A spokesperson for China’s Ministry of Foreign Affairs, Zhao Lijian, saidthat the power projects under the China-Pakistan Economic Corridor (CPEC)have not incurred a debt burden on Pakistan because they were investmentprojects.
During his regular briefing, he affirmed, “I can say this with goodauthority that these energy projects are a commercial investment whereChinese companies invested in Pakistan. They do not incur debt burdens onthe Pakistani side because they are investment projects”.——————————
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He said this in response to a question about Pakistan’s request to China toreschedule its debts to the tune of around $22 billion for the powerprojects that China has funded.
He said, “We have responded to similar questions on many occasions. I don’tknow how you got your specific figure”.
Zhao Lijian said that the CPEC has numerous power and energy cooperationprojects. He added that he has been worked in Pakistan for many years andthat he is very familiar with the energy projects and the CPEC.
“So, these loans are from Chinese companies. The Pakistani governmentdoesn’t need to pay back anything,” he explained.
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He also declared that the construction and operation of the energy projectsunder the CPEC are progressing very well, and that they were providingsteady and affordable power sources in addition to contributing to the taxrevenues while producing tangible, economic, and social benefits.——————————
“We have every confidence that the China-Pakistan Energy Cooperation willcontinue to make greater contributions to Pakistan’s national developmentand livelihood improvement,” he stated.
Official data reveals that 22 energy and power projects will be constructedunder the CPEC, while nine of them have been completed and are boostingPakistan’s energy needs.
These projects have contributed 5340 MW of electricity to the main grid andare helping to meet the country’s vital needs for industry, agriculture,and domestic consumers.
Another eight energy projects are near completion and will pump anadditional 4470 MW of electricity to the national grid, while five moreprojects are in the planning and implementation phase.