Pakistan engaged with China in prompting peace: FO

ISLAMABAD: Pakistan on Friday said it was engaged with China in prompting peace, development and stability in the region, and believed that regional economic connectivity would deliver a critical stimulus for creating broad-based growth.

According to a statement issued by  Foreign Office, Pakistan and China were engaged in prompting peace, development and stability in the region based on the principles of mutual respect, mutual benefit, win-win cooperation and shared development.

The statement further said, “Our ties are based on deep mutual trust and understanding,” it stressed, adding economic development and long-term prosperity of the people was the government’s top priority.

The Foreign Office described CPEC, a flagship project of BRI, as a “transformational project contributing positively and transparently to Pakistan’s national development.”

“Pakistan believes that regional economic connectivity will give a critical stimulus for creating broad-based growth across the region,” it added.

It urged that Pakistan had reiterated many times that its total public debt relating to CPEC projects was less than even 10 percent of the total debt.

Furthermore, the public debt obtained from China had a maturity period of 20-years and the interest was 2.34 percent. If grants were included, the interest value slides down to about two percent, the statement read.

The FO said the claims made by some of the commentators and public officials on Pakistan’s debt obligations relating to CPEC were contrary to facts.

It stressed that CPEC, a long-term project, had assisted address development gaps in energy, infrastructure, industrialization, and job creation.

“Pakistan and China have numerous mechanisms to discuss matters of mutual interest. Both countries are regularly in touch to resolve those issues bilaterally,” the statement concluded.