Pakistan's Largest Airport Becomes Operational, Part of the Chinese Belt and Road Initiative

Passengers wait for their boarding in the state-run Pakistan International Airlines flight to Paris after the airline resumed direct flights to Europe after the EU lifted a four-year ban, at the Islamabad International Airport, in Islamabad, Pakistan, Friday, Jan. 10, 2025. (AP Photo)
Passengers wait for their boarding in the state-run Pakistan International Airlines flight to Paris after the airline resumed direct flights to Europe after the EU lifted a four-year ban, at the Islamabad International Airport, in Islamabad, Pakistan, Friday, Jan. 10, 2025. (AP Photo)
TT

Pakistan's Largest Airport Becomes Operational, Part of the Chinese Belt and Road Initiative

Passengers wait for their boarding in the state-run Pakistan International Airlines flight to Paris after the airline resumed direct flights to Europe after the EU lifted a four-year ban, at the Islamabad International Airport, in Islamabad, Pakistan, Friday, Jan. 10, 2025. (AP Photo)
Passengers wait for their boarding in the state-run Pakistan International Airlines flight to Paris after the airline resumed direct flights to Europe after the EU lifted a four-year ban, at the Islamabad International Airport, in Islamabad, Pakistan, Friday, Jan. 10, 2025. (AP Photo)

Pakistan’s largest airport, funded and built in the country's restive southwest by Beijin g, has become operational, officials said Monday.
Gwadar airport is in the province of Balochistan, which has for decades been the scene of an insurgency by separatists demanding autonomy or outright independence.
Pakistani Defense Minister, Khawaja Mohammad Asif, and Chinese officials were among those attending a ceremony at Gwadar airport and watched the arrival of the Pakistan International Airlines inaugural flight from the southern city of Karachi.
The ceremony came months after Chinese Premier Li Qiang and his Pakistani counterpart Shehbaz Sharif virtually inaugurated the airport, which has a capacity of handling 400,000 travelers annually.
Beijing has invested heavily in the coastal city of Gwadar. Besides the airport, which has an estimated cost of $230 million, China has also constructed a deep seaport in Pakistan as part of Chinese President Xi Jinping's Belt and Road Initiative to increase trade by building infrastructure around the world.
Work started on Gawdar airport in 2019. It was supposed to be operational last year but was delayed after a surge in attacks by militants and separatists on Chinese nationals working on projects in the province.
In televised remarks, Asif thanked China for building the airport and said the airport would play a key role in improving the country's economy, attracting international investment and bringing prosperity to Balochistan.
Ethnic Baloch, who accuse the Chinese and others of economic exploitation, oppose the project and other Chinese initiatives in the province.
The Ministry of Planning and Development stated that the airport can handle a combination of ATR 72, Airbus, (A-300), Boeing (B-737), and Boeing (B-747) for domestic and international routes.
Gwadar airport is the country’s largest in terms of area, spread over 4,300 acres of land, according to Pakistan’s civil aviation.



Bitcoin Soars Past $109,000 Ahead of Possible Early Action on Crypto by Trump

FILE PHOTO: Sparks strike representation of cryptocurrency Bitcoin in this illustration taken November 24, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Sparks strike representation of cryptocurrency Bitcoin in this illustration taken November 24, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
TT

Bitcoin Soars Past $109,000 Ahead of Possible Early Action on Crypto by Trump

FILE PHOTO: Sparks strike representation of cryptocurrency Bitcoin in this illustration taken November 24, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Sparks strike representation of cryptocurrency Bitcoin in this illustration taken November 24, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

The price of bitcoin surged to over $109,000 early Monday, just hours ahead of President-elect Donald Trump’s inauguration, as a pumped up cryptocurrency industry bets he'll take action soon after returning to the White House.
Once a skeptic who said a few years ago that bitcoin “seems like a scam,” Trump has embraced digital currencies with a convert’s zeal. He's launched a new cryptocurrency venture and vowed on the campaign trail to take steps early in his presidency to make the US into the “crypto capital” of the world.
His promises including creating a US crypto stockpile, enacting industry-friendly regulation and event appointing a crypto “czar” for his administration.
“You’re going to be very happy with me,” Trump told crypto-enthusiasts at a bitcoin conference last summer.
Bitcoin is the world’s most popular cryptocurrency and was created in 2009 as a kind of electronic cash uncontrolled by banks or governments. It and newer forms of cryptocurrencies have moved from the financial fringes to the mainstream in wild fits and starts.
The highly volatile nature of cryptocurrencies as well as their use by criminals, scammers and rogue nations, has attracted plenty of critics, who say the digital currencies have limited utility and often are just Ponzi schemes, The Associated Press reported.
But crypto has so far defied naysayers and survived multiple prolonged price drops in its short lifespan. Wealthy players in the crypto industry, which felt unfairly targeted by the Biden administration, spent heavily to help Trump win last November’s election. Bitcoin has surged in price since Trump's victory, topping $100,000 for the first time last month before briefly sliding down to about $90,000. On Friday, it rose about 5%. It jumped more than $9,000 early Monday, according to CoinDesk.
Two years ago, bitcoin was trading at about $20,000.
Trump’s picks for key cabinet and regulatory positions are stocked with crypto supporters, including his choice to lead the Treasury and Commerce departments and the head of the Securities and Exchange Commission.
Key industry players held a first ever "Crypto Ball” on Friday to celebrate the first “crypto president." The event was sold out, with tickets costing several thousand dollars.