Scandalising CPEC

The opposition to the BRI and its flagship initiative of CPEC stems from the contain-China policy of the US meant to thwart the burgeoning Chinese influence in the region and beyond.

In fact, the US and its strategic partner India are vying to sabotage CPEC. The assessment about the impact of CPEC on Pakistan that Alice Well propounded in her address to the Woodrow Wilson forum for scholars in Washington was misplaced. Diplomatically also, it was an undesirable and irresponsible discourse which could affect the already fragile relations between the two countries.

Her assumption that CPEC would ultimately land Pakistan into a debt is also misleading. The fact is that the major portion of CPEC projects relating to infrastructure and energy costing well over $40 billion out of the total projected cost of nearly $6o billion pertain to direct Chinese investment. The Chinese loans constitute only 6.1 percent of the overall debt burden of Pakistan and in no way can jeopardize the reform agenda of the incumbent government.

The other falsehood regarding Chinese debt is that the Chinese debt burden would start showing its impact within the next four to six years which again is contrary to the real situation. The Chinese loans will be repaid over a period of 25 years and their rate of interest is far below the rate that the international lending agencies charge. The Pakistan government, therefore, has rightly expressed disappointment over Wells’ remarks and vowed to continue with a project that is a game-changing initiative not only for Pakistan but the entire region.

CPEC is in fact a monumental initiative for changing the economic profile of the entire region and a nationally owned undertaking by Pakistan and there is no difference of opinion on its importance, efficacy and benefits among the various political leadership and state institutions. No wonder then that about 150 countries and international organizations have signed agreements on the Belt and Road cooperation with China. It is pertinent to mention that even the UK has expressed interest in joining CPEC. One could ask the US that if it is so concerned about the economy of Pakistan why has it not helped Pakistan in overcoming its energy crisis and building the much required infrastructure.

China is a time-tested friend of Pakistan and has played a monumental role in its development and supported it on all issues of concerns, including Kashmir at the global forums. Over the years China has supported the Kashmir cause and extended liberal economic and military assistance to Pakistan. When Pakistan was abandoned by its ally the US during the 1965 war with India, China was there to help Pakistan as it did in each and every subsequent crisis.

Pakistan is indebted to China for its role in the economic progress of the country, such as the construction of the KKH Highway, Heavy Mechanical Complex at Taxila and Chashma Nuclear Plants. In the backdrop of the US-India deal for transfer of civilian nuclear technology which Pakistan regarded as a discriminatory act, China agreed to help in the construction of two more nuclear power plants at Chashma. The US raised objections on the cooperation in the nuclear field between Pakistan and China but the latter brushed aside the apprehensions by informing the Nuclear Suppliers Group (NSG) during its meeting at Christchurch, of its decision to build Chashma IV and V in Pakistan. An arrangement for a soft Chinese loan to fund the construction was also inked.

Pakistan and China also have very strong defence ties. The Pakistan Aeronautical Complex in collaboration with the Chinese Aviation Industry conceived the co-development and co-production of JF-17 Thunder aircraft in 1999 which for Pakistan was a big stride towards attaining self-sufficiency in the field of aircraft production, dictated by the turn of events and the gravity of threats to its territorial integrity. The PAC has already completed the production of 50 aircraft under the Block-I project and is currently working on the Block-II project.

Considering the astronomical prices of modern combat aircraft, JF-17 offers a highly cost-effective solution with cutting-edge capabilities. A number of countries have evinced their interest in purchasing JF-17 aircraft and in view of this development the PAC and CATIC have also signed an agreement for joint sale and marketing of the aircraft which is likely to accrue substantial economic benefits to Pakistan besides further cementing defense ties between Pakistan and China. The induction of JF-17 in the PAF has made our air defense impregnable and enhanced its operational readiness manifold, making our skis safer than before.

China has also helped strengthen the air defence system of the Pakistan Army by providing a Chinese-built low-to-medium altitude Air Defence System capable of tracking and destroying variety of aerial targets at long ranges flying at low and medium altitudes.

In view of the foregoing irrefutable realities and the role that China has played in the economic development of Pakistan and strengthening our defence capabilities to meet our security challenges, the US attempts to create misgivings about CPEC are not going to have any effect in regard to its implementation. Pakistan is a sovereign country and knows well how its economic and security interests are best served.

The writer is a freelance contributor. Email: ashpak10@gmail.com