ISLAMABAD – Planning Ministry has said that the speech by a US diplomat onChina Pakistan Economic Corridor Project is based on wrong analysis andincorrect assessment of the facts.
Commenting on her views, the Spokesperson of the Ministry said that majorshare of CPEC investments are allocated to energy projects and all theenergy projects are in IPP mode and thus bearing no financial liabilitieson 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 tenor of 25years starting from 2021.
The spokesperson said the first phase of CPEC focused on laying thefoundations of development through creation of physical infrastructure andovercoming the energy 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.
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He said export oriented and import substitution industries not only fromChina rather businesses and capital from all over the world would beattracted through special incentive investment packages which would beannounced soon.
He said by removing the energy and infrastructure bottlenecks in its firstphase and now gearing up to kick start industrialization through specialeconomic zones, social sector development through Chinese grants.
He said improvement service delivery is also ensuring in various sectorsincluding tourism, CPEC will prove to be a platform for Pakistan’s path todevelopment and symbol of shared growth for others to emulate.
