ISLAMABAD – Rejecting the US statement on China-Pakistan Economic Corridor(CPEC) project, Pakistan has said that the speech by a US diplomat on CPECis based on wrong analysis and incorrect assessment of the facts.
This statement was given by the planning ministry. Commenting on her views,the ministry’s spokesperson said major share of CPEC investments areallocated to energy projects and all the energy projects are in IPP modeand thus bearing no financial liabilities on the Government of Pakistan.
He said for infrastructure projects, the amount is 5.8 billion US billiondollars and that too concessionary loan at 2.34 percent with tenure of 25years starting from 2021.
He also said the first phase of CPEC focused on laying the foundations ofdevelopment through creation of physical infrastructure and overcoming theenergy deficit, vital for the growth of every economy.
Regarding employment opportunities in the infrastructure development phase,he said primary data collected from 12 projects under CPEC revealed that of81,121 total workforces in these projects, more than 90 percent arePakistani workers.
On Saturday, Chinese Ambassador to Pakistan Yao Jing rejected US ActingAssistant Secretary of State for South Asia Alice Wells’ statementregarding CPEC.
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Addressing the 5th CPEC Media Forum, the Chinese ambassador said Pak-Chinarelations are based on win-win cooperation and are mutually beneficial. Heexpressed astonishment over Alice Wells’ statement of higher tariff inpower plants, established under CPEC.
He questioned that when in 2013, the Chinese companies were establishingpower plants in Pakistan, where was the US? Why it did not invest inPakistan’s power sector despite knowing that Pakistan was in dire need ofelectricity.
On Thursday, criticising the CPEC, Alice Wellslink saidit is not an aid to Pakistan. She alleged that the multi-billion dollarproject is certain to take a toll on Pakistan’s economy at the time of therepayment of the debt and dividend in the coming years.
