Pakistan Confirms China Pullout From Pipeline Project, Eyes Other Options
By RFE/RL’s Radio Mashaal
ISLAMABAD — Pakistan says the Industrial and Commercial Bank of China has “no more interest” in funding a project to build a natural-gas pipeline from Iran to Pakistan.
A Pakistani Finance Ministry spokesman said on March 14 that the Chinese institution had been negotiating with Pakistan’s Habib Bank over financing for the Pakistani section of the pipeline. He added that he did not know why the Chinese bank had pulled out of the deal. …
Read more » RFE/RL
– Mining Company Abandons $19 Billion Pact; Move Is Setback to Islamabad’s Effort to Establish Beijing as Foil to U.S.
By TOM WRIGHT in New Delhi and JEREMY PAGE in Beijing
A Chinese mining company pulled out of what was to be Pakistan’s largest foreign-investment deal because of security concerns, complicating Islamabad’s effort to position its giant neighbor as an alternative to the U.S. as its main ally.
An official at China Kingho Group, one of China’s largest private coal miners, said on Thursday it had backed out in August from a $19 billion deal in southern Sindh province because of concerns for its personnel after recent bombings in Pakistan’s major cities. …
Read more » The Wall Street Journal