As reported by the Financial Times on 26 June 2020, Pakistan was trying to negotiate Belt and Road repayments after it alleged that Chinese companies have inflated power project costs by billions of dollars.
It is advised that Pakistan suspend all the corrupted cooperation contracts signed with corrupted Chinese Communist Party, CCP, government which is responsible for covering up coronavirus information, deterring international inspection and stealing wealth of the Chinese people through international loans and grants without transparency until CCP is replaced with a democracy state, for example, the New Federal State of China, the Declaration of which upholds principles of rule of law, justice and independent scrutiny.
Inflating charges is just one of the means of stealing money to make senior CCP officials wealthy and increase the balances of their bank accounts in Switzerland and the Wall Street. It is frequently to overcharge fees by inflating set-up cost and other engineering costs in China under the CCP’s rule. Therefore, it is necessary to conduct independent audit on project cost. The related party relationship should be investigated and scrutinized before any project advisory service or audit could commence.
The Financial Action Task Force (FATF) Recommendations are being neglected by greed of those bankers in the Wall Street and Switzerland. The FATF is the global money laundering and terrorist financing watchdog. The inter-governmental body sets international standards that aim to prevent these illegal activities and the harm they cause to society. With more than 200 countries and jurisdictions committed to implementing them, the FATF has developed the FATFRecommendations, or FATF Standards, which ensure a coordinated global response to prevent organized crime, corruption and terrorism.
There’re several videos about money laundering:
- The first video showed what role FATF recommendations meant to play.
- The second video showed the great harm money laundering did.
- The third video is brief introduction of the essence of One Belt One Road
Author: CPA Jim
(The above content only represents the author’s personal opinion)