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CHINA, PAKISTAN CELEBRATE 10TH ANNIVERSARY OF CPEC, ACKNOWLEDGE ITS BENEFITS Tuesday, 1 August, 2023 I 13 Muharram, 1445
PAKISTAN TO CONTRIBUTE TOWARDS PRESIDENT XI’S VISION OF SHARED DESTINY: PM
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ISLAMABAD
MIAN ABRAR
HINA and Pakistan on Monday signed six agreements for the promotion of bilateral cooperation as Chinese vice premier Mr He Lifeng, Prime Minister Shehbaz Sharif, Foreign Minister Bilawal BhuttoZardari, Planning Minister Ahsan Iqbal and other foreign dignitaries looked on. On the occasion, Prime Minister Shehbaz Sharif said that “Pakistan is absolutely ready to contribute towards Chinese President Xi Jinping’s vision of the shared destiny of progress and prosperity.” The premier made these remarks during the signing ceremony of six agreements and MoUs for the promotion of bilateral cooperation between China and Pakistan. PM Shehbaz said that the documents signed by the two countries were aimed at further enhancing economic relations between the two countries. He added that under the China-Pakistan Economic Corridor (CPEC), more than $25 billion worth of investment has taken place in Pakistan’s power and hydel sector, road infrastructure and public transport. Shehbaz maintained, “We are now entering the second phase of the CPEC which will envisage investments in sectors, such as, agriculture and information technology.” He added that both ML-1 and Karachi circular railway projects are of immense importance, expressing the confidence that both sides “will successfully achieve these and many other projects”. He was also confident that this will help Pakistan stand on its own feet”. The premier said both Pakistan and China enjoy a unique relationship, adding “We are all-weather friends, iron brothers and this friendship will continue and will not tolerate any obstacles in its way”. The two countries have signed six agreements and MoUs for the promotion of bilateral cooperation. The first document was signed on the joint cooperation committee (JCC) of China Pakistan Economic Corridor (CPEC) and the second document was related to the establishment of an expert exchange mechanism within the framework of CPEC. The third document was signed by the Secretary Ministry of National Food Security Zafar Hassan and the Chinese Charge
D’affaires Ms Pang Chunxue for the export of dried Chillies from Pakistan to China. Member Planning of National Highway Authority Asim Amin and Chinese Charge D’affaires Pang Chunxue signed the fourth document on the realignment of the Karakoram Highway Phase II project. Addressing the occasion, PM Shehbaz said, “I thank the Chinese president for sending his senior official to Pakistan, expressing the solidarity of people-to-people friendship between the two countries. This gesture demonstrates the strength of our friendship.” “I have no doubt that we are entering into the second phase of CPEC. Today, we have signed some important documents which will enhance our economic cooperation, and we will undertake the second phase under a new mode,” he told the gathering. The PM highlighted that the agreements would lead to investments in agriculture and IT, enabling Pakistan, with China’s support, to export items according to the requirements and standards of the Chinese government. He emphasised, “The CPEC was signed by then prime minister Nawaz Sharif and Chinese President Xi Jinping, and it was implemented promptly.” “Today, we can claim that under the CPEC, more than $25bn investment took place in power, energy, public transport, and other sectors.” He also expressed gratitude to the Chinese vice premier for visiting Pakistan as the two countries celebrate ten years of the
KSE-100 index surges past 48,000 mark in almost two years g
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CPEC. After the ceremony, delegation-level talks were held by PM Shehbaz and He Lifeng which encompassed multiple areas of bilateral cooperation. PM WELCOMES CHINESE VICE PREMIER: On Monday morning, the Chinese vice premier was accorded a welcome after he arrived at the Prime Minister’s House in Islamabad to meet PM Shehbaz Sharif. The premier received the foreign dignitary at the main entrance of the PM House. Upon He Lifeng’s arrival, the prime minister introduced his delegation comprising federal cabinet members Bilawal BhuttoZardari, Ishaq Dar, Rana Sanaullah, Syed Naveed Qamar, Ahsan Iqbal, Saad Rafiq, Marriyum Aurangzeb, Hina Rabbani Khar and Tariq Fatemi to the Chinese vice premier. Taking to Twitter, the PM “warmly welcomed” the Chinese vice premier and the members of his delegation. “They are visiting Pakistan to join us in celebrating the 10th anniversary of CPEC and witnessing first-hand the transformations brought about by this game-changing initiative,” PM Shehbaz said. Earlier, the FO had also acknowledged Lifeng’s “prominent role” in China’s international economic relations and implementation of the Belt and Road Initiative, of which CPEC is a flagship project. As the chairman of China’s National Development and Reform Commission from 2017 to 2023, he was “instrumental in the planning and execution of multiple CPEC
PROFIT
On Monday, the Pakistan Stock Exchange’s key KSE-100 index surpassed the 48,000 level for the first time in nearly two years, showing a remarkable gain of over 900 points. The index reached 48,034.59 points, closing with a 2.03 per cent increase from the previous day’s close of 47,076.99 points. Arif Habib Corporation noted that it had been 24 months since the stock market reached this milestone, last achieved on August 23, 2021. Salman Naqvi, the Head of Research at Aba Ali Habib Securities, attributed the current market rally to strong buying activity in the energy sector. He mentioned that the International Monetary Fund’s pressure on reducing the circular debt and the government’s measures were driving the interest in the exploration and production sector. Additionally, the
projects in Pakistan”, the FO had said. It had added that his visit was a part of regular high-level exchanges and dialogue between Pakistan and China and reflected the importance attached by both countries to further deepen their “all-weather strategic cooperative partnership, enhance economic and financial cooperation, advance highquality development of CPEC and explore new avenues for strengthening trade and investment ties”. SECURITY BEEFED UP: According to the security details, around 2,716 personnel of police, Dolphin Force, Frontier Constabulary and Pakistan Army will be deployed to ensure foolproof security along the route and venues where the Chinese vice premier will stay and attend the ceremony. Along with the Islamabad police, the Rawalpindi police will also perform security duties along the 39.5km route from Islamabad International Airport to the Punjab House. As per the details, 10 superintendents, 18 security superintendents and 104 Dolphin Force personnel will be part of the security
duties. The bomb disposal squad of the police’s special branch will sweep all bridges, culverts, underpasses, nullahs, metro bus stops, and other places along the route before the movement of dignitaries. No vehicle will be parked along the route during the movements and security officials will report any suspected person or vehicles to senior officers. The security personnel posted along the route will carry reflecting jackets, raincoats, bulletproof helmets and jackets, whistles and torches. Extra security will be ensured at sensitive points identified in the security plan. They will not be allowed to use mobile phones and have to display their official cards at all times. Policemen will also be deployed on rooftops of high-rise buildings. They will be equipped with binoculars, wireless sets, and G-3 rifles. A dedicated command and control room has been established by the Islamabad Safe City Authority to supervise security arrangements during the movement and stay of the delegation.
Six MoUs signed during Vice-Premier He Lifeng’s visit. What do they entail? PROFIT
GHULAM ABBAS
In a significant move to enhance bilateral cooperation and foster stronger economic ties, Pakistan and China signed six memorandums of understanding (MoUs) on Monday. The occasion marked the 10-year celebrations of the China Pakistan Economic Corridor (CPEC), a multi-billiondollar initiative aimed at bolstering infrastructure and connectivity between the two brotherly countries. As per details shared by officials of Ministry of Planning and Development, the the MoUs were formalized at a ceremony held at the Prime Minister’s Office, following a meeting between Chinese Vice-Premier He Lifeng and Prime Minister of Pakistan, Muhammad Shehbaz Sharif. Vice-Premier He Lifeng’s three-day visit to Pakistan commemorates the decade-long partnership between the two nations in implementing the CPEC. The signing ceremony witnessed the
presence of a high-level Chinese delegation, led by the Chinese Vice Premier, along with members of the federal cabinet and senior officials from various ministries. Among the signed documents, one included the minutes of the 11th Meeting of the Joint Cooperation Committee (JCC) on CPEC, which took place on October 27, 2022. This document outlined the decisions and outcomes of the meeting and was signed by Mr. Cong Liang, Vice Chairman of China’s National Development and Reform Commission (NDRC), and Professor Ahsan Iqbal, the Minister for Planning, Development & Special Initiatives of Pakistan. Knowledge sharing: Another MoU aimed to establish an Expert Exchange Mechanism within the Framework of the CPEC. The objective was to facilitate knowledge sharing between the Ministry of Planning, Development & Special Initiatives of Pakistan and the NDRC of China.
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Judicial inquiry sought over IUB scam LAHORE
STAFF REPORT
STRONG BUYING IN ENERGY SECTOR PROPELS PAKISTAN STOCK MARKET TO NEW HEIGHTS STAFF REPORT
PAKISTAN, CHINA SIGN SIX AGREEMENTS TO BOOST BILATERAL COOPERATION
net buying in the market had seen an increase after a prolonged period. Furthermore, Naqvi highlighted that various international delegations, including the Chinese vice premier, were visiting Pakistan, and agreements on refineries and minerals were anticipated as part of the China-Pakistan Economic Corridor (CPEC) initiative. Siddique Dalal, the CEO of Dalal Securities, also shared positive news that contributed to the market’s performance. Firstly, there were reports of releasing Rs 400 billion to reduce the circular debt, which would provide funds to the oil sector, leading to higher dividends. Secondly, a collaboration between four Pakistani state-owned enterprises and Saudi Arabia for a significant $10 billion refinery project within Pakistan boosted market sentiment. However, Dalal warned that the upcoming monetary policy announcement might create a hurdle in the market’s performance.
A writ petition was filed at the Lahore High Court (LHC) on Monday, urging the formation of a judicial commission or committee comprising sitting high court judges to investigate an alleged scam involving drug peddling and sexual harassment at Islamia University Bahawalpur (IUB). The petitioner, Mushkoor Hussain, filed the petition through advocate Nadeem Sarwar, naming the province of Punjab through the Chief Secretary, Punjab Inspector General of Police (IGP), Director General of the Federal Investigation Agency (FIA), caretaker Punjab Chief Minister and Vice Chancellor of IUB as respondents. According to the petition, the incident came to light a few weeks ago when the police arrested IUB’s chief security officer and allegedly found crystal methamphetamine (commonly known as ice) and aphrodisiacs in his possession, along with a significant number of objectionable videos involving university officials and students on his
two mobile phones. The arrest occurred after the police stopped a car at a checkpoint of Baghdadul Jadeed police station. According to the FIR registered on the complaint of Sub Inspector Muhammad Afzal Nawaz, the car driver attempted to flee but was intercepted by the police. Upon searching the vehicle, the police discovered 10 grams of ice and aphrodisiacs in the driver’s possession, who later identified himself as the IUB chief security officer, Ijaz Shah. Further investigations revealed that the suspect’s mobile phones contained numerous objectionable videos and images of women. The suspect confessed to using and selling drugs and claimed that the objectionable material involved officials from various departments at IUB, as well as female students. Shah revealed that he used to monitor the security cameras of the university, using the footage of female students hugging, smoking with friends under trees, and near university buildings. These videos were then used to blackmail the students, threatening to share them with their parents.
Moreover, Shah was accused of arranging sexual exploitation encounters with influential gang members, including the son of federal minister Chaudhry Tariq Bashir Cheema. The appalling situation had been ongoing for a significant period. The investigation also exposed the involvement of professors and staff members of the university in the gang. Following the incident, the caretaker CM formed a three-member committee, consisting of Secretary Minerals Babar Aman Babar, Deputy Inspector General (DIG) Amin Bukhari, and DIG Raja Faisal, to investigate the matter. Simultaneously, the university also initiated an internal committee to probe into the scandal and suspended two officials who were arrested by the police. Critics have expressed concern over the investigation, pointing out that only a case has been registered under CNSA 1997 against the chief security officer, while overlooking the registration of a case under PECA 2016 against all individuals involved in the filming and dissemination of objectionable content.
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Chinese Vice Premier conveys President’s Xi message of firm support to Pakistan ISLAMABAD
STAFF REPORT
Chinese Vice Premier Mr He Lifeng conveyed President Xi Jinping’s message of China’s firm support to Pakistan’s prosperity and development. During his bilateral meeting with Prime Minister Shahbaz Sharif here on Monday, Vice Premier He Lifeng underlined that PakistanChina friendship was unique and had withstood the vicissitude of time due to deep fraternal ties between the peoples of two nations. He reiterated that as an iron-brother and strategic partner, China would continue its existing economic and financial support to Pakistan. Welcoming the prime minister’s vision for deepening trade and investment ties with Pakistan, the Chinese vice premier conveyed China’s willingness to enhance Pakistan’s agro and food exports to China. Both leaders expressed satisfaction at the steady development of CPEC projects in Pakistan, agreed on its centrality for Pak-
istan’s socio-economic development. The bilateral ties including the CPEC were discussed in a meeting between Shehbaz Sharif and He Lifeng. At the invitation of the Government of Pakistan, the Special Envoy of President Xi Jinping He Lifeng was visiting here to attend the 10th-anniversary celebrations of China Pakistan Economic Corridor (CPEC). Both sides expressed their firm commitment to continue working together for realizing the shared objectives of the CPEC. It was also agreed that 10th anniversary of CPEC celebrations constituted a fresh starting point to further expand CPEC as envisaged by the leadership of the two countries. The conversation was marked by traditional warmth and cordiality that has been the hallmark of Pakistan-China All-Weather Strategic Cooperative Partnership. During the meeting, the two sides exchanged views on several aspects of bilateral relationship including CPEC and bilateral economic and financial cooperation.
Welcoming Vice-Premier He Lifeng to Pakistan, the prime minister congratulated him on being promoted as the Vice-Premier of China in March this year. Appreciating China’s support for Pakistan’s economic development, the prime minister observed that as strategic partners and trusted friends, the two countries have always stood by each other in difficult times, as evidenced by Chinese support to Pakistan in the aftermath of COVID-19 pandemic and devastating floods in Pakistan. Noting the unanimity of views between the two countries on regional issues, both leaders reiterated their resolve to support each other on all issues of their core interests. The Chinese delegation included Guo Wei, Deputy Secretary General of the State Council of China, Sun Weidong, Vice Minister of Foreign Ministry, Cong Liang, Vice Chairman National Development & Reform Commission, Xuan Changneng, Deputy Governor of the People’s Bank of China, Wang Kebing, Deputy Governor of the People’s
Bank of China, Wang Liping, Director General of the Department of Asian Affairs of the Ministry of Commerce, Pang Chunxue,
Charge d’Affaires, Chinese Embassy Islamabad and other senior Chinese officials.
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