BEIJING – China has refuted a media report which has claimed that Pakistanwould repay forty billion US dollars debt to China under the China-PakistanEconomic Corridor project.
According to a statement issued by the Chinese embassy in Islamabad, thefigure of forty billion US dollars is wrong and misleading.
The embassy said the Chinese government provided concessional loans of5.874 billion dollars to Pakistan Government’s major transportationinfrastructure projects, with a composite interest rate of around 2% inrepayment period of 20-25 years.
The embassy further said all the CPEC energy projects are investment innature and the companies are responsible for their own profits and lossesand repayment of loans.
Read Top Stories
The statement said the Chinese government provided interest-free loans forExpressway East Bay in Gwadar and also provided grant for some livelihoodprojects.
In nutshell, Pakistan will repay only 6.017 billion dollars along withinterest to China.
