ISLAMABAD – Pakistan has rejected Western media’s recent reporting onChina-Pakistan Economic Corridor (CPEC), terming it incorrect informationbased on distorted facts and one-sided opinion.
In a statement, the Planning, Development and Reform Ministry said thatPakistan has opted for Chinese investment under CPEC due to the favorablefinancing arrangements.
It added that China stepped forward to support Pakistan’s development atthe time when foreign investment had dried up, and economic activities werebeing crippled by energy shortages and infrastructure gaps, media reportedon Friday.
The ministry categorically denied that CPEC is imposing any immediateburden with respect to loans repayment and energy sector outflows, addingthat the corridor’s outflows would start from the year 2021 and spread over20 to 25 years with a maximum in the year of 2024 and 2025.
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“The CPEC has brought investment opportunities to Pakistan, and theresultant benefits of these investments to the country’s economy would faroutweigh these outflows,” the ministry said. – APP/Xinhua
