China in tension about CPEC, warn Pakistan about it - Daily Current fairs

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Tuesday, 10 September 2019

China in tension about CPEC, warn Pakistan about it

China in tension about CPEC, warn Pakistan about it

Pakistan's Gwadar Port, built and managed by China, is now facing a very bad situation. There is a shortage of people from the ship to the port. China's COSCO shipping company has terminated its container liner services between Karachi and Gwadar due to the poor condition of Gwadar Port and delays in construction operations. China has warned Pakistan and made it clear that Gwadar is the crown of the China-Pak Economic Corridor (CPEC) and a poor port arrangement could spoil their relations with China.

COSCO Shipping Company Closes Services at Gwadar Port

China's COSCO Shipping Company has shut down its services and vessels for Gwadar Port due to inefficiencies, incessant spending on the indigenous shipping coast and rejection of goods sent by Karachi Port for movement. COSCO has alleged that due to insufficient policies and measures of Pakistan, they have decided to withdraw the service because it was affecting the market. Port operator Gwadar International Terminal Limited, COPHC (China Overseas Port Holding Corporation) has also expressed grief over the situation.

COPHC and China Overseas Port Holdings Ltd. Has made it clear to Pakistan authorities that it will be impossible for them to start a new liner service at Pakistan Port. Let us tell that Karachi-Gwadar service started the first container liner service at Gwadar Port on March 2018. The main objective of this service is to increase maritime trade through all the seaports of Pakistan. Gwadar Container Service is largely used to carry under construction goods, machinery and other cargo related to CPEC.

The meaning of Gwadar port for India

Actually, China is planning a strategy to surround India from all the three sides in the sea. Gwadar is connected to Iran, which is the main country for exporting crude oil to India. As soon as Gwadar is in control, China can obstruct the supply of crude oil coming from Iran to India whenever it wants. China has invested 75 percent or 250 million dollars to build this port. According to the agreement, this port will remain the property of Pakistan but the Chinese company will share the profits of the functioning of this port. China Overseas Port Holdings Ltd. Took control of the Gwadar port located in Balochistan province.

What is the China-Pak Economic Corridor

The China-Pakistan Economic Corridor is a very large commercial project, aimed at short-term delivery of oil and gas from Gwadar port, railway, and highway from southwestern Pakistan to China's northwestern autonomous region of Xinjiang. The Economic Corridor holds central importance in Sino-Pak relations. The corridor is approximately 2442 kilometers long from Gwadar to Kashgar. The plan is estimated to cost $ 46 billion. This corridor will go through Pakistan Occupied Kashmir, Gilgit-Baltistan, and Balochistan. According to various reports, Gwadar Port is being developed in such a way that it will be able to send 19 million tonnes of crude oil directly to China.

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