BRI: “China is the Past in Terms of Investments in Pakistan, We are the Future”, Says Donald Lu, US Diplomat

• “China is the past in terms of investments in Pakistan, we are the future”, says Donald Lu, US Diplomat
• The US would supersede Chinese investments: Donald Lu
• Washington’s plan to balance China’s “strong and growing influence” in Pakistan: Donald Lu
• Fostering strong US economic ties could offer more sustainable growth opportunities for Pakistan: Donald Lu
• US likely to allocate a foreign assistance of $1.01 billion for the South and Central Asia region aims to “compete with the People’s Republic of China (PRC), counter Russian and Chinese disinformation: Report

By: Muhammad Arif, Editor NSN.Asia

Islamabad: “China is the past in terms of investments in Pakistan, we are the future,” Donald Lu, Assistant Secretary of State for South and Central Asia told lawmakers during a Congressional hearing on Tuesday.

Lu was responding to a question posed by US representative Rich Mccormick who asked about the China-Pakistan Economic Corridor (CPEC) and its impact on Pakistan’s economy, US Assistant Secretary of State Donald Lu stated that while CPEC represents China’s past investments in Pakistan, US investment is crucial for the country’s future.

Lu also emphasized that fostering strong US economic ties could offer more sustainable growth opportunities for Pakistan.

Sharing his remarks on Pakistan’s economic relations with China, Lu said that the US was seeking to prevent Islamabad’s “further overreliance” on Beijing.

China made around $65 billion investment in Pakistan under the CPEC, a flagship development project of Belt and Road Initiative BRI, also referred as a project launched for the revival of the Silk Road.

Commenting on a US lawmaker, Rich McCormick, during the hearing regarding Washington’s plan to balance China’s “strong and growing influence” in Pakistan, Lu said that the US would supersede Chinese investments.

Lu’s statement appeared at time when he forwarded a written budget request for South and Central Asian Affairs to the House of Representatives Foreign Affairs Committee. The said budget proposal seeks funding support of $101 million aimed to “strengthen democracy, fight terrorism, and stabilize the economy of Pakistan”, US Assistant Secretary of State Donald Lu told a congressional session held on Tuesday.

He said that Pakistan was facing “ongoing challenges and opportunities”, in light of which, the requested funding would strengthen democracy, fight terrorism, and stabilise the economy by supporting economic reforms and debt management.

The President’s proposed foreign assistance of $1.01 billion for the South and Central Asia region aims to “compete with the People’s Republic of China (PRC), counter Russian and Chinese disinformation, and prevent terrorist groups from threatening the US security”, according to statement.

“That money would be used to strengthen democracy and civil society, to fight terrorism and violent extremism, and to support economic reforms and debt management to help stabilise Pakistan’s economy”, according to the statement.

“We support media freedom in Pakistan, just as we support it around the world”, said Matthew Miller, State Department spokesperson, on Tuesday while responding to a query on political situation in Pakistan, regarding the arrest of opposition leader Raoof Hasan and the raid on the PTI’s office.