, promoting bilateral relationship to a higher level, and delivering greater benefits to both countries and the two peoples.

Both sides agreed on continuing their firm support on issues concerning each other’s core national interests. The Chinese side reiterated that Pakistan and China were iron brothers and Pakistan remains China’s staunchest partner in the region.

“China firmly supports Pakistan in safeguarding its territorial integrity, sovereignty and independence, independently choosing a development path based on its national conditions, striving for a better external security environment and playing a more constructive role on international and regional affairs,” the statement said.

The Pakistani side appreciated China for standing together with Pakistan in safeguarding its national security and sovereignty, and reaffirmed its firm support to China on affairs concerning China’s core interests and issues of major concern, such as those related to Taiwan, Xinjiang, Tibet and Hong Kong.

Both sides underscored that CPEC has entered the new phase of high-quality development, and has played and will continue to play an important role in supporting Pakistan to overcome the impact of COVID-19 and achieve greater development.

It was agreed that the two countries would continue to firmly advance the construction of CPEC, ensure in-time completion of those projects under construction, focus on economic and social development, job creation and improvement of people’s livelihood.

They also agreed to further strengthen cooperation in Specialized Economic Zones, industrial relocation, science and technology, medical and health, human resources training, poverty alleviation, and agriculture etcetera with the aim to continuously unleash the great potential of CPEC to make it a hub of regional connectivity.

Both sides expressed satisfaction on agreements reached on recent mega energy projects and looked forward to convening the 10th JCC meeting at the earliest possible date to promote CPEC to make positive contributions to the high-quality construction of BRI.

The two leaders reaffirmed the principle of wide consultation, joint contribution and shared benefits in building CPEC, and welcomed the international community to join in the CPEC construction on the basis of consensus to achieve shared development. They expressed satisfaction over cooperation on regional and international issues at multilateral fora such as the UN, Shanghai Cooperation Organization and ASEAN Regional Forum. They agreed to deepen coordination and cooperation to safeguard mutual interests and uphold principles of fairness and justice.

Both sides reaffirmed their commitment to the purposes and principles of the UN Charter, and support for multilateralism, free trade and win-win cooperation, and opposition to unilateralism, protectionism and coercive practices.

Both the countries underlined that a peaceful, stable, cooperative and prosperous South Asia was in common interest of all parties. Parties need to settle disputes and issues in the region through dialogue on the basis of equality and mutual respect.
 
Xi says CPEC vital to promote bilateral ties

Chinese president vows to build a closer China-Pakistan community with a shared future

Xinhua

August 22, 2020



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President Xi made the remarks in a verbal message to President Arif Alvi.


BEIJING: Chinese President Xi Jinping said on Friday that as a landmark project under the Belt and Road Initiative (BRI), the China-Pakistan Economic Corridor (CPEC) was of great importance to promoting in-depth development of the China-Pakistan all-weather strategic cooperative partnership and forging a closer China-Pakistan community with a shared future.

Xi, also the General Secretary of the Communist Party of China Central Committee, made the remarks in a verbal message to Pakistani President Arif Alvi. Xi said he appreciated the fact that Alvi sent a congratulatory letter to the opening of the Second Conference of the CPEC Political Parties Joint Consultation Mechanism, which fully demonstrated that Alvi attached great importance to and supported the China-Pakistan relationship and construction of the CPEC.

“China and Pakistan are good brothers and partners who share special friendship,” Xi said, adding that political parties from both sides often carried out friendly consultations and constantly built political consensus, which was conducive to steadily advancing the construction of the CPEC as well as high-quality Belt and Road cooperation.

“Since the Covid-19 epidemic broke out, the global fight had fully demonstrated that mutual support, solidarity and cooperation present a sure way for humanity to defeat this novel coronavirus,” the Chinese president said.

“China stands ready to work with Pakistan to build a closer China-Pakistan community with a shared future, jointly promote regional solidarity and cooperation, and safeguard the good momentum of peace and development in the region.”
 
Budgetary support: China allows Pakistan to use its $1 bn SBP deposit

August 22, 2020




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ISLAMABAD: China has allowed Pakistan for utilising its $1 billion deposited in the State Bank of Pakistan (SBP) for financing budgetary support, The News has learnt.
With this permission, the government would minimise at least Rs165 to Rs169 billion requirements for raising domestic debt from banking or non-banking institutions to finance its budget deficit. Beijing has provided $1 billion for deposit in the SBP in order to bridge the financing needs when Saudi Arabia had withdrawn its money. “China has come forward to bridge this gap. Beijing provided additional facility by allowing utilisation of $1 billion equivalent in rupee term for financing the budgetary requirements,” top official sources confirmed to The News here on Friday.
When the Ministry of Finance Spokesman was contacted for comments, he replied that Chinese deposits are public debt which means the Government of Pakistan receives Pak rupee equivalent to that amount.
Saudi Arabia, UAE and China helped Pakistan to manage its external account woes as the friendly countries had extended support in shape of rolling over their deposited money under three-year IMF programme. Pakistan’s financing sector requirements stood at $29.3 billion for the current fiscal year and because of stalled IMF programme it would be quite hard to manage external financing needs without any slippages.
China is the top depositor at the SBP for improving Pakistan’s foreign exchange reserves. At the moment, total foreign exchange reserves stand at $19.6 billion out of which the foreign exchange reserves held by the SBP were $12.6 billion and reserves held by commercial banks were $7.01 billion on August 13, 2020, despite making repayment of $151 million on external loan obligations.
With decreased discount rates, the exchange rate faced pressures in recent weeks so there is risk that imports might witness surge in months ahead so imbalance on external account might occur. The economic managers will have to develop synergies among fiscal and monetary policies in order to avoid surfacing of imbalances on macroeconomic front.
When contacted, renowned economist Dr Ashfaque Hassan Khan said there was no economic justification for placing pressure on exchange rate because the foreign currency reserves increased in the wake of improved dollar inflows through different avenues. He said it seemed that the SBP was forced to decrease the discount rate after which the country’s debt servicing was slashed down by Rs200 to R300 billion. But now the exchange rate was depreciated without any justification so the public debt surged so the gains obtained through reduced discount rate got neutralised, he maintained.




 

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