China stops funding CPEC road projects over graft issue: Report

Agencies
December 5, 2017

Dec 5: China has decided to temporarily stop funding at least three major road projects in Pakistan, being built as part of the USD 50 billion China-Pakistan Economic Corridor, following reports of corruption, a decision that has left officials in Islamabad "stunned", a media report said today.

The decision by the Chinese government is likely hit over Rs 1 trillion-worth road projects of the Pakistan's National Highway Authority(NHA), and initially, may delay at least three such ventures, Dawn newspaper reported.

According to a senior government official, the funds would be released after Beijing issues 'new guidelines'.

The nearly USD 60 billion CPEC, a flagship project of China's prestigious One Belt One Road, passes through Pakistan -occupied Kashmir (PoK). It links China's restive Xinjiang region with Pakistan's Balochistan province.

The road projects that are likely to be affected include 210-km-long Dera Ismail Khan-Zhob Road, being built at an estimated cost of Rs 81 billion. Of this, Rs 66 billion would be spent on construction of road while Rs 15 billion on land acquisition.

The other project which is going to be hit is 110-km-long Khuzdar-Basima Road, having an estimated cost of Rs 19.76 billion.

The third project is Rs 8.5 billion worth, the remaining 136-km of Karakarom Highway (KKH) from Raikot to Thakot.

Originally, all the three projects were part of the Pakistan government's own development programme, but in December 2016, the NHA spokesperson had announced that they would be included under the CPEC umbrella so as to become eligible for concessionary finance from China.

"The funds for the three road projects were approved in the 6th Joint Cooperation Committee meeting held last year, pending necessary procedural formalities.

"It was expected that the funding of the three projects would be finalised during the Joint Working Group (JWG) meeting held on November 20, but Pakistan was informed in the meeting that 'new guidelines' will be issued from Beijing under which new modus operandi for release of the funds will be described," the official was quoted as saying by the newspaper.

The decision of the Chinese government was conveyed to Pakistan in the JWG meeting and the existing procedure for release of funds had been abolished, he said.

Under the previous procedure, the projects were to be approved by six different forums after which the funds were released, the official added.

"In fact, the Chinese authorities informed us that the previous procedure of release of funds was meant for early harvest projects only and new guidelines will be issued for future projects of the CPEC," the official said.

The official said the Pakistani side was left "stunned" when informed about this development, as it was the first time they were hearing it.

He, however, claimed that Chinese side was quite disturbed with media reports, published in Pakistan, about corruption in the CPEC projects and and that was the reason Beijing has temporarily halted release of funds for the corridor.

CPEC was launched in 2015 when President Xi Jinping visited Pakistan and it now envisages investment of around USD 50 billion in different projects of development in Pakistan.

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News Network
March 4,2020

Tokyo, Mar 4: Takeda Pharmaceutical Co said on Wednesday it was developing a drug to treat COVID-19, the flu-like illness that has struck more than 90,000 people worldwide and killed over 3,000.

The Japanese drugmaker is working on a plasma-derived therapy to treat high-risk individuals infected with the new coronavirus and will share its plans with members of the U.S. Congress on Wednesday, it said in a statement.

Takeda is also studying whether its currently marketed and pipeline products may be effective treatments for infected patients.

"We will do all that we can to address the novel coronavirus threat...(and) are hopeful that we can expand the treatment options," Rajeev Venkayya, president of Takeda's vaccine business, said in the statement.

Takeda said it was in talks with various health and regulatory agencies and healthcare partners in the United States, Asia and Europe to move forward its research into the drug.

Its research requires access to the blood of people who have recovered from the respiratory disease or who have been vaccinated, once a vaccine is developed, Takeda said.

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Agencies
June 28,2020

Paris, Jun 28: More than 10 million cases of the new coronavirus have been officially declared around the world, half of them in Europe and the United States, according to an AFP tally on Sunday based on official sources.

At least 10,003,942 infections, including 498,779 deaths, have been registered globally.

Europe remains the hardest hit continent with 2,637,546 cases including 195,975 fatalities, while the United States has 2,510,323 infections including 125,539 deaths.

The rate of infections worldwide continues to rise, with one million new cases recorded in just six days.

The tallies, using data collected by AFP from national authorities and information from the World Health Organization (WHO), probably reflect only a fraction of the actual number of infections.

Many countries are testing only symptomatic or the most serious cases and some do not have the capacity to carry out widescale testing.

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News Network
April 17,2020

Washington, Apr 17: The confirmed coronavirus death toll in the United States reached 32,917 on Thursday, according to a tally by Johns Hopkins University.

The toll as of 8:30 pm (0030 GMT Friday) marked an increase of 4,491 deaths in the past 24 hours, by far the highest daily toll in the pandemic so far.

But the figure likely includes "probable" deaths related to COVID-19, which were not previously included. This week, New York City announced it would add 3,778 "probable" coronavirus deaths to its toll.

As of Thursday night, the US Centers for Disease Control and Prevention had recorded 31,071 coronavirus deaths, including 4,141 "probable" virus deaths.

The US has the highest death toll in the world, followed by Italy with 22,170 dead although its population is just a fifth of that of the US.

Spain has recorded 19,130 deaths, followed by France with 17,920.

More than 667,800 coronavirus cases have been recorded in the United States, which has seen a record number of deaths over the past two days.

Meanwhile, President Donald Trump unveiled plans Thursday evening to reopen the US economy, allowing each state's governor "to take a phased deliberate approach to reopening their individual states".

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