On July 26, Indian officials accused Pakistan and China of involving other countries in the China-Pakistan Economic Corridor (CPEC) project, but India’s territory belongs to India and has been illegally occupied by Pakistan. Insisted that there was. ..
India’s foreign affairs spokesperson, Arindam Baguchi, said third-party participation in CPEC “directly violates India’s sovereignty and territorial integrity.”
Bagchi said the Indian government “resolutely and consistently opposes the so-called CPEC project” passing through the conflict areas of Jammu and Kashmir.
“Such activities are inherently illegal, illegal, unacceptable and will be treated accordingly by India,” he said. Written statement..
Bagchi’s remarks came after Pakistan and China announced on July 22 that they would invite a third country to a multi-billion dollar infrastructure CPEC project for “mutually beneficial cooperation.”
In writing statementPakistan’s Foreign Ministry said the CPEC was “the flagship of the Belt and Road Initiative” and broke new ground for strengthening international and regional ties, especially with regard to expansion into Afghanistan.
China debt trap
CPEC is part of the Belt and Road Initiative (BRI) launched by Chinese leader Xi Jinping in 2013. Other countries, including the United States, have criticized the BRI infrastructure program as a “debt trap” for small countries.
China has invested more than $ 62 billion in infrastructure under CPEC, including the construction of a deep-sea port in Gwadar that triggered a major protest in November 2021.
The US-based think tank Foreign Policy Institute July report “Only a handful” of Pakistani BRI-funded transportation infrastructure projects have been completely completed so far.
“Therefore, Pakistan’s trade deficit with China swelled by more than 164% between 2013 and 2021, but it is difficult to attribute the deterioration to the BRI,” said a researcher at the Foreign Policy Institute. Felix K. Chan said.
Pakistan participated in a $ 6 billion financing program with the International Monetary Fund (IMF) in July 2019 after the balance of payments crisis. However, funding was stalled due to issues surrounding the necessary reforms.
Islamabad is in talks with the IMF to revive the Relief Package Fund. In May, Prime Minister Shebaz Sharif said Pakistan’s external debt had reached a level that even future generations could not repay.
“The government of Imran Khan has taken so many loans that our generation may not be able to pay them,” Sharif said in a public speech, referring to his predecessor.
Massive protests against CPEC broke out in November 2021 As the locals objected The government has licensed Chinese trawlers fishing near Gwadar.
They also protested the serious shortage of drinking water and electricity, restricted movement, and restricted access to the sea due to the high level of safety of CPEC passing through the state.
The protests were eased after the government agreed to most of the protesters’ demands in December.
Reuters contributed to this report.
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Aldgra Fredly is a Malaysia-based freelance writer featuring the Epoch Times Asia Pacific News.