ISLAMABAD – Pakistan Foreign Office strongly react over the media reportsof CPEC debt obligations.
Pakistan has said that China-Pakistan Economic Corridor (CPEC) is atransformational project contributing positively and transparently to thecountry’s national development.
In a statement on Friday, Foreign Office Spokesperson Aisha Farooquiclarified that our total public debt relating to CPEC projects is less thaneven 10% of the total debt. Moreover, the public debt obtained from Chinahas a maturity period of 20 years and the interest is 2.34 percent.
“If grants are included, the interest value slides down to about twopercent,” she added. She said the claims made by some of the commentatorsand public officials on Pakistan’s debt obligations relating to CPEC arecontrary to facts.
She said the CPEC is a flagship project of Belt and Road Initiative. Shesaid Pakistan believes that regional economic connectivity will provide acritical stimulus for creating broad-based growth across the region.
She reiterated that CPEC, a long-term project, has helped addressdevelopment gaps in energy, infrastructure, industrialisation, and jobcreation.
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The spokesperson said Pakistan and China are all weather strategiccooperative partners.
Both the countries are engaged in promoting peace, development andstability in the region based on the principles of mutual respect, mutualbenefit, win-win cooperation and shared development. “Our ties are based ondeep mutual trust and understanding,” she held.
Aisha Farooqui said Pakistan and China have several mechanisms to discussmatters of mutual interest. She said the two countries are regularly intouch to address those issues bilaterally.
