Planning Ministry responds to US diplomat's remarks on CPEC
- By Web Desk -
- Nov 23, 2019
ISLAMABAD: The Planning Ministry on Saturday rejected a US diplomat’s statement on China Pakistan Economic Corridor (CPEC).
The ministry in a statement said energy projects that make up for a major share of CPEC investments have been undertaken under the IPP arrangement, which is why they put no financial liabilities on the government.
Besides, it said, 5.8 billion dollars worth of infrastructure projects have bankrolled via concessionary loans at 2.35 per cent with a tenure spanning 25 years starting from 2021. It said the first phase of CPEC focused on infrastructure development and overcoming the energy crisis, both equally vital to the growth of every economy.
Earlier today, Chinese Ambassador to Pakistan Yao Jing rejected US Acting Assistant Secretary of State for South Asia Alice Wells’ statement regarding China Pakistan Economic Corridor (CPEC).
“Pak-China relations are based on win-win cooperation and are mutually beneficial,” the Chinese envoy said while addressing the 5th CPEC Media Forum in Islamabad.
Mr. Yao expressed astonishment over Alice Wells’ statement of higher tariff in power plants, established under CPEC.
The Chinese ambassador questioned that when in 2013, the Chinese companies were establishing power plants in Pakistan, where was the US? Why it did not invest in Pakistan’s power sector despite knowing that Pakistan was in dire need of electricity.