Stories about CPEC

Can PTI’s mini-budget get the economy out of the ICU and into the ‘recovery room’?

Pakistanis love to bash politics and politicians whenever they face any problem. Slogan after slogan, martyrdom, militarism and affluent status quo is what three generations of Pakistanis have seen. So when Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) claimed to make policies focusing on “uplifting the lower middle class”, even the PTI voters were somewhat sceptical. Alas, critics can be shushed, the mini-budget is out and looks like PTI may have delivered what it promised. Before the official mini-budget announcement, many people were criticising the government for its decision to raise gas prices and income taxes, however, they did not see ...

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It’s not you, it’s me: Why did India refuse Pakistan and UAE’s aid?

The Indian state of Kerala, known as God’s own country, has become the victim of nature’s wrath and is experiencing the worst floods of the century. Thus far, the floods have left 445 people dead and dozens missing. In the hilly regions, floods have caused landslides which have exacerbated the destruction of homes, bridges and road networks. Around 1/6th of the population of the state has been directly affected, and the central government has declared it a level-3 calamity, which clearly indicates the severity of the catastrophe.  First of all, it is worth exploring why God’s own country has come under God’s ...

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For PM Imran Khan: A guide on how to fix the unfixable

There is a new sense of optimism in Pakistan. Many in the country are looking to the government of Imran Khan to reform the way the country works and put it back on the track of development and prosperity. The new government has signalled a willingness to think outside the box. This means trying to do what has not been done before. It means going against vested interests, the ‘rent seekers’ who have used their influence to accumulate power and enormous wealth. And finally, it also means going against established international ‘norms’ of behaviour as defined by the ‘Washington Consensus’. First ...

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The $$$ conundrum: Why are currencies around the world depreciating against the dollar?

For the past few weeks, there has been an ongoing verbal war between the American President Donald Trump and Turkish President Tayyip Erdogan. The former has been pushing for the release of American Pastor Andrew Brunson from Turkish prisons. Brunson has been imprisoned in Turkey since 2016 on charges of aiding a Turkish coup against Erdogan, which was ultimately unsuccessful. Additionally, in his drive to make America great again, Trump has imposed sanctions and tariffs on Turkish imports. Consequently, there has been a drop in the value of the Turkish lira against the US dollar. President Erdogan has taken full advantage of the ...

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In the US-China trade war, Pakistan and the global economy will be the casualties

The year 2017 ended on a positive note, with some major economies leading the “broadest synchronised global upsurge since 2010”, according to the International Monetary Fund (IMF). Markets reacted positively to the improved global economic outlook, giving rise to a flare of optimism in the investor community. Halfway through 2018, however, and the global economic scenario now paints a different picture. China just lost its spot to Japan for the second largest stock market in the world, amid rising tension over the trade war concerns between the two major superpowers. Donald Trump seems to be on board to fulfil his promise ...

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Can Imran Khan fix 71 years of failed talks, bloodshed and hatred?

Imran Khan’s victory in the recently concluded General Elections went as per preordained script. The arrest of Nawaz Sharif and his daughter in a money laundering case practically sealed the deal. The Supreme Court has debarred him from contesting elections for life, virtually putting an end to the political career of the former prime minister. It is alleged that Imran enjoys the confidence and support of the establishment which paved the way for Pakistan Tehreek-e-Insaf (PTI) to emerge victorious. The opposition has questioned the legitimacy of the elections, especially where it is alleged that widespread rigging was allowed to take ...

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Political parties are promising jobs in their manifestos but snub education – how does that work?

Pakistan has one of the largest youth population in the world. Forty-six million of these will be voting for the first time in about two weeks; a number that is by no means small. To put it into perspective, if these voters were a country, they would be the 30th largest country in the world in terms of population. They will most likely vote for the party that has promised them jobs, and no one can fault that logic because jobs get you money and as we all know, money makes the world go around. But there is a slight ...

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Why do Pakistanis think Asad Umar’s claim of 10 million jobs is impossible and impractical?

While outlining the 100-day agenda shared by the Pakistan Tehreek-e-Insaf (PTI) recently, Asad Umar spoke about the possibility of creating 10 million jobs in five years.  He mentioned promoting tourism and announcing new destinations in an attempt to produce thousands of employment opportunities for the youth. He also mentioned making an extra effort to attract investors in Pakistan and creating an economic link with China through China-Pakistan Economic Corridor (CPEC). Ultimately, enhanced investments and exports would create a bulk of jobs for the unemployed youth of Pakistan. Hue and cry, sarcasm and ridicule poured in over his statement, with the consensus ...

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Is China making Pakistan a client-state with its ‘debt-book diplomacy’?

In Pakistan, China is the most active and positive economic force. So much so that continued cooperation between the two countries is supported by virtually all sides of this otherwise deeply divided country. Everyone from the Taliban to the secularist military leaders view Chinese investment as a boon to the country, the main source of job creation, and, in all truth, the most promising source of kickbacks for themselves. It certainly is the case that the infrastructure projects part of China’s One Belt One Road (OBOR) initiative are the most significant economic development stimulus in the economically underdeveloped country, and the ...

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Gwadar: From ghost town to gold rush town

From the sky, Gwadar looks like a dust bowl as the ATR aircraft, which regularly flies along the Makran coast from Karachi, circles in for landing. The new airport, currently being designed, will be the largest in Pakistan once it is completed, but for now one has to settle for the old airport. Its VIP section is used often as ministers, senators and even the prime minister and the army chief regularly visit this once sleepy fishing port. They have all proclaimed Gwadar to be the jewel of the upcoming China-Pakistan Economic Corridor (CPEC). The drive from the airport along the newly ...

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