*BEIJING – China and Pakistan remain on the same page in regard to the Beltand Road Initiative mega-project and the China-Pakistan Economic Corridor(CPEC).*
In the last few days, top-level consultations have resulted in even bettersynergy between the two countries, dispelling any doubts about continuityin government policies, according to an article of Chinese media websitehere on Saturday.
Remaining as top priority no matter which political party comes to power,the CPEC is a bilateral contract respected by all successive governments.
In Islamabad on a three-day visit last week, Chinese Foreign Minister WangYi met Prime Minister Imran Khan, who expressed his absolute commitment topromoting China-Pakistan ties just as he did in his very firstpost-election victory speech.
Stating that the CPEC is an icon of bilateral economic cooperation, headded that Pakistan “stands ready to work with China” on developing it.
Meanwhile, reaffirming China’s all-weather strategic cooperativepartnership with Pakistan, Wang Yi addressed the latest issue troublingWestern media by saying:
“The CPEC has not inflicted a debt burden on Pakistan; rather, when theseprojects get completed and enter into operation, they will unleash hugeeconomic benefits…and these will create considerable returns to thePakistani economy.”
Highlighting the fact that Pakistan’s 47 per cent debt level had beenincurred due to previous loans from the International Monetary Fund (IMF)and the Asian Development Bank (ADB), Wang Yi reiterated that, not only isthe CPEC helping to create around 70,000 jobs in Pakistan, it’s alsopromoting overall national growth.
Instead of imposing an additional burden, CPEC projects have boostedPakistan’s economic growth by one or two percentage points every year anddeveloped the energy and infrastructure sectors from the very first phase.Out of the 22 projects carried out under the CPEC so far, only four involveconcessional loans, while the rest are either aid or direct Chineseinvestment.
Consequently, the CPEC cannot be blamed, as, focusing on sustainability, inthe long run, these projects can only bring excellent economic benefits.