CPEC infusing new life in the insurance industry of Pakistan

Considering business is set to rise under the purview of the China-Pakistan Economic Corridor (CPEC), it opens up new avenues of opportunity for companies involved in the insurance industry. The Pakistan Economic Watch (PEW) has stated that the industry should focus more on innovation and development to compete with international insurance firms, otherwise the local industry's progress can affected.
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Islamabad : The Pakistan Economy Watch (PEW) on Sunday said that China Pakistan Economic Corridor  (CPEC) is infusing new life in all the sectors of the insurance industry of the country.

This sector should be prepared to face challenges and opportunities resulting from one of the biggest developmental projects the world has ever seen, it said.

CPEC is to contribute to the unprecedented growth of the insurance industry as it is generating a lot of business activities, said Dr. Murtaza Mughal, President PEW.

The insurance industry needs to invest more in up gradation, human resource development, innovation and improved teamwork to properly benefit from the fruits of CPEC, he added.

Dr. Murtaza Mughal said that the insurance sector needs to introduce new products and further improve its working to match global standards otherwise local insurance industry will be ignored by multinationals.

He also stressed the need to create awareness among masses and the business community regarding the benefits of insurance to strengthen the economy.

He noted that CPEC would write a new chapter in the accounts of history by connecting different regions of the world while Pakistan enjoys a prominent position in this unprecedented project.

Benefitting from CPEC not only require competent and hardworking force to discharge responsibilities originating from this miracle but the insurance sector should also brace for the change, he demanded.

The government should also play its role in the promotion of insurance and general business atmosphere which could cater to the need of the countrymen and help compete with the other nations.

In the backdrop of the current situation, the insurance industry had assumed significant proportions and it must be able to solve the complex matters which will help its expansion.

Gwadar's progress paramount for CPEC

Gwadar is considered to be the hub of the China-Pakistan Economic Corridor (CPEC), whose progress is crucial to the development of CPEC. The Minister for Planning, Development and Reform, Makhdoom Khusro Bakhtiar, talked about the importance of Gwadar, while chairing a meeting for the formulation of Gwadar City Master Plan. The minister also was of the opinion that it is imperative that industrial zones are built to gain fruitful benefits from the project.

the development of Gwadar under China Pakistan Economic Corridor (CPEC) is among the top priorities of the government.

He expressed these views while chairing a meeting of the Steering Committee regarding Gwadar City Master Plan in Islamabad today.The representatives of Chinese company preparing Gwadar Master Plan gave a detailed briefing to the federal minister on the project.

The Minister stressed on the need for giving such incentives in Gwadar industrial zones that give maximum profit.https://amzn.to/2CCbfva

Engineering profession in pakistan

I’m not a very good engineer myself but I know people that are. I’m writing this article after witnessing numerous cases of brilliant CGPA holders earning pennies or being completely unemployed. This is for all Pakistani engineering graduates who've gone through the agonizingly painful studies of four years or more.
Now I know job hunting isn’t a piece of cake for any fresh graduate, but I believe - and I don’t care if you disagree because, thug life -that it's very difficult to make a career strategy if you’re an engineer, especially in Karachi. I'm not trying to discourage you to take on engineering studies, but you should be aware that it's not going to be a walk in the park either.
So if you're thinking of becoming an engineer in Pakistan, hear me out...
1) You Have To Be an Engineering Wizard:-
Granted, it takes skills to land any good job, but I’ve seen mediocre BBA students landing a 30k job easily. But ask any engineer in Karachi and they’ll tell you how much they have to study before a relevant engineering job interview.
It’s like they expect us to build a new energy source or discover a new element. The guy asking questions in the interview either just googled up 'Top Ten Toughest Questions that you can ask Engineering Interviewee to Cause Irreparable Trauma' or has spent 300 years in the field. Either way, they aren’t paying you enough anyway.
2) You Get an Internship with a Hollow Job Promise:-
Google this and you’ll find ten thousand articles about how companies use hundreds of interns to get the work done cheaply. But boy, do things get really bleak if you’re an engineer!
Most companies in Karachi have a very small ratio of engineers. The same work that an engineer can do, they teach it to diploma holders and have them do it for half the pay. I have just one friend who made it to Tapal after working his heart out in the internship, but even he's surprised he got the job.
3) The Pay Scale Is Unbelievable:-
Sorry, but that’s unbelievably LOW, not high. The pay bracket in Karachi for a fresh graduate is right in between work-for-food-only to 18k per month. Gullible, freshly graduated engineers have been using the toxic sentence ‘Sir may kaam seekhna chahta houn’ in interviews for far too long, literally destroying the value of engineering skills.
Now when you go to an interview and demand 30k, which you should expect because you have a professional degree, you’ll be told ‘beta apko hum 15 hazaar dengay, kaam acha laga to 18 kardengay.' I swear to God this is an actual response I got when I interviewed at a very respectable and established telecommunication company.
4) No Research and Development, Almost All Over the Country:-
I’m sure my fellow engineers are familiar with the term 'Sales Engineer.' In Karachi particularly, companies are hiring a lot of engineers for this position because this country is slowly turning into a retail-oriented nation.
We don’t make cars, generators, electronic components or anything remotely related to engineering, at least not as much as the engineers we are making. So let me put this straight; there are patients for doctors, cases for lawyers, companies for BBA students (marketing, finance, HR, supply etc.) but there are only a handful of industries making things that require engineers? In the words of Donald Trump, 'EXCUSE ME!'
5) They Want Technicians, Not Engineers:-
Finally, if you do land a respectable engineering job, you’ll want to blow your brains off because the majority of them are about fixing one big machine over and over again. I know people who're earning lakhs of rupees and still planning to open their own workshop.
Like I said in the very beginning, I’m not a very good engineer but I can definitely understand a good engineer’s argument that the work is not at all creative. Why study so much when at the end of the day, you just have to fix something using a manual?
So, as per above mentiong points the government should encourage multinational companies to open up shops here in Pakistan so that the brilliant minds of engineers are put to good use. I may not be a good engineer but there isn’t much in the job market for me that motivates me to get better either.
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Strategic significance of CPEC

The geographical location of a country determines its role in the world politics. It denotes that critically how beneficial or non-beneficial one country is to the others in terms of the social, economic and political aspects. Strategically, Pakistan is located at a very significant geo-strategic place on the globe. It is situated at the juncture of energy proficient to the energy deficient countries. The geo-strategic importance of Pakistan is evident from the fact that it is bordered by the emerging economic giants of the world i.e. India and China, and by the countries rich in abundant natural resources i.e. Afghanistan and Iran. Historically it is evident that the very concept of a corridor has been a cause of development in parts of the world. Economic corridors have emerged in the recent years as an important tool of regional cooperation, integration and development in a globalized world under reciprocity. China as being the neighbour of South Asia has a special significance in enhancing the agenda of constructive engagements, which is now evident from the active involvement of Chinese leadership in South Asian region. The strategic bonds between Pakistan and China have been on an upward trajectory with moved thrust on economic interaction after the initiation of CPEC. CPEC is a futuristic sociopolitical and economic object oriented dimension of Pakistan in the 21st Century. This multi-dimensional project has opened new vistas of Pakistan’s rebalancing options from geo-politics to geo-economics.
CPEC, to safeguard common interests and mutual benefits, epitomizes a model of cooperation, coordination and strategic communication between China and Pakistan to strengthen connectivity in areas of trade and economy with states in the region to fulfill growing energy requirements and enhance exports. Pakistan’s leadership pronounces the CPEC as a game changer for Pakistan and the region at large. Along with CPEC, Pakistan will turn into a commercial hub in South and Central Asia, an axis of the regional trade.
CPEC would inter-link South Asia, Central Asia, North Africa and Gulf States in terms of economic and energy collaboration. China has been interested in the development of a direct crude oil pipeline from Gwadar in Pakistan to Xinjiang in China through CPEC. With the operationalization of Gwadar Port, all the trade to and from landlocked Central Asian Republics (CARs) can be taken on the shortest available route via Gwadar due to which the trade benefits to Pakistan may be expected to multiply. Pakistan could be able to become major world channel for petro-chemical trade which will stimulate its economic progression. Moreover, the Baluchistan Province in Pakistan will become substantial for regional amalgamation. Gwadar Port has a rare difference of being only one of the few points where ‘One Belt, One Road’ (OBOR) would intersect. Therefore, it is imperative that Pakistan should deal optimistically with all the challenges in construction of CPEC and may convert this golden opportunity into an economic certainty. Regardless of the importance of CPEC for Pakistan, there are other dimensions too. It has also exceptional implications for China and its future role of emerging as a great power at the global level. China considers regional connectivity as a central element and first step to rise at global level. President Xi of China during his address to Foreign Affairs Committee at Communist Party meeting in 2014 said that we will give priority to our neighbours in our diplomacy on all fronts. While, other part of policy is to build relations with developing countries having abundance of natural resources, including energy rich, countries. It will help China to be branded as the development partner and non-interfering ally in the comity of nations. Counter balancing the Pivot to Asia Policy designed by the US to contain and encircle China with an alliance including India, Vietnam, South Korea, Japan, Australia, Singapore and the Philippines. This Corridor will serve as a substitute route for Chinese trade, thereby allowing China to outwit the threat of a blockade of Chinese oil supplies through the Strait of Malacca by the USA and allied navies in the wake of a future war in Asia. CPEC will strengthen the strategic alliance between Pakistan and China as it would seem probable to exacerbate the dispute between Pakistan and India. China promotes the hope that CPEC and its economic impact will also contribute to the transformation of Pakistani society and the consolidation of moderate forces. China believes that peaceful progress in Pakistan would have in turn a positive effect on the region about the situation in Afghanistan. The CPEC will provide an opportunity for reinvigoration of Pakistan’s economic structure, predominantly through the development of its energy sector and by encouraging a greater connectivity. CPEC is disparagingly important for both countries. Pakistan needs it to overcome its socio-economic development and energy concerns, while on the other hand China desires it to enlarge its periphery of influence, consolidate its global existence and safeguarding its future supply routes of energy and trade goods. It is important to point out that the concept was established by China, as being part of its “Go Global 2001” policy. Pakistan can be one of the beneficiaries of Chinese dream of economic integration at the regional level. Therefore, it is advisable for Pakistan to remain concentrated on the development of the country rather than wasting time on inconsequential issues. Provincialism should not be given the chance to take over the development agenda by any stakeholder, including the federal government.
China has taken over control of Gwadar Port for a 40 years’ lease, and started to develop the deep seaport into one of the most up-to-date and progressive seaports of the world. Gwadar Port will have a huge storage of cargo and shipment handling facilities and many shipyards. The Gwadar port will function as a tail of the New Silk Road, which would connect China’s Kashgar region to the different communicational networks of the region. It holds an essential position in the CPEC venture that it has been situated close to the Strait of Hormuz, through which about 40% of the world’s oil supply is flowed. Gwadar as a key shipping point could play a key role in safeguarding Chinese interests of energy security by providing a much shorter route than the current 12,900 Km route from the Persian Gulf through the Strait of Malacca to Chinese Eastern Seaboard. The port is envisioned to the transformation of Pakistan into a center of commercial activities among the energy rich Gulf and Central Asian States, Afghanistan and China, by offering the Pakistan Navy with strategic depth beside its coast as a maritime base.

Chinese cricketers to join Peshawar Zalmi squad for upcoming PSL fixture

Two Chinese cricketers are set to join the Peshawar Zalmi squad on Thursday for the tenth fixture of the Pakistan Super League 2018 in Sharjah.
Jian Li and Yufie Zhang were recruited by the Zalmi in an effort to promote cricket in China, the team's "We will provide them a platform to recognise their talent and motivate them to achieve international recognition," he said, adding that the Chinese cricketers would join the Zalmi camp at the Dubai International Cricket Stadium.
The team is set to play a match against the Quetta Gladiators in Sharjah on Thursday. The Zalmi, the defending champions, have won only one of their three matches and are placed at the fourth spot among the six PSL teams. The Gladiators have won one match and lost another, placing third so far.
The House of Zalmi had organised a Global Zalmi League in Feburary ─ a fan-based league of cricket enthusiasts with representative Zalmi clubs in over 16 countries around the world.
China Zalmi was represented by cricketers from China, a majority of whom were selected from the Pakistani Community Keqiao.
Participating teams were divided into four groups and China Zalmi remained unbeaten in its three league matches before the quarter-final and final, and went onto win the title.
Peshawar Zalmi owner Javed Afridi not only awarded the winning team $10,000 but also allowed two of its players to participate in a practice session with senior team members.

He expressed confidence that the China Zalmi win in the Global Zalmi League would help promote cricket among the Chinese youth.

Gwadar coal power plant tariff sought at Rs8.9 per unit for 30 years

The CIHC Pak Power Company has submitted to Nepra the petition of coal-based power plant of 300 MW at Gwadar port seeking a levelised tariff of Rs8.9 per unit for 30 years. The internal rate of return (IRR) of the project will be 17 percent.
Nepra has been asked for the two-part tariff consisting Rs9.57 per unit for first 12.5 years and Rs8.49 per unit for the period from 12.5 years to 30 years. The fuel consumption of the plant will be based on the thermal efficiency of 37 percent and the coal of South Africa will be used for the power generation.
The project will be completed in 30 months at the cost of $542.32 million that include engineering, procurement, construction (EPC) cost of $369.88 million, interest during cost (IDC) of $32.90 million, expenditure in the heads of withholding tax, sales tax and custom duty valuing $40.11 million, non-EPC cost of $10.64million, project development costs of $21.03 million, company and sponsor cost of $26.84 million, insurance during construction $3.70 million, O & M mobilisation $6.49 million, non-reimbursable fuel and start-up cost prior to synchronisation $3.44 million, SINOSURE fee during construction $9.21 million, and financing fee and charges of $13.12 million.
Currently the whole Gwadar depends upon the 70 MW of electricity being imported from Iran. Of this, 14 MW is being provided to Gwadar port alone while the rest of 56 MW is being utilised by Makran Coastal areas. The project will be constructed on built, own, operate (BOO) basis based on imported coal.
The most shocking part of the petition is that debt payments, all taxes that include income tax, withholding tax, corporate tax, payments to workers welfare fund, Zakat deduction on dividends, Balochistan government taxes will be treated as pass-through items apart from the imported coal cost that is projects to be at $102 per metric ton. About 207 acres of land will be acquired for the project at the price of $5 million and government of Balochistan has started the process for the acquisition of land.

Sub nationalism & CPEC

BALOCH feudal lords have been notorious for opposing development in their province. Their mindset is fixated on the factor that denies the uplift of its people; be it socio-economic, educational, health, nutrition or other aspects. There is a method in the madness. The ordinary Baloch serve as minions and serfs on the lands and property of the Baloch Sardars, who would not like to endanger their fiefdom if their subjects get enlightened. Generally Baloch feudal lords have been serving as the Governors or Chief Ministers of Balochistan. Despite the allocation of development funds for the construction of educational institutions, communication infrastructure, water and energy projects, the province of Balochistan has remained under developed. Firstly because the allocated funds for development were siphoned off by corrupt political leaders, secondly because they wanted the ordinary Baloch to remain steeped in ignorance lest he demand freedom from bonded labour and refuse to serve as menials.
Since 2015, with the advent of China-Pakistan Economic Corridor (CPEC) and the development of the Port of Gwadar, there is hope for the social uplift of the ordinary Baloch. Besides the development of the Gwadar Deep Sea Port, the 45 billion dollar mega project entails at least sixteen projects, the maximum for any province for Balochistan. These include Khuzdar Basima Highway (N 30), D.I. Khan Quetta Highway (N 50), Hubco Coal Power Plant, Gwadar Power Plant, Gwadar Nawabshah LNG Terminal and Pipeline, Gwadar Eastbay Expressway, Gwadar New International Airport, Gwadar Smart Port City Master Plan, Expansion of Multipurpose Terminal including Breakwater & Dredging Wastewater, Treatment Plants for Gwadar City, Gwadar Primary School, Gwadar Hospital Upgradation, Gwadar Technical & Vocational College, Gwadar Eastbay Expressway II, Fresh Water Supply and Gwadar Free Zone.
CPEC is expected to usher an era of development for Pakistan in general and for the Baloch in particular as it is providing the people a means of livelihood and enhancement of the quality of their lives. Unfortunately, Baloch feudal lords would like to deny their people the fruits of the CPEC bonanza because they would rather see their people live in darkness and ignorance rather than challenge their authority.
Detractors of Pakistan and China, who would like to see the CPEC fail, have employed every possible trick in the book of guile, deceit and deviousness to destabilize the project and scare the Chinese away. From sedition to sabotage, fomenting insurgency to actual acts of terrorization, Balochistan has been rocked to the hilt. It goes to the credit of the law enforcing agencies that they have managed to quell the insurgency while the resilience of the majority of the Baloch nation has held the province intact. A number of Baloch feudal lords, who were on the payroll of inimical secret services to stir up trouble in Balochistan, have proceeded on self-imposed exile to safer climes to escape the dragnet of Pakistan’s security forces. Even in exile, they continue to play in the hands of Pakistan and China’s detractors and having sought asylum in various countries, they continue to spread venom against Pakistan and CPEC.
Reportedly, exiled Baloch leaders and activists gathered in Germany’s Berlin city to voice their concern against CPEC. The event titled “China’s One Belt One Road Initiative – Its adverse impact on Balochistan & the region” was organized by the European Branch of Baloch National Movement (BNM), a Baloch nationalist political group. Dr Zaffar Baloch, the Organizer of the Baloch National Movement in North America made stringent demands that China and Pakistan should get out of Balochistan. He stressed that Balochistan is not a part of Pakistan and it has no right to sign any agreement with China that has anything to do with Balochistan.
Hammal Haider, the Foreign Secretary of the Baloch National Movement was critical of China, stating that “China is very aggressive towards its `One Belt One Road’ policy and it’s not taking care of human rights violations which Pakistan is committing in Balochistan. China is very aggressive, but the problem is the European countries are reluctant to say anything. The purpose of the conference is to raise awareness and to engage the good people of European countries and raise their voices against China’s aggressive policies.”
Seeking to place impediments in the success of CPEC, numerous foreign intelligence agencies are operating from Afghanistan to support bomb blasts, suicide attacks, abductions, target killings, ethnic and sectarian violence in Balochistan through their affiliated militant groups such as BRP, Baloch Liberation Army (BLA), Jundullah (God’s soldiers) and others to fulfil their heinous plans at the cost of Pakistan, China and Iran. The Baloch feudal lords have been active in denigrating Pakistan and CPEC. They run campaigns on the internet, blog despicably false claims of human rights transgression by Pakistan’s law enforcement agencies and seek funds from international donors to continue their machinations.
Some Baloch feudal lords see the light of reason and have returned to Pakistan to become a part of the historic resurgence of their province. Many insurgents have surrendered their arms and decided to work for the development of Pakistan. Regrettably, on the behest of some of Pakistan and CPEC’s opponents, leader of the BRP, Nawabzada Brahamdagh Bugti continues to shun the amnesty offered by the government of Pakistan and continues to mislead the Baloch against the Federation of Pakistan by opposing the CPEC. We need to be united in ensuring the completion of CPEC if we want to see prosperity and peace in the region.