ISLAMABAD: The coronavirus pandemic has resulted in a delay of at least eight weeks in the implementation of the multibillion-dollar China-Pakistan Economic Corridor (CPEC) projects, a senior government functionary said on Friday, as he hoped that the problem would be fixed through effective mobilization of resources.
Thousands of Chinese workers have returned to Pakistan through special flights to resume work on different infrastructure projects after spending the Chinese new year holidays in their hometowns.
“We are estimating a maximum eight weeks of delay in different development projects due to the coronavirus pandemic,” Dr. Liaqat Ali Shah, CPEC’s Project Director, told Arab News on Friday.
The Chinese workers, who have been dealing with different CPEC projects, were stuck in different cities of their country when Beijing suspended the international flight operation in January due to the spread of the virus.
China has already developed a “double quarantine policy” for all its engineers and other workers in Pakistan.
“The Chinese travelling to Pakistan spend fourteen days in quarantine in China, and then they are also placed in quarantine for another fourteen days in Pakistan,” Shah said, adding that “effective measures” were in place to stem the spread of the virus in Pakistan's cities.
The project director said that the Chinese companies would place their workforce in quarantine at their respective project sites. “We don’t allow them to mix with the local population,” he said.
About the number of Chinese returning to Pakistan since February, he said that they were “in the thousands,” though he did not have the exact statistics.
Pakistan and China signed the $46 billion CPEC agreement in 2015 which later expanded to at least $62 billion. The infrastructure development projects include roads, railways, seaport, pipelines, industrial units and airports.
China plans to link its landlocked western region of Xinjiang to the Arabian Sea through the corridor project.
Shah said that Pakistan was mobilizing all the available resources to cover the time gap of eight weeks in different projects. “The work on all projects, including the transmission lines, roads and hospitals, is now in full swing,” he said.
The government has also constituted joint working groups and task forces to expand the scope of development projects by negotiating new schemes with the Chinese government.
In the next phase, Pakistan is planning to include development of agriculture, science and technology and petroleum sectors to boost its fragile economy and create job opportunities for both skilled and unskilled labor.
“At the moment, different studies are underway to include new projects related to agriculture and oil refineries in CPEC,” Shah said while dispelling the impression of any undue slowdown in the development schemes.
Coronavirus delays CPEC projects for about eight weeks — official
https://arab.news/mecav
Coronavirus delays CPEC projects for about eight weeks — official
- Says thousands of Chinese workers have returned to Pakistan to resume work
- Chinese workers dealing with corridor projects in Pakistan are quarantined at their project sites for fourteen days
JazzCash signs deal with Binance in UAE to explore regulated crypto adoption in Pakistan
- MoU focuses on awareness and development of compliant virtual-asset solutions in Pakistan
- Pakistan introducing licensing regime for crypto firms as it formalizes digital-asset oversight
ISLAMABAD: Pakistani financial-technology platform JazzCash has signed a memorandum of understanding with global cryptocurrency exchange Binance in the United Arab Emirates to explore cooperation on virtual-asset use and education in Pakistan, the company said on Wednesday.
The agreement sets a framework for discussions on awareness campaigns and future digital-asset products that would comply with Pakistan’s emerging crypto regulations. The move signals growing engagement between global blockchain companies and Pakistani fintechs as authorities shift toward formal licensing of the sector.
Pakistan has spent the past year drafting rules to regulate the fast-expanding market for digital coins and tokens, requiring virtual-asset service providers to obtain government approval. Officials say the transition is aimed at curbing money-laundering and terror financing risks, boosting transparency and encouraging responsible innovation.
“JazzCash has always championed technologies that expand financial access while promoting secure and inclusive participation in the digital economy," JazzCash Chief Executive Officer Murtaza Ali said.
“By entering into this exploratory MoU with Binance, we are advancing our efforts to understand how global digital-asset trends can support Pakistan’s evolving regulatory landscape. We aim to engage responsibly, support regulatory progress, and advance opportunities that build trust, transparency and innovation for our customers.”
The MoU does not establish a commercial partnership, but marks one of the most high-profile engagements between Pakistan’s fintech sector and a global crypto exchange as the country moves toward regulated digital-asset adoption.
Binance welcomed the cooperation, framing it as part of Pakistan’s shift toward regulated digital-asset activity.
"With regulatory frameworks like [Pakistan Virtual Assets Regulatory Authority] PVARA paving the way, this collaboration represents a significant step toward expanding financial inclusion and empowering more people to access the benefits of blockchain technology in a secure and compliant environment," Binance Chief Marketing Officer Rachel Conlan said.
Earlier this month, Binance executives met Pakistani finance officials to discuss digital-payments reform, blockchain-skills training and the potential for Web3-linked jobs. Pakistan also set up the Pakistan Crypto Council and formed PVARA this year to license and supervise crypto-asset service providers.
