Latest news with #China–PakistanEconomicCorridor
Express Tribune
2 days ago
- Politics
- Express Tribune
TTP terrorist 'behind Chinese engineers attack' killed in Karachi operation
Listen to article Three terrorists from banned Tehreek-e-Taliban Pakistan (TTP), including one allegedly involved in last year's attack on Chinese engineers, were killed in a joint operation by the Counter-Terrorism Department (CTD) and intelligence agencies in Karachi's Manghopir area late Sunday night. On 5 November 2024, a private security guard at a textile mill in Karachi opened fire and seriously injured two Chinese nationals. According to police, deceased suspect, identified as Zafran, had a Rs20 million bounty on him and was accused of involvement in the 2024 Liberty Textile attack targetting Chinese nationals. He was also linked to the Karachi Police Office (KPO) assault. Read: Two Chinese injured in shooting at Karachi mill The incident prompted a pledge by Interior Minister Mohsin Naqvi to enhance security for Chinese citizens in Pakistan. He emphasised that the protection of Chinese nationals remained a top priority, especially given ongoing China–Pakistan Economic Corridor (CPEC) projects, vital to the bilateral relationship between the two countries. Read more: Ensuring security of Chinese nationals govt's top priority: Mohsin Naqvi CTD Chief Raja Umar Khattab said the raid was launched based on credible intelligence regarding a terrorist hideout in Fatima Society on Ijtema Gah Road. Police said terrorists opened fire when they spotted them approaching, triggering a gunfight that lasted over an hour. All three suspected terrorists were killed, said police, adding that a fully assembled suicide jacket, three grenades, a Kalashnikov rifle, two pistols and a large cache of ammunition were recovered from the site. Moreover, police found a diary which listed two to three high-value prospective targets. The second deceased suspect was identified as Qudratullah and the third's identity is yet to be confirmed. The CTD chief said the three slain suspected terrorists belonged to TTP cell dispatched from Afghanistan. Intelligence officials had been surveilling the cell for several days, he added. Khattab further added that the TTP cell in question is believed to have five members but only three were present at the safehouse during the raid. A search operation in the area and further investigation are under way.
News18
23-07-2025
- Business
- News18
After 20 Chinese Killed In Pakistan In 4 Years, PM Sharif Now Promises Protection
Chairing a meeting on Tuesday, Sharif underlined that the confidence of Chinese companies in Pakistan's economy is 'extremely" important for his country's future. He said that the CPEC, which has now entered its second phase, is a crucial project for both countries, Dawn reported. Calling China a 'friendly country," the Pakistani premier said that the protection of Chinese citizens was a top priority of his government. Pakistan claimed that special security arrangements have been made for Chinese nationals, including security escort facilities for their travel. The China–Pakistan Economic Corridor (CPEC) was formally launched on April 20, 2015, when Pakistan's Prime Minister Nawaz Sharif and China's President Xi Jinping signed 51 agreements valued at around $46 billion. The CPEC is one of the largest investment schemes launched under the multi-billion-dollar Belt and Road Initiative. Thousands of Chinese citizens are working on project sites of the China‑Pakistan Economic Corridor (CPEC) and major infrastructure projects across regions such as Sindh, Balochistan, and Khyber Pakhtunkhwa and have been frequently targeted in attacks launched reportedly by militants, the BLA and Pakistani Taliban. According to official data from Pakistan's anti-terrorism body, the National Counter Terrorism Authority (NACTA), at least 20 Chinese nationals have been killed and 34 injured in 14 terrorist attacks across Pakistan since 2021. What China Said On These Attacks?
Business Recorder
10-07-2025
- Business
- Business Recorder
PCJCCI underscores vast potential of food-processing sector
LAHORE: The Pakistan China Joint Chamber of Commerce & Industry (PCJCCI) today underscored the vast potential of Punjab's food processing sector as a cornerstone for bilateral economic collaboration and export growth under the China–Pakistan Economic Corridor (CPEC) during a think tank session held at PCJCCI Secretariat. Nazir Hussain, President PCJCCI emphasized Punjab's unmatched agricultural capacity, inviting deeper Chinese investment and technology transfer to strengthen value-addition and foreign exchange earnings. He further added that Punjab cultivates 57% of Pakistan's total cropland over 17 million hectares which supports 80% of the nation's wheat and 95% of citrus, 82% of guava, and 66% of mangoes. Brig. Mansoor Saeed Sheikh (retd) Senior Vice President PCJCCI said that the province contributes nearly 19% to national GDP, making its economy the largest of any Pakistani region. He highlighted that Punjab's food processing industry stands on the cusp of a transformative expansion—leveraging its massive raw agricultural output, strategic location, CPEC's infrastructural momentum, and access to Chinese technology and capital. With targeted policy support and international certification standards, the sector is poised to drive job creation, rural prosperity, and export diversification. Zafar Iqbal, Vice President PCJCCI stressed that more than 2,300 Chinese firms are operating across CPEC linked sectors in Pakistan, signalling strong investor confidence. He further said that CPEC Phase II includes robust cooperation in food processing, postharvest handling, cold storage, and mechanisation. He told that a Chinese agritech group, Sichuan Litong Food Co., plans a 1,000 acre pepper pilot in Multan with local processing plants in Lahore and Multan, targeting a US$3billion annual trade in processed food by 2026. Salahuddin Hanif, Secretary General PCJCCI reaffirmed China's strong interest in food sector JVs, emphasizing technology transfer to reduce post-harvest losses and boost exports. He also highlighted opportunities in fruit pulp, frozen concentrates, potato products, vegetable canning, olive and corn oil, IQF and called for leveraging SEZs like Sheikhupura's Quaide Azam Business Park. Promoting modern technologies like IQF freezing, cold chain infrastructure, precision agrimachinery, and seed development can boost the food sector. Copyright Business Recorder, 2025
News18
25-06-2025
- Business
- News18
Strategic Snub? China's Muted SCO Response Reveals Pakistan's Waning Influence, Fractured Alliances
Last Updated: Analysts say the shift reflects Beijing's frustration with Pakistan's perceived 'double game' on regional security and inability to deliver on initiatives like CPEC Pakistan has been facing increasing diplomatic isolation at the Shanghai Cooperation Organisation (SCO) summit, with even traditional allies like China and Russia refraining from offering support amid growing concerns over Islamabad's role in regional instability. The change in demeanour was evident when National Security Adviser (NSA) Ajit Doval explicitly named Pakistan-based terror groups Lashkar-e-Taiba (LeT) and Jaish-e-Mohammed (JeM) as major threats to regional security. The statement went unchallenged by any SCO member—including China—which has historically blocked attempts to single out Pakistan at multilateral forums. The silence was widely viewed as a strategic message from Beijing, indicating that its support for Islamabad is now conditional and dependent on broader regional considerations. According to top government sources, China's decision to remain neutral was influenced by its desire to avoid further strain with India amid efforts to stabilise bilateral ties and maintain growing trade relations. While China continues to offer military assistance to Pakistan, it has increasingly opted for diplomatic proximity to India at strategic forums. Analysts say this shift reflects Beijing's frustration with Pakistan's perceived 'double game" on regional security and its inability to deliver on key initiatives like the China–Pakistan Economic Corridor (CPEC). 'The SCO moment reflects a regional recalibration," sources said. 'India is gaining diplomatic ground, China is recalibrating its strategy, and Pakistan is being edged out due to its inconsistent foreign policy and damaged credibility." Diplomats point out that Pakistan's international standing has been weakened by a combination of factors—including erosion of democratic institutions, overreliance on military-driven foreign policy, failure to counter terrorism narratives, and its inability to maintain balanced relations with the US, China, and the Islamic world. Tehran, in particular, has expressed unease with Pakistan's engagement with the US. Iran reportedly views Islamabad's cooperation with Washington—particularly amid tensions in the Middle East—as a betrayal of broader Islamic interests, further undermining Pakistan's efforts to build coalitions based on religious unity within the SCO. Meanwhile, Russia also chose to remain neutral at the summit, signalling a growing reluctance to back Pakistan in regional disputes. Observers say both Moscow and Beijing are prioritising their evolving ties with India over traditional loyalties to Islamabad. The outcome of the SCO summit is being interpreted in diplomatic circles as a clear warning to Pakistan: unless it aligns more consistently with regional priorities—including counter-terrorism, economic cooperation, and de-escalation with India—it risks becoming increasingly irrelevant in multilateral decision-making. With major powers now engaging Pakistan largely through military channels and bypassing its civilian institutions, the country's multilateral influence appears to be diminishing. Islamabad's long-standing strategy of balancing between global powers is now under significant stress, with few allies stepping forward to shield it diplomatically. First Published: June 25, 2025, 10:08 IST
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First Post
29-05-2025
- Business
- First Post
The many ironies in Pakistan launching a Strategic Bitcoin Reserve
Across major Pakistani cities, citizens endure crippling electricity outages, yet the government has allocated 2,000 MW of surplus electricity for bitcoin mining and artificial intelligence (AI) data centres. Alongside this, there are issues related to FATF, too read more Pakistan, a nation grappling with chronic energy shortages, regulatory challenges, and financial scrutiny, has made headlines with its ambitious foray into cryptocurrency. Bilal Bin Saqib, the newly appointed Special Assistant to the Prime Minister for Crypto and Blockchain, recently unveiled the nation's Strategic Bitcoin Reserve, designed to hold digital assets as a sovereign reserve. While presented as a bold step towards embracing digital finance, the move is fraught with contradictions that border on irony. STORY CONTINUES BELOW THIS AD Lights out at home, but power for Bitcoin? Across major Pakistani cities, citizens endure crippling electricity outages, often extending beyond 12 hours daily. Amid this chronic energy crisis, the government has allocated 2,000 megawatts of surplus electricity for bitcoin mining and artificial intelligence (AI) data centres. This stark inequality points to the government's misplaced priorities, as ordinary Pakistanis grapple with high electricity bills and prolonged blackouts. The roots of this paradox lie in the country's energy infrastructure. Pakistan has significantly increased its electricity generation capacity, reaching approximately 42,131 MW by March 2024. This expansion includes coal, solar, and hydroelectric power plants, many financed under the China–Pakistan Economic Corridor (CPEC) initiative. However, the transmission and distribution infrastructure has not kept pace, leading to inefficiencies and frequent power outages. Furthermore, the energy sector is burdened by a circular debt exceeding $10 billion, resulting from a cycle of unpaid bills between consumers, distribution companies, and power producers. This financial strain hampers maintenance and upgrades of the grid, exacerbating power shortages despite surplus generation. Chinese-funded projects under CPEC have added substantial capacity to Pakistan's power sector. While these projects have increased generation, they come with high capacity payments, obligating Pakistan to pay for electricity regardless of actual consumption. This arrangement contributes to elevated electricity tariffs and financial stress on the energy sector. Balancing on FATF's tightrope Further complicating matters is Pakistan's fraught relationship with the Financial Action Task Force (FATF), the global watchdog against money laundering and terrorist financing. Historically, Pakistan has frequently oscillated in and out of FATF's grey list, indicating heightened scrutiny and ongoing compliance issues. Pakistan was first placed on the FATF grey list in 2008, then removed in 2010 after demonstrating progress. However, it was re-listed in 2012, removed again in 2015, and placed back on the grey list in 2018 due to strategic deficiencies in counter-terrorist financing. In October 2022, Pakistan was removed from the FATF grey list after significant improvements in its anti-money laundering and counter-terrorist financing frameworks. STORY CONTINUES BELOW THIS AD Now, Pakistani authorities claim to be developing a 'comprehensive, FATF-compliant regulatory framework for digital assets.' One must question the practicality of this promise, given the country's shaky track record in financial transparency. Digital currencies, inherently difficult to track, may inadvertently exacerbate the nation's existing vulnerabilities in money laundering and illicit finance. A sovereign wallet—or safe haven for questionable funds? Central to Pakistan's crypto push is the establishment of a national bitcoin wallet to hold state-controlled digital assets. According to Saqib, this reserve would signify Pakistan's confidence in decentralized finance rather than speculation. Yet, skepticism abounds about the potential misuse of this wallet. The transparency challenges intrinsic to cryptocurrency provoke concerns about the national wallet possibly becoming a repository for illicit funds. Given Pakistan's existing FATF compliance struggles, critics suggest that without rigorous oversight, the strategic bitcoin reserve could unintentionally attract illicit financial activities.
