Pakistan, India finance ministers spar over CPEC, OBOR

YOKOHAMA: Finance ministers of Pakistan and India sparred over China’s One Belt One Road (OBOR) project during ADB’s annual meeting in Yokohama, Japan with Pakistan rejecting India’s objection and reiterating full support to China.

At a panel discussion, which saw the participation of ADB President Takehiko Nakao as well as the finance ministers of Pakistan, India and Indonesia, Arun Jaitley said his country had “reservations over OBOR due to sovereignty issues”.

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While he refused to go into details, his remarks come in the backdrop of India’s objections over the China-Pakistan Economic Corridor (CPEC) – part of OBOR – since it says the route runs through the disputed territory of Gilgit-Baltistan.

Pakistan has, on the other hand, given the region self-rule.

“We have reservations about China’s One Belt One Road project because of some sovereignty issues,” said Jaitley.

In response, Pakistan’s finance minister Ishaq Dar said that the project was important for regional connectivity.

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“With due respect to some panelists, we strongly support OBOR and it is a great one connecting the region.”

In an otherwise drab discussion on ‘Asia’s Economic Outlook: talking trade’, this was the only time a disagreement arose. Dar, however, reiterated Pakistan’s position unequivocally.

The support to OBOR comes in large part due to the CPEC initiative that will see the two countries undertake investments worth more than $60 billion in Pakistan.

The post Pakistan, India finance ministers spar over CPEC, OBOR appeared first on The Express Tribune.

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