Kingdom come
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Peshawar, and Baluchistan's capital, Quetta, highly placed sources told VOA on condition of anonymity because they are not authorized to speak with the media.
Additionally, Chinese authorities received intelligence from "different sources earlier this year" that the embassy in Islamabad may be at risk of a terrorist attack, a Pakistani official privy to the information told VOA on condition of anonymity because he is not authorized to speak with the media. The threat has forced Chinese embassy staff to avoid visiting areas other than the so-called Red Zone in the Pakistani capital, housing key government buildings.
CPEC viability
Pakistan's economic troubles have deepened in recent years, with some critics blaming CPEC investments as a main contributing factor. The Sharif government fended off the risk of an imminent default by securing on Friday a short-term $3 billion IMF bailout agreement, subject to the approval of the fund’s board later this month.
"CPEC has failed to live up to its hype, and there's been a whole lot of hype about it. We have seen some significant projects, especially energy infrastructure, go online," Michael Kugelman, director of the South Asia Institute at Washington's Wilson Center, told VOA in written comments.
"But in recent years, a combination of Pakistani economic stress and Chinese security concerns have slowed down CPEC's momentum. Despite the continued soaring rhetoric from both capitals, the corridor's progress has taken a major hit," Kugelman observed.
Pakistan owes more than $1.26 billion (350 billion rupees) to Chinese power plants. The amount keeps growing, and China has refused to defer or restructure the payment and CPEC debt repayments.
All the Chinese loans – both government and commercial banks – make up nearly 30% of Islamabad's external debt.
In an interview with a Japanese media outlet this week, Pakistani Foreign Minister Bilawal Bhutto Zardari rejected assertions that his country had slid into a "debt trap" by China.
"It is incorrect to claim that Pakistan is in China's debt trap," Zardari told Nikkei. "Most of the Chinese assistance to Pakistan is in the shape of investments or soft loans,” he said.
Additionally, Chinese authorities received intelligence from "different sources earlier this year" that the embassy in Islamabad may be at risk of a terrorist attack, a Pakistani official privy to the information told VOA on condition of anonymity because he is not authorized to speak with the media. The threat has forced Chinese embassy staff to avoid visiting areas other than the so-called Red Zone in the Pakistani capital, housing key government buildings.
CPEC viability
Pakistan's economic troubles have deepened in recent years, with some critics blaming CPEC investments as a main contributing factor. The Sharif government fended off the risk of an imminent default by securing on Friday a short-term $3 billion IMF bailout agreement, subject to the approval of the fund’s board later this month.
"CPEC has failed to live up to its hype, and there's been a whole lot of hype about it. We have seen some significant projects, especially energy infrastructure, go online," Michael Kugelman, director of the South Asia Institute at Washington's Wilson Center, told VOA in written comments.
"But in recent years, a combination of Pakistani economic stress and Chinese security concerns have slowed down CPEC's momentum. Despite the continued soaring rhetoric from both capitals, the corridor's progress has taken a major hit," Kugelman observed.
Pakistan owes more than $1.26 billion (350 billion rupees) to Chinese power plants. The amount keeps growing, and China has refused to defer or restructure the payment and CPEC debt repayments.
All the Chinese loans – both government and commercial banks – make up nearly 30% of Islamabad's external debt.
In an interview with a Japanese media outlet this week, Pakistani Foreign Minister Bilawal Bhutto Zardari rejected assertions that his country had slid into a "debt trap" by China.
"It is incorrect to claim that Pakistan is in China's debt trap," Zardari told Nikkei. "Most of the Chinese assistance to Pakistan is in the shape of investments or soft loans,” he said.
