Pakistan shocks the Dragon Country!
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Are relations between Dragon country and the Pakistan straining? The recent developments raise doubts over the possibility of the Diamer-Bhasha Damn project that China and Pakistan intended to build in the PoK (Pakistan Occupied Kashmir).
Pakistan is having a tough time to procure funding resources from International agencies like the World Bank, after India’s stand against the CPEC between China and Pakistan.
Pakistan has pulled out itself after the Chinese government put forth strict restrictions. Muzammil Hussain, Chairman of Water and Power Development Authority (Wapda) briefed the Public Account Committee (PAC) of Pakistan that the financing from Chinese Banks was against the interests of Pakistan. ‘The norms and restrictions the Chinese Banks have placed for funding the Diamer-Bhasha Damn were not under doable conditions. They were against the interests of our nation,’ said Muzammil.
Muzammil stated that ‘The Chinese government is aiming to take the ownership, operation, and maintenance of the Diamer-Bhasha Dam by pledging another operational dam.’
The official stated that the Prime Minister Shahid Khaqan made a decision to fund the dam using the country’s financial resources.
The recent move came ahead of the 7th JCC (Joint Cooperation Committee), the highest decision-making body of the China-Pakistan Economic Corridor (CPEC).