Pakistan rejects use of Chinese currency in Gwadar

Butter Chicken

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ISLAMABAD:
Pakistan has turned down China’s demand to allow its currency to be used in the Gwadar Free Zone under the China-Pakistan Economic Corridor framework, arguing any such move would compromise its ‘economic sovereignty’.


Pakistan conveyed its final position on the use of the foreign currency in its territory to the Chinese authorities during the Senior Officials Meeting (SOM) that was held on Monday in Islamabad, according to officials who were engaged in talks.

The SOM was held a day before the 7th meeting of the Joint Cooperation Committee (JCC) – the highest decision-making body of CPEC.

The Chinese authorities wanted to avoid currency exchange risks attached with the use of the US dollar and the Pak rupee.

The Ministry of Finance and the State Bank of Pakistan opposed the Chinese demand to allow use of RMB.

https://tribune.com.pk/story/1564050/2-pakistan-rejects-use-chinese-currency/


1)China stopped work on $2 billion transmission line
2)Pak rejected dam in PoK
3)Pak rejects RMB use in free trade zone
 

Compersion

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I cannot believe that i am reading such headlines .

You dont become North Korea and say afterwards that its not good.

Dont disrespect PRC they wont respect Pakis (already dont) - enjoy being a North Korea the other choice is ... terrorism being engulfed wider and wider and severe crisis. the best choice is (re)connection with India but who in Pakistan things like that LOL. it will happen though and next time will be on good terms. we can thank PRC for that. perhaps it was always their idea. :yo: perhaps it was someones idea. PRC is pragmatic ... North Korea :india2:
 
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AmoghaVarsha

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Domestic opposition to CPEC is rising.Pakis want to keep the ability to play the double game with china also.They also want to be able to flip sides.Hence cannot give china everything.

China now realising what US realised.
 

indus

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These are just tantrums whores throw to rake up their price. China knows its getting a screwed up bedfellow but she is acting like a virgin. Eventually.... We know what happens.
 

Flame Thrower

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What are the economic affects of using Chinese currency in Gwadar!?

It's not like using Chinese currency in the entire Pakistan.

Pak has nothing to export except for textiles.... Karachi has well established routes to do that.

China can use Gwadar for its exports and imports.

Can anyone explain the consequences of using Yuan in Gwadar; in layman terms!?
 

Illusive

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Total of 145 containers import ed via gwadar port in 2017 so far:biggrin2:. export of containers is zero:rofl:. Paki establishment is :bs:ing to paki awam about gwadar port which has less traffic than Hambantota port in lanka:bplease:

http://dlca.logcluster.org/plugins/servlet/mobile#content/view/7307277
What else do they have, atleast it not the boogieman India. Now CPEC is the soluchan to all paki problems.

Our soldiers are getting killed right and left..........Don't worry CPEC will solve it.

We are getting swindled by the Chainese...... Don't worry CPEC hai na.

CPEC ne is desh ko barbad kiya hai.....Arree CPEC will solve it.
 

Kay

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We need a popcorn emoji for this. :daru:
 

sthf

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Total of 145 containers import ed via gwadar port in 2017 so far:biggrin2:. export of containers is zero:rofl:. Paki establishment is :bs:ing to paki awam about gwadar port which has less traffic than Hambantota port in lanka:bplease:

http://dlca.logcluster.org/plugins/servlet/mobile#content/view/7307277
What else do they have, atleast it not the boogieman India. Now CPEC is the soluchan to all paki problems.

Our soldiers are getting killed right and left..........Don't worry CPEC will solve it.

We are getting swindled by the Chainese...... Don't worry CPEC hai na.

CPEC ne is desh ko barbad kiya hai.....Arree CPEC will solve it.
Interesting read.

https://dailytimes.com.pk/133770/does-chabahar-matter/
 

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