This manoeuvring by the government to include Saudi Arabia in CPEC without prior consultation with the principal stakeholder and financier of the whole project, i.e. China, smacks of an unprecedentedly unilateral approach. The Chinese may value our long-standing friendship enough not to embarrass us publicly on this, but the fact that they have been bypassed hardly constitutes wisdom. The Chinese Ambassador has come on record as pledging to reconsider CPEC or any of its detailed projects through mutual consultation. Pakistan cannot, indeed should not attempt to bypass or ignore our friendly benefactor. Although Khusro Bakhtiar spoke of other countries also joining CPEC, this cannot be dictated to China as a unilateral fiat. After all they are the ones investing $ 50 billion plus in a country that is hardly the destination of choice for global investors. Pakistan has ended up embarrassing if not annoying both allies - China and Saudi Arabia. This is hardly the way to conduct sensitive and delicate negotiations with actual or potential benefactors. The government's hope to get enough economic and financial help from China and Saudi Arabia (and possibly the UAE) to be able to avoid the IMF is hardly likely to be helped by this hasty, ham-handed manner of conducting economic diplomacy with strategic implications. The government is angling for deferred payments again for oil from Saudi Arabia and asking Riyadh to deposit funds with us to stave off a foreign currency reserves crunch. China has also been asked for similar deposits. But with this latest gaffe in the conduct of foreign relations, especially with two such critical allies, the government may well end up falling between both stools and be left in the tender embrace of the IMF after all.
This manoeuvring by the government to include Saudi Arabia in CPEC without prior consultation with the principal stakeholder and financier of the whole project, i.e. China, smacks of an unprecedentedly unilateral approach. The Chinese may value our long-standing friendship enough not to embarrass us publicly on this, but the fact that they have been bypassed hardly constitutes wisdom. The Chinese Ambassador has come on record as pledging to reconsider CPEC or any of its detailed projects through mutual consultation. Pakistan cannot, indeed should not attempt to bypass or ignore our friendly benefactor. Although Khusro Bakhtiar spoke of other countries also joining CPEC, this cannot be dictated to China as a unilateral fiat. After all they are the ones investing $ 50 billion plus in a country that is hardly the destination of choice for global investors. Pakistan has ended up embarrassing if not annoying both allies - China and Saudi Arabia. This is hardly the way to conduct sensitive and delicate negotiations with actual or potential benefactors. The government's hope to get enough economic and financial help from China and Saudi Arabia (and possibly the UAE) to be able to avoid the IMF is hardly likely to be helped by this hasty, ham-handed manner of conducting economic diplomacy with strategic implications. The government is angling for deferred payments again for oil from Saudi Arabia and asking Riyadh to deposit funds with us to stave off a foreign currency reserves crunch. China has also been asked for similar deposits. But with this latest gaffe in the conduct of foreign relations, especially with two such critical allies, the government may well end up falling between both stools and be left in the tender embrace of the IMF after all.