
‘All-weather ally’: China eyeing businesses and land in Pakistan, claims report
India TV NewsChina’s relationship with its “all-weather ally” Pakistan seems to be getting deeper as several companies from Beijing are in talks to acquire more businesses and land in Pakistan after sealing two major deals in recent months. A Reuters report cites a dozen executives from some of Pakistan’s biggest firms claiming that Chinese companies were looking mainly at the cement, steel, energy and textile sectors, the backbone of Pakistan’s $270 billion economy. According to the report, a Chinese-led consortium took a strategic stake in the Pakistan Stock Exchange, and Shanghai Electric Power Board acquired one of Pakistan's biggest energy producers, K-Electric, for $1.8 billion. However, not everyone is excited by China's growing role in the Pakistan economy, including trade unions, who said Chinese companies' alleged mistreatment of local workers in Africa in the past had alarmed them.
History of this topic
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