India protests against proposed Pak-China bus service via PoK

India protests against proposed Pak-China bus service via PoK

India protests against proposed Pak-China bus service via PoK

In response, Pakistan's closest ally China promised "to provide support and help to the best of its ability" for Islamabad's economic woes, Reuters reports, adding, "Pakistan's foreign reserves have plunged 42 percent since the start of the year and now stand at about $7.8 billion, or less than two months of import cover". The project is meant to modernise Pakistani infrastructure and bolster the country economy by building various transportation networks, energy projects and special economic zones.

"Therefore, any such bus service through Pakistan-occupied Jammu and Kashmir will be a violation of India's sovereignty and territorial integrity", Kumar said.

A loan of United States dollars 1.5 billion is also expected to be offered, along with an additional package of USD three billion for the China-Pakistan Economic Corridor (CPEC), the report said. Some of these loans have been granted under Xi's ambitious "Belt and Road" connectivity project.

"In 2017, Prime Minister Narendra Modi had said that it is only by respecting the autonomy of countries involved, there can be regional connectivity and avoid differences and disorientation". He said we desire to learn from the experiences and successes of China in different sectors.

It is also seeking new loans from Saudi Arabia and China.

The Pakistani side is willing to reinforce communication and coordination in multilateral affairs with China, Khan added.

Pakistan Finance Minister Asad Umar, who is accompanying Mr Khan, earlier told media in Islamabad that his government's strategy was to seek loans from multiple sources instead of asking the International Monetary Fund (IMF) alone to plug the entire gap in the country's financing needs.

India opposes the project because the creation of the corridor envisages Chinese and Pakistani economic activity in the Gilgit-Baltistan area of the disputed Jammu and Kashmir region.

His visit here was regarded as significant as it is taking place amid critical remarks made by some ministers in Khan's Cabinet on the CPEC which had caused consternation among Chinese leaders considering the "all-weather" relations.

From Beijing's point of view, Pakistan's criticism of the project was a shocker, especially after China's takeover of Sri Lanka's Hambantota port on a 99-year lease as a debt swap.

The Prime Minister, who left on a four-day official visit to China said that low crime was easy to check but tackling white collar crime needed speciality and expertise which Pakistan was struggling.

Khan is due to meet President Xi Jinping and attend the China International Import Expo in Shanghai.

Both foreign ministers underscored the importance of the Pakistan-China all-weather strategic cooperative partnership for shared future in the new era, the spokesman said.

The statements evoked serious concerns in China as the CPEC is the flagship project of President Xi's pet multi-billion BRI. He further said that India's objection would not change China's position on the Kashmir issue.

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