ISLAMABAD – The Foreign Office has issued important instructions about theChina Pakistan Economic Corridor.
FO has barred government officials from giving unapproved comments aboutthe China-Pakistan Economic Corridor (CPEC) after a remark by a seniorofficial at the Planning Commission created a sensation in Beijing.
This decision comes amidst a comment issued in a report published by the *WallStreet Journal *in which a statement attributed to the PlanningCommission’s chief economist was issued which said China should rescuePakistan with an interest-free loan, otherwise what is this friendship for?reported *Express Tribune.*
Consequently, the Foreign Office terming the remarks as ‘highlyirresponsible’ directed the Ministry of Planning to formulate a systemwhich would stop all government functionaries from providing unapprovedcomments.
The Foreign Office in an official communique to the planning ministryindicated the delicate nature of the problem and importance of Pakistan’srelationship with China and declared setting up such a mechanism wasnecessary.
Pakistan is facing a mounting economic crisis, highlighted by theburgeoning trade and current account deficits, depleting foreign exchangereserves which received a boost after China sanctioned a $2 billion lastweek to ease the pressure on that front.
Also, there is a high probability Pakistan could be seeking an IMF bailoutafter the incoming government is sworn in.
But the Washington-based lender’s financial assistance could be seen bymany quarters as coming at the expense of CPEC’s future expansion.
The *Wall Street Journal *in its article published on July 22nd saidPakistan was moving towards a debt crisis largely due to an increase inloans from China and imports for projects like Orange Line Train in Lahore.
Also, the Foreign Office has pressed for action to be taken againstgovernment functionaries who still give unapproved statements because suchcomments could impact Pak-China ties.