ISLAMABAD: The Pakistan Economy Watch (PEW) on Monday lauded the stance of the government of Pakistan over China-Pakistan Economic Corridor (CPEC) after the US criticism terming it encouraging and according to the national interests.
The US should understand that Pakistan cannot abandon this most important regional project which has potential to turnaround our troubled economy, it said.
President PEW Dr. Murtaza Mughal said that the American opposition to the CPEC will not remain confined to statements and she would do everything to reverse it for which Pakistan and China must be prepared.
He said that the latest US statement against CPEC has come at a time when President Trump was claiming that his country and Pakistan had never been so close as now that exposes duplicity in policies.
Dr. Murtaza Mughal said that Pakistan can never ditch China to please the US as both countries have a long history of helping each other in difficult times while handing over Gwadar Port to the US is out of question.
He added that CPEC will benefit Pakistani economy while China’s international trade will be facilitated which will add to the global influence of Beijing which is not acceptable to the US.
For the same reason handle like FATF is being used against Pakistan as it is an open secret that most of the dirty money finds refuge in the US and UK but FATF will never raise any objection about it, he observed.
Most of the dollars received through the US in the shape of grants and loans find their way back to the US leaving Pakistan in debt but China has never resorted to such exploitation, he said, adding that Chinese support to infrastructure projects in Pakistan are visible to everyone.
Dr. Mughal said that west is worried about the Chinese economic model which has the capacity to replace the crumbling capitalism which has fanned aggravated poverty, frustration, and conflicts.
Presently eight billionaires own more money than half of the global population while the crisis after crisis has become order of the day which snatches money from poor and adds it to the coffers of the rich.
Developed nations are not interested in reforming the free market system but trying best to keep it intact which seems difficult, he said.
