Using the yuan for bilateral China-Pakistan trade

Venturing to replace the U.S. dollar with the Chinese yuan for bilateral trade between Pakistan and China, the State Bank of Pakistan recently announced that all arrangements for the change-over were already in place. Having considered the Chinese proposal to use the renminbi for some time, a comprehensive bank policy was prepared whereby public and […]

On CPEC projects, now it is Pakistanis who need security clearance, not foreigners

Police in the Pakistani province of Punjab is set to start the process of vetting and issuing security clearances to any locals who would work with Chinese nationals on CPEC projects. The unusual move of security vetting locals instead of foreign citizens comes a month after a Chinese engineer went missing from a power plant […]

With CPEC in mind, PIA to start Islamabad-Gwadar flights

KARACHI: Amid demand emanating from the China-Pakistan Economic Corridor (CPEC), Pakistan International Airlines (PIA) is set to start direct flights from Islamabad to Gwadar as the national carrier looks to gain air traffic and reduce its losses. The cash-strapped national carrier faces more than Rs319.1 billion in accumulated losses by the end of March 2017, but […]

CPEC’s Long-term Plan matches seven pillars of Vision 2025: Iqbal

BEIJING: Federal Interior Minister Ahsan Iqbal, who also holds the Planning, Development and Reform portfolio, has emphasised that the Long-term Plan of the China-Pakistan Economic Corridor (CPEC) is completely in line with the seven pillars of Vision 2025, which is based on economic principles of inclusive and sustainable development. “CPEC will greatly speed up industrialisation and […]