Ahsan dispels apprehensions of senators on CPEC route

ISLAMABAD: Dispelling the apprehensions aired by senators from across the aisle in the Senate, Minister for Planning and Development Ahsan Iqbal categorically said in the House that the China-Pakistan Economic Corridor (CPEC) route agreed in All Parties Conference on May 28, 2015 was being implemented word by word.
The Senate Chairman Mian Raza Rabbani made it clear that the Senate special committee on CPEC would continue its work after the presentation of its interim report and formation of a parliamentary committee by the NA speaker. “The Senate committee will continue to hold the field,” he said when some senators complained that the parliamentary panel had majority members from Punjab.
Winding up the debate on an adjournment motion moved by PPP Senator Taj Haider and other senators, including Farhatullah Babar of PPP, Baz Muhammad Khan of Awami National Party, Pakhtunkhwa Milli Awami Party’s Usman Kakar and Sardar Azam Musakhail, the minister made it clear that the work on the western route was continuing with a decent pace as per the consensus evolved during the APC, convened by the prime minister.
Senator Babar said that people of smaller provinces were given a new hop when prime minister at the end of APC announced the western route would be the priority, which would pass through the most backward areas of Pakistan but it appeared that APC consensus was being eroded. He lamented that alarmed by this, when the Senate body wanted to meet prime minister, he did not even reply to its request.
He wanted prime minister to make a categorical statement in the Senate that early harvest projects perception did not exist and that the western route would be built on priority. He questioned if there was no change then, why it was not reflected in the PSDP, alleging it was being made Punjab economic corridor.
The minister rejected outright the theory, attributed to the government by the opposition senators that early harvest projects were being given priority under the corridor and hence backward areas left out. He said like the nuclear programme that made Pakistan’s defence impregnable, the CEPC would make the national economy impregnable and there would be prosperiity in all the four provinces.
However, during his speech, senators belonging to the opposition parties staged a token walk-out from the House to express their dissatisfaction on the minister’s statement regarding the alleged change in CPEC route. On this, the minister said that their apprehensions were based on lack of information and that they would have first listened to him.
He explained that under the CPEC, work was under way in four departments, which are the energy sector to end the crisis, development of the related infrastructure, development of Gwadar Port and development of industrial sector with the cooperation of China.
Ahsan maintained that the CPEC was not the name of a road or a route rather it was a comprehensive concept and framework of development and prosperity. The minister shared details of the various roads being constructed and said the Gwadar-Quetta road would be completed by December next year.
Earlier, the treasury and opposition senators cautioned against changing the CPEC route to deny less developed and backward areas of Balochistan and Khyber Pakhtunkhwa to benefit from massive Chinese investment. They alleged that the economic corridor was being made controversial like Kalabagh dam and Kashmir issue.
They warned the government not to change the route, as this would have deep impact on the federation and the smaller provinces, as the project was being redesigned to the advantage of Punjab. They feared the work on the western route, being the original and shortest route could be delayed to be built in 2030.
Senator Taj Haider complained that neither the prime minister had responded to his letter nor minister for Finance and minister for Planning Commission. He had written to the prime minister on behalf of the Senate special committee on CPEC for a meeting with him regarding the perceived change in the corridor route.
Those who spoke, included Usman Kakar, Sardar Azam, Azam Swati and Mohsin Aziz of Pakistan Tehreek-e-Insaf, Sassui Palijo of PPP, Baz Muhammad and Sitara Ayaz of Awami National Party and Ataur Rehman of JUI-Fazl.
Earlier, responding to a calling attention notice by PPP Senator Osman Saifullah Khan, Finance Minister Muhammad Ishaq Dar described the issuance of euro bonds worth 500 million dollars at the interest rate of 8.25 per cent a very positive development and sign of trust on Pakistan’s economy. He said issuance of bonds was a bold step and urged the opposition to see the finance-related matters in totality.
He also claimed that there would be no increase in total foreign debt because of these bonds, issued after a gap of seven years. The minister insisted that the possibility of default had been buried at least for the foreseeable future.
The minister also shared with the House a piece of information, which he billed as good news that in November 950 million dollars would be in Pakistan for energy. However, the minister agreed that foreign direct investment was very important for Pakistan’s economy as well as increasing exports.
While speaking on the notice, Senator Osman contended that there was no need to issue bonds at such a high interest rate, as Pakistan would have to pay Rs410 million interest on these bonds, asking the government exactly was the compulsion to opt for this move.
The senator said that the issuance of bonds led to increase in foreign debts and asked what the urgency was when the next installment was to be paid in March next year.
He deplored the whole reliance of the incumbent government was on loans instead of taking steps to attract foreign direct investment and increasing plummeting exports.
The senator pointed out that while Pakistan had to pay the interest on loans in dollars, the local banks were paid interest in rupees.
Senator Sardar Azam, Taj Haider Azam Swati, Usman Kakar and Dr. Jehanzeb Jamaldeni, speaking on an adjournment motion, moved by Senator Sardar Azam, questioned the delay in giving the new NFC award. They complained even the existing one was not being implemented and hence the provinces were being denied what was their right.
Senators from Balochistan said area and backwardness must be given priority in allocation of resources to provinces. They also insisted that special conditions, like being major victim of the menace of terrorism should also be given due consideration and hence, both Khyber Pakhtunkhwa and Balochistan should get more under NFC.
In response, Minister Dar said the government wanted early thrashing out of the new NFC award and singled out factors, responsible for delay, including non-nomination of member from Punjab after the member was made provincial finance minister.
He said they faced similar situation earlier with regards to Sindh. He revealed that the first NFC award was followed for 16 years, the second for six and the third for 13 years.