Pakistan’s economy created 5.5 million jobs during the past three years

Pakistan’s economy created 5.5 million jobs during the past three years –on an average 1.84 million jobs a year, which is far higher than yearly average of creation of new jobs during the 2008-18 decade. The data on the employment boom was revealed by Labour Force Survey (LFS) published by the Pakistan Bureau of Statistics (PBS).

Pakistani fisherman fight the mighty Chinese for food in country’s deep-sea fishing waters

While a new fishing policy is expected, local fisherman fear they will be left with no food as 12 Chinese deep-sea trawlers docked at the port of Karachi last month. Pakistani fishermen fear government’s plan to allow Chinese companies to carry out deep-sea fishing in territorial waters could threaten survival of at least three million people who depend on the sea for livelihood.

PM Imran refuses to accept Asim Bajwa’s resignation as SAPM

Prime Minister Imran Khan on Friday rejected the resignation of Special Assistant on Information Lt Gen (retd) Asim Saleem Bajwa. “The Prime Minister is satisfied with the evidence and explanation presented by Asim Saleem Bajwa,” read a statement issued by the PM’s office. The SAPM handed in his resignation to the prime minister today and requested him to relieve him of his duties as his aide.

China’s high-security compound in Gwadar indicates Naval foothold

A new high-security compound built in Gwadar, visible in recent satellite images has come to attention of international analysts. While, the compound has been identified as being used by the China Communications Construction Company (CCCC Ltd), it has anti-vehicle berms, security fences and a high wall. Sentry posts and elevated guard towers cover the perimeter between the fence and the inner wall. 

PM Imran rejects CPEC criticism, says the project “is really helping”

Prime Minister Imran Khan has claimed the China-Pakistan Economic Corridor (CPEC) “is really helping” the country, while labelling all criticisms of the project ‘nonsense’. During an interview to a US news channel CNBC, when asked if CPEC was a debt-trap for Pakistan, Mr Khan said that the Chinese came to help Pakistan when the country was “at the rock bottom.” 

Pakistan to issue $1 billion worth of China’s Panda bond in 2020

Pakistan plans its first Chinese yuan-denominated bond, also known as Panda bond in the first quarter of next year, worth about $1 billion, reflecting growing demand for the country’s debt as its economic outlook improved. This will be the first time that the government will be assessing the Chinese capital market, which is the third largest bond market in the world.

Lt Gen (retd) Asim Bajwa appointed chairman of CPEC Authority

Despite opposition’s criticism of the newly formed China-Pakistan Economic Corridor Authority (CPECA), the government announced the appointment of retired Lt Gen Asim Saleem Bajwa as its chairman. The government had established the CPECA in October to ensure timely completion of the CPEC projects. The prime minister has said the CPECA will help ensure coordination among the departments concerned.

UAE and China exploring for cooperation in CPEC projects: Chinese envoy

China and the United Arab Emirates (UAE) are exploring opportunities for cooperation under the China-Pakistan Economic Corridor (CPEC), Chinese ambassador to Islamabad Yao Jing said in an interview with Arab News.The ambassador stressed that UAE was also a partner under the Belt and Road Initiative (BRI) and has a lot of trade and economic links with Pakistan. 

China to set up 19 new factories in Gwadar

Chinese Ambassador to Pakistan Yao Jing has announced that China will be setting up 19 factories in Gwadar. Yao Jing said that the measure will help create job opportunities for Balochistan’s youth. “China seeks to contribute to the development of Balochistan’s mining, agriculture, fisheries and water sectors while the Chinese consulate is easing visa procedure for the provincial business community,” said Jing.

Multan-Sukkur (M-5) Motorway formally inaugurated during JCC meeting

During the 9th Joint Cooperation Committee (JCC) meeting, Multan-Sukkur Motorway (M5) was inaugurated after its completion under CPEC. The 392Km M-5 Motorway is CPEC’s largest transportation infrastructure project. The Six lane Multan-Sukkur Motorway will not only reduce travelling time but speed up growth in industrial and agricultural sector and will contribute to the socio-economic uplift of people in Punjab and Sindh.