ISLAMABAD – Ministry of Planning and Development has rejected a newsreport repayment of China-Pakistan Economic Corridor project debt andliabilities.
A statement issued by Ministry said on Wednesday that the news report isbased on incorrect information and biased analysis.
The Ministry clarified that CPEC is a flagship project of Belt and RoadInitiative and to date, 22 projects are at various stages of implementationand government financial liability is only to the tune of 6 billion USdollars comprising of low interest loans and grants in infrastructureprojects spread over 20 to 25 years payback period.
The official said giving the impression of 40 Billion dollars as liabilityon Pakistan is false, baseless and distorted.
Planning Ministry also said that the power projects are being executed byIndependent Power Producers and finances are mainly taken by the privatecompanies against their own balance sheets.
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Planning Ministry also said that CPEC is not imposing any burden withrespect to loans repayment while outflows would start from the year 2021and spread over 20 to 25 years.
Moreover, CPEC projects will continue to increase in the form of privateinvestment in Special Economic Zones which were prioritized in the recentJCC meeting.
