 "Gwadar Port, Pakistan")
A general view of Gwadar Port, a key strategic hub in CPEC infrastructure, in Gwadar, Pakistan. Photo: Reuters
Pakistan on Thursday approved an additional budget of 45 billion Pakistani Rupees (PKR), or about $162 million, for the cash-strapped country’s armed forces, mainly to strengthen their capacity to protect Chinese commercial interests in Pakistan and manage the fencing along international borders, Pakistani publication The Express Tribune has reported.
Out of the PKR 45 billion, an amount of PKR 35.4 billion will be allocated to the Pakistan Army and PKR 9.5 billion to the Pakistan Navy for various purposes, according to a decision taken by the Economic Coordination Committee (ECC) of the Cabinet, chaired by Pakistani Finance Minister Muhammad Aurangzeb.
The ECC also approved PKR 16 billion for the Special Security Division South, responsible for safeguarding the China-Pakistan Economic Corridor (CPEC) in the southern regions. Another PKR 8 billion was allocated to the Special Security Division North, tasked with protecting CPEC in northern areas.
Beijing has also proposed the establishment of a joint company to ensure the security of Chinese citizens already working in Pakistan or those who will be engaged in the future during CPEC phase-II.
Under CPEC phase-I, China and Pakistan have completed 38 projects worth $25.2 billion. Out of these, 17 projects, valued at $18 billion, belong to the energy sector.
The ECC also approved PKR 9.9 billion for the military in lieu of its internal security duty allowance. Meanwhile, an amount of PKR 1.5 billion was approved for managing fencing at international borders.
The ECC also sanctioned PKR 9.5 billion for the Pakistan Navy’s Jinnah Naval Base Ormara and PKR 1.2 billion for the Naval Air Station in Turbat. The Pakistan Air Force will receive PKR 150 million for internal security duty allowances.
The China-Pakistan Economic Corridor (CPEC), launched in 2015 as part of China’s Belt and Road Initiative, is a key infrastructure project aimed at enhancing economic connectivity between China and Pakistan through roads, railways, pipelines, and energy projects.
First Published: Oct 04 2024 | 5:19 PM IST
