The Colombo Port City Project is a US $ 1.4 billion project that will play an important role for China’s ‘Silk Road’ project at sea.
China to build Port City in Sri Lanka (Photo- CHEC Port City Colombo Limited)
Chinese Port City Bill Approved in Sri Lanka Parliament: China’s strategy of capturing middle and low income countries as well as insular countries is slowly coming to the fore. Sri Lanka is completely caught in the web of China. In this episode, the parliament has passed a controversial bill on Thursday (About Chinese Port City in Sri Lanka). After the passing of this ‘Colombo Port City Economic Commission Bill’, the government says that now there will be huge investment in China-backed project, which will help the economy of Sri Lanka to grow. After two days of debate, the bill is passed.
The Sri Lankan opposition says that the passage of the bill will make the country a slave to the British. Here the name of China has been avoided by taking it directly and it has been addressed as English. They say that Sri Lanka can become a colony of China. The bill has been passed by 148 votes in the 225-member parliament (What is Chinese Port City). While 59 votes are against it. In the long debate about the bill, the opposition said that it would undermine the sovereignty and constitution of Sri Lanka. The Supreme Court also came in the middle but finally the government got the bill passed.
The constitution did not conform
The government said that it will be amended according to the guidelines of the Supreme Court. Therefore, neither a referendum was needed nor a two-thirds majority (Chinese Port City in Sri Lanka). Opposition and civil society groups had filed 18 petitions against the bill in the Supreme Court. These petitions demanded a referendum at the national level and the passage of the bill by a two-thirds majority in Parliament. The court completed its investigation on the bill on 23 April and said that some provisions of the Chinese Port City Bill are not in accordance with the Constitution.
‘Port City’ to be built on the sea
The Colombo Port City Project is a US $ 1.4 billion project, which will play an important role for China’s ‘Silk Road’ project at sea. It is also said to be the biggest development in the private sector in Sri Lanka. Under which China has built ‘Port City’ (port city) on the sea just behind the port of Colombo. The bill states that China will create a special economic zone. Economic zone refers to a place where taxes on labor, environment or factory construction are low and regulations are relaxed. In general terms, in order to develop one area, a zone is made there, so that trade can be done easily.
Where did Sri Lanka make a mistake?
China’s development has also been possible due to a similar zone. He has created many economic zones in Asia. Sri Lanka says that the creation of such a zone here will also encourage foreign investment, which will boost the economy (Hambantota Bandargah). But the biggest mistake has been made from Sri Lanka, that it has said that any currency registered abroad in this port city can be used on a large scale. In such a situation, Sri Lankan experts and journalists say that if this happens, then the trend of Chinese currency yuan will increase (Chinese Port City Explanation). Which is already in trend around Hambantota.
Will invest in yuan?
Regarding investment in the Chinese Port City to be built in Sri Lanka, it is being said that it will be in Yuan and not in Sri Lankan currency. Apart from this, China will be in control here. In the coming time, large-scale investment will also gradually decrease in Rupee (Sri Lankan currency). According to the Sitrade Maritime Report, this Chinese Port City may also have a passport of its own, which will have Mandarin (Chinese language) written on it. India and Japan also wanted a terminal here, but their proposal was rejected by Sri Lanka, after signing the MoU. But the real reason behind this is now revealed. And that is the reason for the construction of Chinese Port City.
China showed the same old dreams
China has shown the same old dreams to Sri Lanka about Port City, which it had shown during Hambantota. But the beautiful dream also broke as soon as I woke up (Hambantota Port news). China showed in the dream about Port City that once it becomes a city, it will become Asia’s largest financial hub. It was earlier said that Sri Lanka will earn huge revenue by developing Hambantota with Chinese money (Hambantota Sri Lanka). But being trapped in China’s debt trap, Sri Lanka handed over the same port to China in 2017 for 99 years.
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