In Pakistan, voices critical of CPEC being suppressed, US lawmakers told

Agencies
May 14, 2019

Washington, May 14: People and the media in Pakistan are scared of speaking against the multi-billion-dollar China Pakistan Economic Corridor (CPEC) as critical voices are being suppressed, treated as anti-national or branded as terrorists, a former Obama Administration official has told US lawmakers.

"Rarely will you read an article that's critical about CPEC in the Pakistani media. Very rarely. There's been a media capture essentially and there's only the CPEC narrative because people are scared or they've been intimidated or threatened not to do certain pieces," Shamila Chaudhary from the Johns Hopkins University School for Advanced International Studies said.

Testifying before a Congressional committee last week, Chaudhary, who served in the previous Obama Administration, told the lawmakers that at the very local level, people who critique CPEC are often labelled as terrorists.

"There are anti-terrorism laws that can be used against them. Worse things could possibly happen. So it's a very real threat and it has already done a lot of damage to the civil society and the democratic culture that's fairly vibrant, despite their country's history with democracy," she said.

Responding to questions from the lawmakers, Chaudhary said unlike America's soft power, the Chinese model of development does not increase people to people relationship.

"The Chinese don't have that and the Chinese nationals that are going to, say, Pakistan, for example, they're not there to become part of the culture or learn about the communities or have cross-cultural dialogue," she said.

Chinese are in Pakistan to make money, she alleged. "They live in enclaves and essentially what people call Chinese colonies and go to their own restaurants. And that's not something that's going to favour China, Pakistan or China's cooperation with any country for that matter over the long run. Local communities will be very upset by those things, I believe," Chaudhary said.

Informing the lawmakers that the Chinese financial assistance to Pakistan is being kept secret, she said the information now has been shared by Pakistan with the International Monetary Fund (IMF) so that it can be bailed out of the current financial crisis.

"The deal (with IMF) is almost complete and it's my understanding that that information has actually been shared, and so, you know, what Pakistan won't share publicly as part of a bilateral deal with the Chinese, I think it's more willing to share when it needs it," Chaudhary said.

CPEC, she said, hurts US regional interests by disrupting the fragile India-Pakistan ties, a nuclear-fuelled dynamic that demands US stewardship from time to time during times of crisis.

"China's provision of surveillance, data collection capabilities and new hardware to the Pakistani military may seem like it improves security, but such tools also increase the likelihood of invasive data collection, misuse of information and violations of privacy," she said.

"The notion that the Pakistani military might start to mimic Chinese authoritarianism is no longer theoretical. Pakistani civil society and media report more aggressive tactics by the military to silence critical voices. They share a common refrain, that the military is more powerful than ever and that's because of China," Chaudhary said.

She told the lawmakers that in Pakistan, Chinese influence stands alone, changing the rules of the game for everyone else.

For example, Pakistan no longer publicly discloses the terms of its loans from China. Indeed, CPEC pretends immense geo-economic and geopolitical advantages for China in Pakistan, but its repercussions will dwarf any comparable American influence, she said.

To protect US geopolitical options in the future, the US should support the Pakistani and regional actors most threatened by Chinese influence. Ultimately, countering China's rise will require the US to create policies that both address and benefit from the needs of other countries, Chaudhary said.

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News Network
July 21,2020

New Delhi, Jul 21: With a spike of 37,148 cases and 587 deaths reported in India in the last 24 hours, the total number of COVID-19 cases stands at 11,55,191, according to the Union Ministry of Health and Family Welfare.

The total number of cases include 4,02,529 active cases, 7,24,578 cured/discharged/migrated and 28,084 deaths, the ministry informed.

Maharashtra remains the worst affected state with 3,18,695 cases and 12,030 deaths.
The second worst-hit state, Tamil Nadu has reported 1,75,678 COVID-19 cases so far while Delhi has reported 1,23,747 cases, according to the Health Ministry.

Meanwhile, as per the information provided by the Indian Council of Medical Research (ICMR), 1,43,81,303 samples have been tested for COVID-19 up to July 20. Of these 3,33,395 were tested yesterday.

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News Network
February 17,2020

New Delhi, Feb 17: Four death row convicts in the 2012 Nirbhaya gang rape and murder will be hanged on March 3 at 6 am a Delhi court said on Monday.

The Patiala House Court on Monday issued fresh death warrants against four convicts while hearing a petition by the state and Nirbhaya's parents.

Earlier, Delhi High Court on February 5 granted a week's time to the four convicts to avail of all legal remedies available to them and said that the convicts cannot be hanged separately since they were convicted for the same crime.

A Delhi Court had earlier issued a death warrant against the four convicts -- Vinay Sharma, Akshay Thakur, Pawan Gupta, and Mukesh Singh -- on January 7 and they were scheduled to be executed on January 22 at Tihar Jail. Later, the execution was suspended indefinitely by a Delhi court.

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News Network
February 2,2020

Feb 2: Prime Minister Narendra Modi’s second budget in seven months disappointed investors who were hoping for big-bang stimulus to revive growth in Asia’s third-largest economy.

The fiscal plan -- delivered by Finance Minister Nirmala Sitharaman on Saturday -- proposed tax cuts for individuals and wider deficit targets but failed to provide specific steps to fix a struggling financial sector, improve infrastructure and create jobs. Stocks slumped as a proposal to scrap the dividend distribution tax for companies failed to impress investors.

"Far from being a game changer, the budget provides little in terms of short-term growth stimulus,” said Priyanka Kishore, head of India and South East Asia economics at Oxford Economics Ltd. in Singapore. “While income tax cuts will provide some relief on the consumption front, the multiplier effect is low and the overall stance of the budget is not expansionary."

India has gone from being the world’s fastest-growing major economy three years ago, expanding at 8%, to posting its weakest performance in more than a decade this fiscal year, estimated at 5%.

While the government has taken a number of steps in recent months to spur growth, they’ve fallen short of spurring demand in the consumption-driven economy. Saturday’s budget just added to the glum sentiment.

Okay Budget

“It’s an okay budget but not firing on all cylinders that the market was hoping for,” said Andrew Holland, chief executive officer at Avendus Capital Alternate Strategies in Mumbai.

The government had limited scope for a large stimulus given a huge shortfall in revenues in the current year. The slippage induced Sitharaman to invoke a never-used provision in fiscal laws, allowing the government to exceed the budget gap by 0.5 percentage points. The result: the deficit for the year ending March was widened to 3.8% of gross domestic product from a planned 3.3%.

On Friday, India’s chief economic adviser Krishnamurthy Subramanian said reviving economic growth was an “urgent priority” and deficit goals could be relaxed to achieve that. The adviser’s Economic Survey estimated growth will rebound to 6%-6.5% in the year starting April.

The fiscal gap will narrow to 3.5% next year, as the government budgeted for gross market borrowing to rise marginally to 7.8 trillion rupees from 7.1 trillion rupees in the current year. A plan to earn 2.1 trillion rupees by selling state-owned assets in the year starting April will also help plug the deficit.

Total spending in the coming fiscal year will increase to 30.4 trillion rupees, representing a 13% increase from the current year’s budget, according to latest data.

Key highlights from the budget:

* Tax on annual income up to 1.25 million rupees pared, with riders

* Dividend distribution tax to be levied on investors, instead of companies

* Farm sector budget raised 28%, transport infrastructure gets 7% more

* Spending on education raised 5%

* Fertilizer subsidy cut 10%

Analysts said the muted spending plan to keep the deficit in check will lead to more downside risks to growth in the coming months.

“It is very doubtful that the increase in expenditure will push demand much,” Chakravarthy Rangarajan, former governor at the Reserve Bank of India told BloombergQuint, adding that achieving next year’s budget deficit goal of 3.5% of GDP was doubtful.

With the government sticking to a conservative fiscal path, the focus will now turn to central bank, which is set to review monetary policy on Feb. 6. Given inflation has surged to a five-year high of 7.35%, the RBI is unlikely to lower interest rates.

What Bloomberg’s Economists Say:

The burden of recovery now falls solely on the Reserve Bank of India. With inflation breaching RBI’s target at present, any rate cuts by the central bank are likely to be delayed and contingent upon inflation falling below the upper end of its 2%-6% target range.

-- Abhishek Gupta, India economist

Governor Shaktikanta Das may instead focus on unconventional policy tools such as the Federal Reserve-style Operation Twist -- buying long-end debt while selling short-tenor bonds -- to keep borrowing costs down.

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