Written by : SMTV24x7





Colombo July 30: A deal took place recently. Sri Lankan Government has signed a deal to sell 70 % stake of its Hambantota port to Chinese Merchant Port Holdings Limited (CMPL) for RS 7057 crore.



Under the deal, the company would invest $1.1 billion in the port for 99 years and would get 15000 acres of land to be developed as an economic zone.



Sources say that Srilanka has agreed to the deal because it has failed to clear the debt given by Chinese government for building the port. Earlier China Government has spent $5 billion for creating world class infrastructure in Srilanka between 1971-2012.







However, India is worried about the deal because the port can be used as a military base and China can target the country from this base but Srilanka has said that the port would not be allowed for Military Purposes.



Experts have said Pakistan must learn a lesson from this deal because China would one day acquire land in Pakistan by building CPEC and by investing huge amounts. Let's hope that countries don't fall into the trap laid by China.