MULTAN: Foreign Minister Shah Mehmood Qureshi has stated that China-Pakistan Economic Corridor (CPEC) is inevitable for the development of country and will be further expanded.
While speaking to media on Sunday, the foreign minister said that CPEC is a game changer for the region and there is no restriction for any country including USA to invest in economic zones being established under the mega-project.
The foreign minister said that United States’ stance on CPEC would have no impact on the project, and that Pakistan does not agree with the views expressed by US diplomat Alice Wells.
Ms Wells, the acting assistant secretary for South Asia at the US State Department, warned that CPEC would further add to Pakistan’s debt burden. She said the CPEC would take a toll on Pakistan’s economy at the time of repayments and dividend in the coming years.
“Pakistan does not agree with that view. We have rejected that view. We do not think that the burden of CPEC will increase our debt burden,” said Qureshi.
“To say that CPEC is increasing our debt servicing is incorrect,” he said, adding that the second phase of the development project has been launched.
READ MORE: Chinese Ambassador rejects US claims against CPEC
Meanwhile, Special Assistant to the PM on Information and Broadcasting Firdous Ashiq Awan also said CPEC is the government’s first priority, and that Pakistan does not agree with US concerns regarding the project.
In a series of tweets, she said CPEC would open new paths of economic development and prosperity for not only Pakistan and China but the whole region.
“Do not concur with US concerns on the project,” Awan said. “China is our close friend and has stood by us during every trying time.”
Awan added that the economic zones established under CPEC will generate job opportunities for people. She said the commercial loans taken from China will witness remarkable reduction in the months and years
READ MORE: Asad Umar dismisses US concerns regarding CPEC-related loans
Yesterday, Minister for Planning Asad Umar also dismisses US concerns saying Pakistan will not be caught up in a fight between two other countries, but will not back out of its friendship with China.
He said the said the assertion by Alice Wells regarding CPEC-related loans is not based on facts. He said the bilateral commercial debt from China would start declining in two to three years.
The minister acknowledged that foreign debt of the country has reached to a level that is impeding the growth of economy. He said Chinese institutions funded Pakistan at a difficult economic time due to deep friendship bonds between the two countries.
On Friday, Chinese Ambassador to Pakistan Yao Jing rejected Alice Wells’ statement regarding CPEC saying that Beijing will never force Islamabad to make timely payments of its debt unlike the International Monetary Fund (IMF).
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