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Direction: Read the following passage carefully and answer the questions that follow.
The China Pakistan Economic Corridor (CPEC) mega project has been widely welcomed in Pakistan as a game changer. The core of the project is a 2,500-km road and rail link, which will connect the port of Gwadar on the Arabian Sea to the Chinese city of Kashgar in Central Asia. The Chinese government, the principal sponsor, says it will invest $46 billion on the project.
The money will be spent not just on the road and rail link but also on a host of other infrastructure projects. These include an expansion of Gwadar port and a new international airport in the city. Also included are several power projects based on coal and renewable energy that will add about 10.4GW to Pakistan's power grid. Oil and gas pipelines are in the offing as well.
There can be no dispute that the CPEC is a game changer. Pakistan's faltering economy will get a huge boost. China will get access to a warm water port. Shipping time and cost for exports from Western China will be reduced. Oil and gas will be offloaded at Gwadar and piped along the corridor to China.
The announcement of the project shone a bright light in the gloom that surrounds the Pakistani economy. Elation is the order of the day. There is broad consensus that CPEC is an unqualified “good.” But could it be that, dazzled by the light, we have neglected to conduct a rigorous analysis of this mega project and what it means to Pakistan?
In a deal like this emotions have to be set aside. There is no doubt that China has been a strong and constant supporter of Pakistan throughout our history. But it should also be clear that when it makes investment decisions such as the proposed $46 billion CPEC it makes them in the cold light of its self-interest — as one would expect from any responsible nation. And as a responsible nation, conscious of its sovereignty and self-respect, Pakistan should also apply the same standard to its assessment of the project.
Clearly the advantages of the CPEC are many, significant, and undeniable. But are there any aspects that may be detrimental to our interests in the long term? The first issue that comes to mind is sovereignty.
By leasing out vast tracts of land in the city of Gwadar and all along the route of the corridor, we in fact transfer sovereignty of some of our territory to a foreign power. And this is no ordinary foreign power. China is an emerging superpower with global ambitions. Have we built into the deal the necessary safeguards that will allow us to retain control of our territory if circumstances change?
It is proposed that most of the construction work will be done by thousands of Chinese workers. Does this make sense for Pakistan given widespread and painful unemployment? Would it not be in our interest to have Pakistanis do the work? Should contracts not include provisions for contractors to train and employ Pakistani workers and engineers?
As a global manufacturing powerhouse China plans to bring all or most of the equipment it needs for projects from its own suppliers. But would not our interest be better served if we insisted on having equipment made in Pakistan? Part of the proposed investment should be diverted to setting up factories inside Pakistan to supply the diverse range of equipment and machinery to the various CPEC projects.
Have we asked the right questions in regard to the financing? Forty-six billion dollars is a lot of money. Is it a grant or gift to Pakistan? Is it a loan? If the latter, what is the payback period and the applicable rate? What happens if there is a default? Have the tariff rates payable to Pakistan for use of port facilities, road and rail links, and oil and gas pipelines been established and agreed?
These and a whole range of other issues must be addressed when so much is at stake. But it seems that the euphoria of attracting this mega project has perhaps distracted us from the imperative of due diligence and the rigorous risk-based cost benefit analysis that this entails.
Let there be no doubt: The CPEC is wonderful news for Pakistan. But it must move forward with its eyes wide open. And with a full understanding of not only the rewards that the project holds for Pakistan, but also the possible pitfalls that may lie in wait for us.
"Elation is the order of the day.
Q. According to the passage, which of the following is lacking on Pakistan's part with respect to the CPEC proposal?
  • a)
    Self-assessment
  • b)
    Acceptance
  • c)
    Denial
  • d)
    Both A and B
  • e)
    Both B and C
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
Direction: Read the following passage carefully and answer the questi...
The last line of the fifth paragraph states 'And as a responsible nation, conscious of its sovereignty and self-respect, Pakistan should also apply the same standard to its assessment of the project' which makes option A the correct answer.
The passage doesn't talk about acceptance or denial by Pakistan; hence these two can be ruled out.
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Direction: Read the passage given below and then answer the questions given below the passage. Some words may be highlighted for your attention. Read carefully.Since the beginning of this decade, India’s unemployment rate has been juggling from 3.62 percent to 3.41 percent. In 2017, the figure stood at 3.52 percent, roughly above the decade’s mean of 3.51 percent. Now, if you consider India’s population of 1.35 billion, this gives us more than 47 million, or over 4.7 crores, unemployed Indians– who are capable of contributing to the nation’s workforce– always unemployed. But can the situation change for good with the ‘Make in India’ initiative? As a matter of fact, it is an eventual possibility. Before we delve deeper into the subject, let us first understand why ‘Make in India’ is imperative, especially to our nation. India’s top-ten imports account for almost four-fifths (78.2 percent) of its purchases from other countries. Besides mineral fuels, this includes $46.9 billion (10.6 percent) worth of electrical machinery and equipment, $36 billion (8.1 percent) worth of types of machinery such as computers and electronics. Nearly 50 percent of all electronic products sold in India are imported. If India is able to successfully build its manufacturing infrastructure, the nation can save billions of its foreign reserves annually, which is as high as $116.2 billion just out of these commodities, by merely catering to the local demand. But the real fruits of ‘Make in India’ become more apparent if we bring international trade into perspective.For long, India has suffered because of its underdeveloped industrial infrastructure. This is despite the country’s favourable geographical location that has access to nearly all Asiatic countries and a budding market of Africa. The nation, on one hand, holds a central location between Far-Eastern and Middle-Eastern markets, and on the other, has access to European market through the Gulf of Aden, and to Australia via the South East. It has to be also noted that these trade routes are sea-based, that are more economical than land-based freight transportation. If India successfully builds its manufacturing infrastructure matching the global benchmark, the nation has the true potential to emerge as a dominant global supplier. Here, the country is also benefitted by the globally changing demographics.India has one of the youngest populations and will house a billion people aged between 15 and 64 years by 2027, essentially the world’s largest workforce. The country also has the advantage of wage arbitrage with the cost of factory labour less than $2 per hour. Technologically speaking, India’s digitization drive is increasing its overall efficiency and effectiveness in the trade with every day that passes. The nation further benefits by its ability to indigenously build ancillary systems, such as purpose-specific satellites. The nation also has one of the globally leading IT service and support infrastructures and a skilled workforce. These are some of the reasons why multinational organizations are considering the prospect of establishing their manufacturing bases in India.India has recently inaugurated the world’s largest mobile phone factory in association with the South Korean tech giant Samsung in Noida, which is expected to annually manufacture 52 million smartphone units once it achieves full production capacity. The plant will, by itself, generate 15,000 jobs locally and increase Samsung’s India-based production from 10 percent to 50 percent over the next 3 years. Our nation is, moreover, in talks with multiple internationally dominant players, including Apple, while simultaneously acting as a catalyst for its innovation-driven indigenous brands to collectively make it a global manufacturing behemoth, and thereby accomplishing the true vision of ‘Make in India’.What is the most important benefit enjoyed by Indians by establishing manufacturing factories of multinational organizations in India?

Direction: Read the passage given below and then answer the questions given below the passage. Some words may be highlighted for your attention. Read carefully.Since the beginning of this decade, India’s unemployment rate has been juggling from 3.62 percent to 3.41 percent. In 2017, the figure stood at 3.52 percent, roughly above the decade’s mean of 3.51 percent. Now, if you consider India’s population of 1.35 billion, this gives us more than 47 million, or over 4.7 crores, unemployed Indians– who are capable of contributing to the nation’s workforce– always unemployed. But can the situation change for good with the ‘Make in India’ initiative? As a matter of fact, it is an eventual possibility. Before we delve deeper into the subject, let us first understand why ‘Make in India’ is imperative, especially to our nation. India’s top-ten imports account for almost four-fifths (78.2 percent) of its purchases from other countries. Besides mineral fuels, this includes $46.9 billion (10.6 percent) worth of electrical machinery and equipment, $36 billion (8.1 percent) worth of types of machinery such as computers and electronics. Nearly 50 percent of all electronic products sold in India are imported. If India is able to successfully build its manufacturing infrastructure, the nation can save billions of its foreign reserves annually, which is as high as $116.2 billion just out of these commodities, by merely catering to the local demand. But the real fruits of ‘Make in India’ become more apparent if we bring international trade into perspective.For long, India has suffered because of its underdeveloped industrial infrastructure. This is despite the country’s favourable geographical location that has access to nearly all Asiatic countries and a budding market of Africa. The nation, on one hand, holds a central location between Far-Eastern and Middle-Eastern markets, and on the other, has access to European market through the Gulf of Aden, and to Australia via the South East. It has to be also noted that these trade routes are sea-based, that are more economical than land-based freight transportation. If India successfully builds its manufacturing infrastructure matching the global benchmark, the nation has the true potential to emerge as a dominant global supplier. Here, the country is also benefitted by the globally changing demographics.India has one of the youngest populations and will house a billion people aged between 15 and 64 years by 2027, essentially the world’s largest workforce. The country also has the advantage of wage arbitrage with the cost of factory labour less than $2 per hour. Technologically speaking, India’s digitization drive is increasing its overall efficiency and effectiveness in the trade with every day that passes. The nation further benefits by its ability to indigenously build ancillary systems, such as purpose-specific satellites. The nation also has one of the globally leading IT service and support infrastructures and a skilled workforce. These are some of the reasons why multinational organizations are considering the prospect of establishing their manufacturing bases in India.India has recently inaugurated the world’s largest mobile phone factory in association with the South Korean tech giant Samsung in Noida, which is expected to annually manufacture 52 million smartphone units once it achieves full production capacity. The plant will, by itself, generate 15,000 jobs locally and increase Samsung’s India-based production from 10 percent to 50 percent over the next 3 years. Our nation is, moreover, in talks with multiple internationally dominant players, including Apple, while simultaneously acting as a catalyst for its innovation-driven indigenous brands to collectively make it a global manufacturing behemoth, and thereby accomplishing the true vision of ‘Make in India’.The author is likely to disagree with which of the following statements?

Direction: Read the passage given below and then answer the questions given below the passage. Some words may be highlighted for your attention. Read carefully.Since the beginning of this decade, India’s unemployment rate has been juggling from 3.62 percent to 3.41 percent. In 2017, the figure stood at 3.52 percent, roughly above the decade’s mean of 3.51 percent. Now, if you consider India’s population of 1.35 billion, this gives us more than 47 million, or over 4.7 crores, unemployed Indians– who are capable of contributing to the nation’s workforce– always unemployed. But can the situation change for good with the ‘Make in India’ initiative? As a matter of fact, it is an eventual possibility. Before we delve deeper into the subject, let us first understand why ‘Make in India’ is imperative, especially to our nation. India’s top-ten imports account for almost four-fifths (78.2 percent) of its purchases from other countries. Besides mineral fuels, this includes $46.9 billion (10.6 percent) worth of electrical machinery and equipment, $36 billion (8.1 percent) worth of types of machinery such as computers and electronics. Nearly 50 percent of all electronic products sold in India are imported. If India is able to successfully build its manufacturing infrastructure, the nation can save billions of its foreign reserves annually, which is as high as $116.2 billion just out of these commodities, by merely catering to the local demand. But the real fruits of ‘Make in India’ become more apparent if we bring international trade into perspective.For long, India has suffered because of its underdeveloped industrial infrastructure. This is despite the country’s favourable geographical location that has access to nearly all Asiatic countries and a budding market of Africa. The nation, on one hand, holds a central location between Far-Eastern and Middle-Eastern markets, and on the other, has access to European market through the Gulf of Aden, and to Australia via the South East. It has to be also noted that these trade routes are sea-based, that are more economical than land-based freight transportation. If India successfully builds its manufacturing infrastructure matching the global benchmark, the nation has the true potential to emerge as a dominant global supplier. Here, the country is also benefitted by the globally changing demographics.India has one of the youngest populations and will house a billion people aged between 15 and 64 years by 2027, essentially the world’s largest workforce. The country also has the advantage of wage arbitrage with the cost of factory labour less than $2 per hour. Technologically speaking, India’s digitization drive is increasing its overall efficiency and effectiveness in the trade with every day that passes. The nation further benefits by its ability to indigenously build ancillary systems, such as purpose-specific satellites. The nation also has one of the globally leading IT service and support infrastructures and a skilled workforce. These are some of the reasons why multinational organizations are considering the prospect of establishing their manufacturing bases in India.India has recently inaugurated the world’s largest mobile phone factory in association with the South Korean tech giant Samsung in Noida, which is expected to annually manufacture 52 million smartphone units once it achieves full production capacity. The plant will, by itself, generate 15,000 jobs locally and increase Samsung’s India-based production from 10 percent to 50 percent over the next 3 years. Our nation is, moreover, in talks with multiple internationally dominant players, including Apple, while simultaneously acting as a catalyst for its innovation-driven indigenous brands to collectively make it a global manufacturing behemoth, and thereby accomplishing the true vision of ‘Make in India’.What is the meaning of the word delve used in the passage?

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Direction: Read the following passage carefully and answer the questions that follow.The China Pakistan Economic Corridor (CPEC) mega project has been widely welcomed in Pakistan as a game changer. The core of the project is a 2,500-km road and rail link, which will connect the port of Gwadar on the Arabian Sea to the Chinese city of Kashgar in Central Asia. The Chinese government, the principal sponsor, says it will invest $46 billion on the project.The money will be spent not just on the road and rail link but also on a host of other infrastructure projects. These include an expansion of Gwadar port and a new international airport in the city. Also included are several power projects based on coal and renewable energy that will add about 10.4GW to Pakistan's power grid. Oil and gas pipelines are in the offing as well.There can be no dispute that the CPEC is a game changer. Pakistan's faltering economy will get a huge boost. China will get access to a warm water port. Shipping time and cost for exports from Western China will be reduced. Oil and gas will be offloaded at Gwadar and piped along the corridor to China.The announcement of the project shone a bright light in the gloom that surrounds the Pakistani economy. Elation is the order of the day. There is broad consensus that CPEC is an unqualified “good.” But could it be that, dazzled by the light, we have neglected to conduct a rigorous analysis of this mega project and what it means to Pakistan?In a deal like this emotions have to be set aside. There is no doubt that China has been a strong and constant supporter of Pakistan throughout our history. But it should also be clear that when it makes investment decisions such as the proposed $46 billion CPEC it makes them in the cold light of its self-interest — as one would expect from any responsible nation. And as a responsible nation, conscious of its sovereignty and self-respect, Pakistan should also apply the same standard to its assessment of the project.Clearly the advantages of the CPEC are many, significant, and undeniable. But are there any aspects that may be detrimental to our interests in the long term? The first issue that comes to mind is sovereignty.By leasing out vast tracts of land in the city of Gwadar and all along the route of the corridor, we in fact transfer sovereignty of some of our territory to a foreign power. And this is no ordinary foreign power. China is an emerging superpower with global ambitions. Have we built into the deal the necessary safeguards that will allow us to retain control of our territory if circumstances change?It is proposed that most of the construction work will be done by thousands of Chinese workers. Does this make sense for Pakistan given widespread and painful unemployment? Would it not be in our interest to have Pakistanis do the work? Should contracts not include provisions for contractors to train and employ Pakistani workers and engineers?As a global manufacturing powerhouse China plans to bring all or most of the equipment it needs for projects from its own suppliers. But would not our interest be better served if we insisted on having equipment made in Pakistan? Part of the proposed investment should be diverted to setting up factories inside Pakistan to supply the diverse range of equipment and machinery to the various CPEC projects.Have we asked the right questions in regard to the financing? Forty-six billion dollars is a lot of money. Is it a grant or gift to Pakistan? Is it a loan? If the latter, what is the payback period and the applicable rate? What happens if there is a default? Have the tariff rates payable to Pakistan for use of port facilities, road and rail links, and oil and gas pipelines been established and agreed?These and a whole range of other issues must be addressed when so much is at stake. But it seems that the euphoria of attracting this mega project has perhaps distracted us from the imperative of due diligence and the rigorous risk-based cost benefit analysis that this entails.Let there be no doubt: The CPEC is wonderful news for Pakistan. But it must move forward with its eyes wide open. And with a full understanding of not only the rewards that the project holds for Pakistan, but also the possible pitfalls that may lie in wait for us."Elation is the order of the day.Q. According to the passage, which of the following is lacking on Pakistan's part with respect to the CPEC proposal?a)Self-assessmentb)Acceptancec)Deniald)Both A and Be)Both B and CCorrect answer is option 'A'. Can you explain this answer?
Question Description
Direction: Read the following passage carefully and answer the questions that follow.The China Pakistan Economic Corridor (CPEC) mega project has been widely welcomed in Pakistan as a game changer. The core of the project is a 2,500-km road and rail link, which will connect the port of Gwadar on the Arabian Sea to the Chinese city of Kashgar in Central Asia. The Chinese government, the principal sponsor, says it will invest $46 billion on the project.The money will be spent not just on the road and rail link but also on a host of other infrastructure projects. These include an expansion of Gwadar port and a new international airport in the city. Also included are several power projects based on coal and renewable energy that will add about 10.4GW to Pakistan's power grid. Oil and gas pipelines are in the offing as well.There can be no dispute that the CPEC is a game changer. Pakistan's faltering economy will get a huge boost. China will get access to a warm water port. Shipping time and cost for exports from Western China will be reduced. Oil and gas will be offloaded at Gwadar and piped along the corridor to China.The announcement of the project shone a bright light in the gloom that surrounds the Pakistani economy. Elation is the order of the day. There is broad consensus that CPEC is an unqualified “good.” But could it be that, dazzled by the light, we have neglected to conduct a rigorous analysis of this mega project and what it means to Pakistan?In a deal like this emotions have to be set aside. There is no doubt that China has been a strong and constant supporter of Pakistan throughout our history. But it should also be clear that when it makes investment decisions such as the proposed $46 billion CPEC it makes them in the cold light of its self-interest — as one would expect from any responsible nation. And as a responsible nation, conscious of its sovereignty and self-respect, Pakistan should also apply the same standard to its assessment of the project.Clearly the advantages of the CPEC are many, significant, and undeniable. But are there any aspects that may be detrimental to our interests in the long term? The first issue that comes to mind is sovereignty.By leasing out vast tracts of land in the city of Gwadar and all along the route of the corridor, we in fact transfer sovereignty of some of our territory to a foreign power. And this is no ordinary foreign power. China is an emerging superpower with global ambitions. Have we built into the deal the necessary safeguards that will allow us to retain control of our territory if circumstances change?It is proposed that most of the construction work will be done by thousands of Chinese workers. Does this make sense for Pakistan given widespread and painful unemployment? Would it not be in our interest to have Pakistanis do the work? Should contracts not include provisions for contractors to train and employ Pakistani workers and engineers?As a global manufacturing powerhouse China plans to bring all or most of the equipment it needs for projects from its own suppliers. But would not our interest be better served if we insisted on having equipment made in Pakistan? Part of the proposed investment should be diverted to setting up factories inside Pakistan to supply the diverse range of equipment and machinery to the various CPEC projects.Have we asked the right questions in regard to the financing? Forty-six billion dollars is a lot of money. Is it a grant or gift to Pakistan? Is it a loan? If the latter, what is the payback period and the applicable rate? What happens if there is a default? Have the tariff rates payable to Pakistan for use of port facilities, road and rail links, and oil and gas pipelines been established and agreed?These and a whole range of other issues must be addressed when so much is at stake. But it seems that the euphoria of attracting this mega project has perhaps distracted us from the imperative of due diligence and the rigorous risk-based cost benefit analysis that this entails.Let there be no doubt: The CPEC is wonderful news for Pakistan. But it must move forward with its eyes wide open. And with a full understanding of not only the rewards that the project holds for Pakistan, but also the possible pitfalls that may lie in wait for us."Elation is the order of the day.Q. According to the passage, which of the following is lacking on Pakistan's part with respect to the CPEC proposal?a)Self-assessmentb)Acceptancec)Deniald)Both A and Be)Both B and CCorrect answer is option 'A'. Can you explain this answer? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Direction: Read the following passage carefully and answer the questions that follow.The China Pakistan Economic Corridor (CPEC) mega project has been widely welcomed in Pakistan as a game changer. The core of the project is a 2,500-km road and rail link, which will connect the port of Gwadar on the Arabian Sea to the Chinese city of Kashgar in Central Asia. The Chinese government, the principal sponsor, says it will invest $46 billion on the project.The money will be spent not just on the road and rail link but also on a host of other infrastructure projects. These include an expansion of Gwadar port and a new international airport in the city. Also included are several power projects based on coal and renewable energy that will add about 10.4GW to Pakistan's power grid. Oil and gas pipelines are in the offing as well.There can be no dispute that the CPEC is a game changer. Pakistan's faltering economy will get a huge boost. China will get access to a warm water port. Shipping time and cost for exports from Western China will be reduced. Oil and gas will be offloaded at Gwadar and piped along the corridor to China.The announcement of the project shone a bright light in the gloom that surrounds the Pakistani economy. Elation is the order of the day. There is broad consensus that CPEC is an unqualified “good.” But could it be that, dazzled by the light, we have neglected to conduct a rigorous analysis of this mega project and what it means to Pakistan?In a deal like this emotions have to be set aside. There is no doubt that China has been a strong and constant supporter of Pakistan throughout our history. But it should also be clear that when it makes investment decisions such as the proposed $46 billion CPEC it makes them in the cold light of its self-interest — as one would expect from any responsible nation. And as a responsible nation, conscious of its sovereignty and self-respect, Pakistan should also apply the same standard to its assessment of the project.Clearly the advantages of the CPEC are many, significant, and undeniable. But are there any aspects that may be detrimental to our interests in the long term? The first issue that comes to mind is sovereignty.By leasing out vast tracts of land in the city of Gwadar and all along the route of the corridor, we in fact transfer sovereignty of some of our territory to a foreign power. And this is no ordinary foreign power. China is an emerging superpower with global ambitions. Have we built into the deal the necessary safeguards that will allow us to retain control of our territory if circumstances change?It is proposed that most of the construction work will be done by thousands of Chinese workers. Does this make sense for Pakistan given widespread and painful unemployment? Would it not be in our interest to have Pakistanis do the work? Should contracts not include provisions for contractors to train and employ Pakistani workers and engineers?As a global manufacturing powerhouse China plans to bring all or most of the equipment it needs for projects from its own suppliers. But would not our interest be better served if we insisted on having equipment made in Pakistan? Part of the proposed investment should be diverted to setting up factories inside Pakistan to supply the diverse range of equipment and machinery to the various CPEC projects.Have we asked the right questions in regard to the financing? Forty-six billion dollars is a lot of money. Is it a grant or gift to Pakistan? Is it a loan? If the latter, what is the payback period and the applicable rate? What happens if there is a default? Have the tariff rates payable to Pakistan for use of port facilities, road and rail links, and oil and gas pipelines been established and agreed?These and a whole range of other issues must be addressed when so much is at stake. But it seems that the euphoria of attracting this mega project has perhaps distracted us from the imperative of due diligence and the rigorous risk-based cost benefit analysis that this entails.Let there be no doubt: The CPEC is wonderful news for Pakistan. But it must move forward with its eyes wide open. And with a full understanding of not only the rewards that the project holds for Pakistan, but also the possible pitfalls that may lie in wait for us."Elation is the order of the day.Q. According to the passage, which of the following is lacking on Pakistan's part with respect to the CPEC proposal?a)Self-assessmentb)Acceptancec)Deniald)Both A and Be)Both B and CCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: Read the following passage carefully and answer the questions that follow.The China Pakistan Economic Corridor (CPEC) mega project has been widely welcomed in Pakistan as a game changer. The core of the project is a 2,500-km road and rail link, which will connect the port of Gwadar on the Arabian Sea to the Chinese city of Kashgar in Central Asia. The Chinese government, the principal sponsor, says it will invest $46 billion on the project.The money will be spent not just on the road and rail link but also on a host of other infrastructure projects. These include an expansion of Gwadar port and a new international airport in the city. Also included are several power projects based on coal and renewable energy that will add about 10.4GW to Pakistan's power grid. Oil and gas pipelines are in the offing as well.There can be no dispute that the CPEC is a game changer. Pakistan's faltering economy will get a huge boost. China will get access to a warm water port. Shipping time and cost for exports from Western China will be reduced. Oil and gas will be offloaded at Gwadar and piped along the corridor to China.The announcement of the project shone a bright light in the gloom that surrounds the Pakistani economy. Elation is the order of the day. There is broad consensus that CPEC is an unqualified “good.” But could it be that, dazzled by the light, we have neglected to conduct a rigorous analysis of this mega project and what it means to Pakistan?In a deal like this emotions have to be set aside. There is no doubt that China has been a strong and constant supporter of Pakistan throughout our history. But it should also be clear that when it makes investment decisions such as the proposed $46 billion CPEC it makes them in the cold light of its self-interest — as one would expect from any responsible nation. And as a responsible nation, conscious of its sovereignty and self-respect, Pakistan should also apply the same standard to its assessment of the project.Clearly the advantages of the CPEC are many, significant, and undeniable. But are there any aspects that may be detrimental to our interests in the long term? The first issue that comes to mind is sovereignty.By leasing out vast tracts of land in the city of Gwadar and all along the route of the corridor, we in fact transfer sovereignty of some of our territory to a foreign power. And this is no ordinary foreign power. China is an emerging superpower with global ambitions. Have we built into the deal the necessary safeguards that will allow us to retain control of our territory if circumstances change?It is proposed that most of the construction work will be done by thousands of Chinese workers. Does this make sense for Pakistan given widespread and painful unemployment? Would it not be in our interest to have Pakistanis do the work? Should contracts not include provisions for contractors to train and employ Pakistani workers and engineers?As a global manufacturing powerhouse China plans to bring all or most of the equipment it needs for projects from its own suppliers. But would not our interest be better served if we insisted on having equipment made in Pakistan? Part of the proposed investment should be diverted to setting up factories inside Pakistan to supply the diverse range of equipment and machinery to the various CPEC projects.Have we asked the right questions in regard to the financing? Forty-six billion dollars is a lot of money. Is it a grant or gift to Pakistan? Is it a loan? If the latter, what is the payback period and the applicable rate? What happens if there is a default? Have the tariff rates payable to Pakistan for use of port facilities, road and rail links, and oil and gas pipelines been established and agreed?These and a whole range of other issues must be addressed when so much is at stake. But it seems that the euphoria of attracting this mega project has perhaps distracted us from the imperative of due diligence and the rigorous risk-based cost benefit analysis that this entails.Let there be no doubt: The CPEC is wonderful news for Pakistan. But it must move forward with its eyes wide open. And with a full understanding of not only the rewards that the project holds for Pakistan, but also the possible pitfalls that may lie in wait for us."Elation is the order of the day.Q. According to the passage, which of the following is lacking on Pakistan's part with respect to the CPEC proposal?a)Self-assessmentb)Acceptancec)Deniald)Both A and Be)Both B and CCorrect answer is option 'A'. Can you explain this answer?.
Solutions for Direction: Read the following passage carefully and answer the questions that follow.The China Pakistan Economic Corridor (CPEC) mega project has been widely welcomed in Pakistan as a game changer. The core of the project is a 2,500-km road and rail link, which will connect the port of Gwadar on the Arabian Sea to the Chinese city of Kashgar in Central Asia. The Chinese government, the principal sponsor, says it will invest $46 billion on the project.The money will be spent not just on the road and rail link but also on a host of other infrastructure projects. These include an expansion of Gwadar port and a new international airport in the city. Also included are several power projects based on coal and renewable energy that will add about 10.4GW to Pakistan's power grid. Oil and gas pipelines are in the offing as well.There can be no dispute that the CPEC is a game changer. Pakistan's faltering economy will get a huge boost. China will get access to a warm water port. Shipping time and cost for exports from Western China will be reduced. Oil and gas will be offloaded at Gwadar and piped along the corridor to China.The announcement of the project shone a bright light in the gloom that surrounds the Pakistani economy. Elation is the order of the day. There is broad consensus that CPEC is an unqualified “good.” But could it be that, dazzled by the light, we have neglected to conduct a rigorous analysis of this mega project and what it means to Pakistan?In a deal like this emotions have to be set aside. There is no doubt that China has been a strong and constant supporter of Pakistan throughout our history. But it should also be clear that when it makes investment decisions such as the proposed $46 billion CPEC it makes them in the cold light of its self-interest — as one would expect from any responsible nation. And as a responsible nation, conscious of its sovereignty and self-respect, Pakistan should also apply the same standard to its assessment of the project.Clearly the advantages of the CPEC are many, significant, and undeniable. But are there any aspects that may be detrimental to our interests in the long term? The first issue that comes to mind is sovereignty.By leasing out vast tracts of land in the city of Gwadar and all along the route of the corridor, we in fact transfer sovereignty of some of our territory to a foreign power. And this is no ordinary foreign power. China is an emerging superpower with global ambitions. Have we built into the deal the necessary safeguards that will allow us to retain control of our territory if circumstances change?It is proposed that most of the construction work will be done by thousands of Chinese workers. Does this make sense for Pakistan given widespread and painful unemployment? Would it not be in our interest to have Pakistanis do the work? Should contracts not include provisions for contractors to train and employ Pakistani workers and engineers?As a global manufacturing powerhouse China plans to bring all or most of the equipment it needs for projects from its own suppliers. But would not our interest be better served if we insisted on having equipment made in Pakistan? Part of the proposed investment should be diverted to setting up factories inside Pakistan to supply the diverse range of equipment and machinery to the various CPEC projects.Have we asked the right questions in regard to the financing? Forty-six billion dollars is a lot of money. Is it a grant or gift to Pakistan? Is it a loan? If the latter, what is the payback period and the applicable rate? What happens if there is a default? Have the tariff rates payable to Pakistan for use of port facilities, road and rail links, and oil and gas pipelines been established and agreed?These and a whole range of other issues must be addressed when so much is at stake. But it seems that the euphoria of attracting this mega project has perhaps distracted us from the imperative of due diligence and the rigorous risk-based cost benefit analysis that this entails.Let there be no doubt: The CPEC is wonderful news for Pakistan. But it must move forward with its eyes wide open. And with a full understanding of not only the rewards that the project holds for Pakistan, but also the possible pitfalls that may lie in wait for us."Elation is the order of the day.Q. According to the passage, which of the following is lacking on Pakistan's part with respect to the CPEC proposal?a)Self-assessmentb)Acceptancec)Deniald)Both A and Be)Both B and CCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Banking Exams. Download more important topics, notes, lectures and mock test series for Banking Exams Exam by signing up for free.
Here you can find the meaning of Direction: Read the following passage carefully and answer the questions that follow.The China Pakistan Economic Corridor (CPEC) mega project has been widely welcomed in Pakistan as a game changer. The core of the project is a 2,500-km road and rail link, which will connect the port of Gwadar on the Arabian Sea to the Chinese city of Kashgar in Central Asia. The Chinese government, the principal sponsor, says it will invest $46 billion on the project.The money will be spent not just on the road and rail link but also on a host of other infrastructure projects. These include an expansion of Gwadar port and a new international airport in the city. Also included are several power projects based on coal and renewable energy that will add about 10.4GW to Pakistan's power grid. Oil and gas pipelines are in the offing as well.There can be no dispute that the CPEC is a game changer. Pakistan's faltering economy will get a huge boost. China will get access to a warm water port. Shipping time and cost for exports from Western China will be reduced. Oil and gas will be offloaded at Gwadar and piped along the corridor to China.The announcement of the project shone a bright light in the gloom that surrounds the Pakistani economy. Elation is the order of the day. There is broad consensus that CPEC is an unqualified “good.” But could it be that, dazzled by the light, we have neglected to conduct a rigorous analysis of this mega project and what it means to Pakistan?In a deal like this emotions have to be set aside. There is no doubt that China has been a strong and constant supporter of Pakistan throughout our history. But it should also be clear that when it makes investment decisions such as the proposed $46 billion CPEC it makes them in the cold light of its self-interest — as one would expect from any responsible nation. And as a responsible nation, conscious of its sovereignty and self-respect, Pakistan should also apply the same standard to its assessment of the project.Clearly the advantages of the CPEC are many, significant, and undeniable. But are there any aspects that may be detrimental to our interests in the long term? The first issue that comes to mind is sovereignty.By leasing out vast tracts of land in the city of Gwadar and all along the route of the corridor, we in fact transfer sovereignty of some of our territory to a foreign power. And this is no ordinary foreign power. China is an emerging superpower with global ambitions. Have we built into the deal the necessary safeguards that will allow us to retain control of our territory if circumstances change?It is proposed that most of the construction work will be done by thousands of Chinese workers. Does this make sense for Pakistan given widespread and painful unemployment? Would it not be in our interest to have Pakistanis do the work? Should contracts not include provisions for contractors to train and employ Pakistani workers and engineers?As a global manufacturing powerhouse China plans to bring all or most of the equipment it needs for projects from its own suppliers. But would not our interest be better served if we insisted on having equipment made in Pakistan? Part of the proposed investment should be diverted to setting up factories inside Pakistan to supply the diverse range of equipment and machinery to the various CPEC projects.Have we asked the right questions in regard to the financing? Forty-six billion dollars is a lot of money. Is it a grant or gift to Pakistan? Is it a loan? If the latter, what is the payback period and the applicable rate? What happens if there is a default? Have the tariff rates payable to Pakistan for use of port facilities, road and rail links, and oil and gas pipelines been established and agreed?These and a whole range of other issues must be addressed when so much is at stake. But it seems that the euphoria of attracting this mega project has perhaps distracted us from the imperative of due diligence and the rigorous risk-based cost benefit analysis that this entails.Let there be no doubt: The CPEC is wonderful news for Pakistan. But it must move forward with its eyes wide open. And with a full understanding of not only the rewards that the project holds for Pakistan, but also the possible pitfalls that may lie in wait for us."Elation is the order of the day.Q. According to the passage, which of the following is lacking on Pakistan's part with respect to the CPEC proposal?a)Self-assessmentb)Acceptancec)Deniald)Both A and Be)Both B and CCorrect answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Direction: Read the following passage carefully and answer the questions that follow.The China Pakistan Economic Corridor (CPEC) mega project has been widely welcomed in Pakistan as a game changer. The core of the project is a 2,500-km road and rail link, which will connect the port of Gwadar on the Arabian Sea to the Chinese city of Kashgar in Central Asia. The Chinese government, the principal sponsor, says it will invest $46 billion on the project.The money will be spent not just on the road and rail link but also on a host of other infrastructure projects. These include an expansion of Gwadar port and a new international airport in the city. Also included are several power projects based on coal and renewable energy that will add about 10.4GW to Pakistan's power grid. Oil and gas pipelines are in the offing as well.There can be no dispute that the CPEC is a game changer. Pakistan's faltering economy will get a huge boost. China will get access to a warm water port. Shipping time and cost for exports from Western China will be reduced. Oil and gas will be offloaded at Gwadar and piped along the corridor to China.The announcement of the project shone a bright light in the gloom that surrounds the Pakistani economy. Elation is the order of the day. There is broad consensus that CPEC is an unqualified “good.” But could it be that, dazzled by the light, we have neglected to conduct a rigorous analysis of this mega project and what it means to Pakistan?In a deal like this emotions have to be set aside. There is no doubt that China has been a strong and constant supporter of Pakistan throughout our history. But it should also be clear that when it makes investment decisions such as the proposed $46 billion CPEC it makes them in the cold light of its self-interest — as one would expect from any responsible nation. And as a responsible nation, conscious of its sovereignty and self-respect, Pakistan should also apply the same standard to its assessment of the project.Clearly the advantages of the CPEC are many, significant, and undeniable. But are there any aspects that may be detrimental to our interests in the long term? The first issue that comes to mind is sovereignty.By leasing out vast tracts of land in the city of Gwadar and all along the route of the corridor, we in fact transfer sovereignty of some of our territory to a foreign power. And this is no ordinary foreign power. China is an emerging superpower with global ambitions. Have we built into the deal the necessary safeguards that will allow us to retain control of our territory if circumstances change?It is proposed that most of the construction work will be done by thousands of Chinese workers. Does this make sense for Pakistan given widespread and painful unemployment? Would it not be in our interest to have Pakistanis do the work? Should contracts not include provisions for contractors to train and employ Pakistani workers and engineers?As a global manufacturing powerhouse China plans to bring all or most of the equipment it needs for projects from its own suppliers. But would not our interest be better served if we insisted on having equipment made in Pakistan? Part of the proposed investment should be diverted to setting up factories inside Pakistan to supply the diverse range of equipment and machinery to the various CPEC projects.Have we asked the right questions in regard to the financing? Forty-six billion dollars is a lot of money. Is it a grant or gift to Pakistan? Is it a loan? If the latter, what is the payback period and the applicable rate? What happens if there is a default? Have the tariff rates payable to Pakistan for use of port facilities, road and rail links, and oil and gas pipelines been established and agreed?These and a whole range of other issues must be addressed when so much is at stake. But it seems that the euphoria of attracting this mega project has perhaps distracted us from the imperative of due diligence and the rigorous risk-based cost benefit analysis that this entails.Let there be no doubt: The CPEC is wonderful news for Pakistan. But it must move forward with its eyes wide open. And with a full understanding of not only the rewards that the project holds for Pakistan, but also the possible pitfalls that may lie in wait for us."Elation is the order of the day.Q. According to the passage, which of the following is lacking on Pakistan's part with respect to the CPEC proposal?a)Self-assessmentb)Acceptancec)Deniald)Both A and Be)Both B and CCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for Direction: Read the following passage carefully and answer the questions that follow.The China Pakistan Economic Corridor (CPEC) mega project has been widely welcomed in Pakistan as a game changer. The core of the project is a 2,500-km road and rail link, which will connect the port of Gwadar on the Arabian Sea to the Chinese city of Kashgar in Central Asia. The Chinese government, the principal sponsor, says it will invest $46 billion on the project.The money will be spent not just on the road and rail link but also on a host of other infrastructure projects. These include an expansion of Gwadar port and a new international airport in the city. Also included are several power projects based on coal and renewable energy that will add about 10.4GW to Pakistan's power grid. Oil and gas pipelines are in the offing as well.There can be no dispute that the CPEC is a game changer. Pakistan's faltering economy will get a huge boost. China will get access to a warm water port. Shipping time and cost for exports from Western China will be reduced. Oil and gas will be offloaded at Gwadar and piped along the corridor to China.The announcement of the project shone a bright light in the gloom that surrounds the Pakistani economy. Elation is the order of the day. There is broad consensus that CPEC is an unqualified “good.” But could it be that, dazzled by the light, we have neglected to conduct a rigorous analysis of this mega project and what it means to Pakistan?In a deal like this emotions have to be set aside. There is no doubt that China has been a strong and constant supporter of Pakistan throughout our history. But it should also be clear that when it makes investment decisions such as the proposed $46 billion CPEC it makes them in the cold light of its self-interest — as one would expect from any responsible nation. And as a responsible nation, conscious of its sovereignty and self-respect, Pakistan should also apply the same standard to its assessment of the project.Clearly the advantages of the CPEC are many, significant, and undeniable. But are there any aspects that may be detrimental to our interests in the long term? The first issue that comes to mind is sovereignty.By leasing out vast tracts of land in the city of Gwadar and all along the route of the corridor, we in fact transfer sovereignty of some of our territory to a foreign power. And this is no ordinary foreign power. China is an emerging superpower with global ambitions. Have we built into the deal the necessary safeguards that will allow us to retain control of our territory if circumstances change?It is proposed that most of the construction work will be done by thousands of Chinese workers. Does this make sense for Pakistan given widespread and painful unemployment? Would it not be in our interest to have Pakistanis do the work? Should contracts not include provisions for contractors to train and employ Pakistani workers and engineers?As a global manufacturing powerhouse China plans to bring all or most of the equipment it needs for projects from its own suppliers. But would not our interest be better served if we insisted on having equipment made in Pakistan? Part of the proposed investment should be diverted to setting up factories inside Pakistan to supply the diverse range of equipment and machinery to the various CPEC projects.Have we asked the right questions in regard to the financing? Forty-six billion dollars is a lot of money. Is it a grant or gift to Pakistan? Is it a loan? If the latter, what is the payback period and the applicable rate? What happens if there is a default? Have the tariff rates payable to Pakistan for use of port facilities, road and rail links, and oil and gas pipelines been established and agreed?These and a whole range of other issues must be addressed when so much is at stake. But it seems that the euphoria of attracting this mega project has perhaps distracted us from the imperative of due diligence and the rigorous risk-based cost benefit analysis that this entails.Let there be no doubt: The CPEC is wonderful news for Pakistan. But it must move forward with its eyes wide open. And with a full understanding of not only the rewards that the project holds for Pakistan, but also the possible pitfalls that may lie in wait for us."Elation is the order of the day.Q. According to the passage, which of the following is lacking on Pakistan's part with respect to the CPEC proposal?a)Self-assessmentb)Acceptancec)Deniald)Both A and Be)Both B and CCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of Direction: Read the following passage carefully and answer the questions that follow.The China Pakistan Economic Corridor (CPEC) mega project has been widely welcomed in Pakistan as a game changer. The core of the project is a 2,500-km road and rail link, which will connect the port of Gwadar on the Arabian Sea to the Chinese city of Kashgar in Central Asia. The Chinese government, the principal sponsor, says it will invest $46 billion on the project.The money will be spent not just on the road and rail link but also on a host of other infrastructure projects. These include an expansion of Gwadar port and a new international airport in the city. Also included are several power projects based on coal and renewable energy that will add about 10.4GW to Pakistan's power grid. Oil and gas pipelines are in the offing as well.There can be no dispute that the CPEC is a game changer. Pakistan's faltering economy will get a huge boost. China will get access to a warm water port. Shipping time and cost for exports from Western China will be reduced. Oil and gas will be offloaded at Gwadar and piped along the corridor to China.The announcement of the project shone a bright light in the gloom that surrounds the Pakistani economy. Elation is the order of the day. There is broad consensus that CPEC is an unqualified “good.” But could it be that, dazzled by the light, we have neglected to conduct a rigorous analysis of this mega project and what it means to Pakistan?In a deal like this emotions have to be set aside. There is no doubt that China has been a strong and constant supporter of Pakistan throughout our history. But it should also be clear that when it makes investment decisions such as the proposed $46 billion CPEC it makes them in the cold light of its self-interest — as one would expect from any responsible nation. And as a responsible nation, conscious of its sovereignty and self-respect, Pakistan should also apply the same standard to its assessment of the project.Clearly the advantages of the CPEC are many, significant, and undeniable. But are there any aspects that may be detrimental to our interests in the long term? The first issue that comes to mind is sovereignty.By leasing out vast tracts of land in the city of Gwadar and all along the route of the corridor, we in fact transfer sovereignty of some of our territory to a foreign power. And this is no ordinary foreign power. China is an emerging superpower with global ambitions. Have we built into the deal the necessary safeguards that will allow us to retain control of our territory if circumstances change?It is proposed that most of the construction work will be done by thousands of Chinese workers. Does this make sense for Pakistan given widespread and painful unemployment? Would it not be in our interest to have Pakistanis do the work? Should contracts not include provisions for contractors to train and employ Pakistani workers and engineers?As a global manufacturing powerhouse China plans to bring all or most of the equipment it needs for projects from its own suppliers. But would not our interest be better served if we insisted on having equipment made in Pakistan? Part of the proposed investment should be diverted to setting up factories inside Pakistan to supply the diverse range of equipment and machinery to the various CPEC projects.Have we asked the right questions in regard to the financing? Forty-six billion dollars is a lot of money. Is it a grant or gift to Pakistan? Is it a loan? If the latter, what is the payback period and the applicable rate? What happens if there is a default? Have the tariff rates payable to Pakistan for use of port facilities, road and rail links, and oil and gas pipelines been established and agreed?These and a whole range of other issues must be addressed when so much is at stake. But it seems that the euphoria of attracting this mega project has perhaps distracted us from the imperative of due diligence and the rigorous risk-based cost benefit analysis that this entails.Let there be no doubt: The CPEC is wonderful news for Pakistan. But it must move forward with its eyes wide open. And with a full understanding of not only the rewards that the project holds for Pakistan, but also the possible pitfalls that may lie in wait for us."Elation is the order of the day.Q. According to the passage, which of the following is lacking on Pakistan's part with respect to the CPEC proposal?a)Self-assessmentb)Acceptancec)Deniald)Both A and Be)Both B and CCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Direction: Read the following passage carefully and answer the questions that follow.The China Pakistan Economic Corridor (CPEC) mega project has been widely welcomed in Pakistan as a game changer. The core of the project is a 2,500-km road and rail link, which will connect the port of Gwadar on the Arabian Sea to the Chinese city of Kashgar in Central Asia. The Chinese government, the principal sponsor, says it will invest $46 billion on the project.The money will be spent not just on the road and rail link but also on a host of other infrastructure projects. These include an expansion of Gwadar port and a new international airport in the city. Also included are several power projects based on coal and renewable energy that will add about 10.4GW to Pakistan's power grid. Oil and gas pipelines are in the offing as well.There can be no dispute that the CPEC is a game changer. Pakistan's faltering economy will get a huge boost. China will get access to a warm water port. Shipping time and cost for exports from Western China will be reduced. Oil and gas will be offloaded at Gwadar and piped along the corridor to China.The announcement of the project shone a bright light in the gloom that surrounds the Pakistani economy. Elation is the order of the day. There is broad consensus that CPEC is an unqualified “good.” But could it be that, dazzled by the light, we have neglected to conduct a rigorous analysis of this mega project and what it means to Pakistan?In a deal like this emotions have to be set aside. There is no doubt that China has been a strong and constant supporter of Pakistan throughout our history. But it should also be clear that when it makes investment decisions such as the proposed $46 billion CPEC it makes them in the cold light of its self-interest — as one would expect from any responsible nation. And as a responsible nation, conscious of its sovereignty and self-respect, Pakistan should also apply the same standard to its assessment of the project.Clearly the advantages of the CPEC are many, significant, and undeniable. But are there any aspects that may be detrimental to our interests in the long term? The first issue that comes to mind is sovereignty.By leasing out vast tracts of land in the city of Gwadar and all along the route of the corridor, we in fact transfer sovereignty of some of our territory to a foreign power. And this is no ordinary foreign power. China is an emerging superpower with global ambitions. Have we built into the deal the necessary safeguards that will allow us to retain control of our territory if circumstances change?It is proposed that most of the construction work will be done by thousands of Chinese workers. Does this make sense for Pakistan given widespread and painful unemployment? Would it not be in our interest to have Pakistanis do the work? Should contracts not include provisions for contractors to train and employ Pakistani workers and engineers?As a global manufacturing powerhouse China plans to bring all or most of the equipment it needs for projects from its own suppliers. But would not our interest be better served if we insisted on having equipment made in Pakistan? Part of the proposed investment should be diverted to setting up factories inside Pakistan to supply the diverse range of equipment and machinery to the various CPEC projects.Have we asked the right questions in regard to the financing? Forty-six billion dollars is a lot of money. Is it a grant or gift to Pakistan? Is it a loan? If the latter, what is the payback period and the applicable rate? What happens if there is a default? Have the tariff rates payable to Pakistan for use of port facilities, road and rail links, and oil and gas pipelines been established and agreed?These and a whole range of other issues must be addressed when so much is at stake. But it seems that the euphoria of attracting this mega project has perhaps distracted us from the imperative of due diligence and the rigorous risk-based cost benefit analysis that this entails.Let there be no doubt: The CPEC is wonderful news for Pakistan. But it must move forward with its eyes wide open. And with a full understanding of not only the rewards that the project holds for Pakistan, but also the possible pitfalls that may lie in wait for us."Elation is the order of the day.Q. According to the passage, which of the following is lacking on Pakistan's part with respect to the CPEC proposal?a)Self-assessmentb)Acceptancec)Deniald)Both A and Be)Both B and CCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice Banking Exams tests.
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