ISLAMABAD: A senior Pakistani official said on Tuesday he had asked the Chinese authorities to “remove barriers” to ensure the completion of seven energy and infrastructure projects worth $12 billion, reported the local media.
Special Assistant to Prime Minister on the China-Pakistan Economic Corridor (CPEC) Khalid Mansoor told journalists a Chinese state insurer, Sinosure, was required to underwrite foreign investments but was not doing that in case of certain projects jointly carried out by the two countries.
“’I have written two separate letters to the vice chairman of National Development and Reforms Commission (NDRC) of China, urging him to remove barriers’ hindering the completion of these projects,” The Express Tribune quoted him as saying.
The projects that are waiting to be bankrolled include six energy and one infrastructure development scheme.
“We have requested China that the agreed projects should be taken to the development stage,” he told reporters.
Mansoor said in September that Chinese companies were not satisfied with the performance of Pakistan’s state institutions and their pace of work on the corridor project.
He said on Tuesday that Chinese companies working in the power sector had an overdue amount of Rs250 billion, reported Dawn.
Mansoor added the government was planning to extend the “commercial operations dates for these projects in a holistic manner because Covid-19 had created force majeure type of situation,” the newspaper said.
Pakistan urges China to ‘remove barriers’ for timely completion of energy, infrastructure projects
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Pakistan urges China to ‘remove barriers’ for timely completion of energy, infrastructure projects
- The two countries are working on a number of development schemes under the framework of the China-Pakistan Economic Corridor
- China’s state insurer, Sinosure, underwrites foreign investments but is not doing that in case of some projects carried out by Chinese companies in Pakistan
Pakistan secures $3 million to protect marine biodiversity, reform fisheries
- Global Environment Facility funding will help improve monitoring of coastal and marine ecosystems
- Fisheries contribute about 1 percent to Pakistan’s GDP but are a critical livelihood source in coastal areas
KARACHI: Pakistan has secured $3 million in funding from the Global Environment Facility (GEF) to conserve marine biodiversity and shift toward sustainable and regenerative fisheries management, Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry said on Saturday.
The funding, drawn from the GEF Trust Fund, will support a project aimed at strengthening fisheries governance, reducing environmental damage and improving monitoring of coastal and marine ecosystems. Of the total amount, $1.2 million will finance biodiversity interventions, while $1.8 million will address land degradation linked to coastal and marine areas.
“Our sector faces overfishing, high post-harvest losses, and illicit practices that strain marine environments,” Chaudhry said in a statement. “With 701 boats in tuna fishing, mostly artisanal with some semi-industrial, unselective methods and poor onboard storage lead to waste and lost market opportunities.”
“Pakistan, a key player in the Indian Ocean Tuna Commission (IOTC) and aligned with G16 like-minded coastal states, struggles with unreliable data, weak regulations, and over 70 unofficial landing sites that hinder monitoring, control and policy-making,” he added.
The minister said the program would focus on data collection, policy reform, infrastructure upgrades, capacity building and improved market access, while advancing commitments such as reducing fishing effort, expanding Marine Protected Areas and cutting bycatch.
GEF, which finances environmental initiatives under major global conventions including the UN Framework Convention on Climate Change (UNFCCC) and the Convention on Biological Diversity (CBD), supports projects in biodiversity, climate change, international waters and land degradation.
Fisheries contribute about 1 percent to Pakistan’s GDP but are a critical source of livelihoods in coastal areas.
Chaudhry said the initiative was designed to modernize the fisheries sector, improve the livelihoods of fisherfolk and align Pakistan’s marine management practices with national and international environmental commitments.
