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  • Oct, 18th, 24

XINHUA-PAKISTAN SERVICE

China denies reports regarding debt burden on PakistanBreaking

October 09, 2018

BEIJING, Oct 09 (INP): China on Tuesday denied the media ‘reports that the debt burden on Pakistan was due to CPEC. A spokesperson of the Chinese Foreign Ministry Lu Kang quoted the recent statement of IMF, which had clearly stated that Pakistan’s debt burden was not caused by cooperation projects related to the construction of the China-Pakistan Economic Corridor (CPEC). Responding to CPEC’s related questions at the weekly news briefing, he said recently, around the construction of the CPEC, they have noticed that some media have various comments and quoted different news. In fact, he said “If you can fully understand the attitude of the new Pakistani government on the construction of the China-Pakistan Economic Corridor, it could be noted that the Pakistani government led by Prime Minister Imran Khan has expressed its support for the construction of the China-Pakistan Economic Corridor. It is believed that the corridor construction is in line with the long-term development of Pakistan. The Working Group of the IMF to Pakistan also made it clear that Pakistan’s debt burden was not caused by cooperation projects related to the construction of the China-Pakistan Economic Corridor. On the contrary, the IMF Working Group clearly pointed out that the construction of the China-Pakistan Economic Corridor will help promote the development of the Pakistani side in the long run.” Lu Kang further said, it is still necessary to see that the construction of the China-Pakistan Economic Corridor is fundamentally conducive to regional connectivity and lasting prosperity. This is of course in line with the national interests of the region including Pakistan, he added. He hoped that everyone could notice that the China-Pakistan Economic Corridor is an important project for the construction of the “Belt and Road”. From the very beginning, the Chinese and Pakistani governments have built it on the principle of sharing, building and sharing. All the relevant issues, including project selection and related financing arrangements, are decided by the Chinese and Pakistani governments under equal consultation, he added. INP/J/SB