경제난 파키스탄, 결국 중국 일대일로 사업 축소 조치..."20억 불 규모" VIDEO: Pakistan Cuts Chinese ‘Silk Road’ Rail Project by $2 Billion Because of Debt Concerns

Pakistan Cuts Chinese ‘Silk Road’ Rail Project by $2 Billion Because of Debt Concerns

BY REUTERS

October 1, 2018 Updated: October 1, 2018    

LAHORE, Pakistan—Islamabad has slashed the size of the biggest Chinese “Silk Road” project in Pakistan by $2 billion, Railways Minister Sheikh Rasheed said, citing government concerns about the country’s debt levels.

Pakistan Today

Pakistan rethinks its role in China's Belt and Road plan: Financial Times

https://www.straitstimes.com/asia/south-asia/pakistan-rethinks-its-role-in-chinas-belt-and-road-plan-financial-times

경제난 파키스탄, 결국 중국 일대일로 사업 축소 조치..."20억 불 규모" 셰이크 라쉬드 파키스탄 철도부 장관.    경제난에 시달리는 파키스탄이 중국과 추진해온 철도 등 일대일로 사업을 축소하기로 했습니다. 로이터 통신에 따르면 셰이크 라쉬드 파키스탄 철도부 장관은 1일 일대일로 철도 사업 규모를 82억 달러에서 62억 달러로 20억 달러를 줄였다고 밝혔습니다. 라쉬드 장관은 “파키스탄은 엄청난 채무를 감당하기 어려운 가난한 나라”라며 앞으로 철도 사업 규모를 20억 달러 더 줄이기를 바란다고 말했습니다. 중국과 파키스탄은 그동안 카라치에서 북서부 도시 페샤와르까지 1천872㎞ 구간의 철도를 개조하는 사업을 추진해왔습니다. 앞서 파키스탄에서는 지난 8월 새로운 임란 칸 정부가 출범한 이래 중국과의 일대일로 사업을 재검토해왔습니다. VOA 뉴스

edited by kcontents

The change is part of Islamabad’s efforts to rethink the One Belt, One Road initiative (OBOR, also known as Belt and Road) projects in Pakistan, where Beijing has pledged about $60 billion in financing but the new government of populist Prime Minister Imran Khan appears to be more cautious about the investment.

“Pakistan is a poor country that cannot afford the huge burden of the loans,” Rasheed told a news conference on Oct. 1 in Lahore.

“Therefore, we have reduced the loan from China under CPEC for rail projects from $8.2 billion to $6.2 billion,” he added, referring to the China-Pakistan Economic Corridor (CPEC).

Zee News - India.com

edited by kcontents

The mega-project to revamp the colonial-era line that stretches 1,163 miles from Karachi to the northwestern city of Peshawar was initially priced at $8.2 billion, but wrangling over costs has led to delays. Rasheed said the government remains committed to the Karachi-Peshawar Main Line-1 (ML-1) project, but added that he wishes to further reduce the cost to $4.2 billion from $6.2 billion.

Islamabad has balked at the financing terms and has pushed for deeply concessional loans for ML-1. It also invited third countries to join or for the Chinese to be investors in the project, through a build-operate-transfer model that would rely less on debt.

The United States has criticized OBOR projects, warning that the loans could turn into debt traps for poor countries unable to pay them money back.

“CPEC is like the backbone for Pakistan, but our eyes and ears are open,” Rasheed said.

The ML-1 is the spine of the country’s dilapidated rail network, as well as the biggest source of revenue. Pakistan’s rail system has struggled to break even for decades as passenger numbers plunge, train lines close and the vital freight business nosedives.

Since 2013, China has launched OBOR construction projects across more than 60 countries, seeking a network of land and sea links with Southeast Asia, Central Asia, the Middle East, Europe, and Africa.

By Mubasher Bukhari

https://www.theepochtimes.com/pakistan-cuts-chinese-silk-road-rail-project-by-2-billion-due-to-debt-concerns_2675325.html

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