CPEC didn’t cause Pakistan’s debt burden: China

October 9, 2018

FILE PHOTO: A container is loaded on to the first Chinese container ship to depart after the inauguration of the China Pakistan Economic Corridor port in Gwadar, Pakistan November 13, 2016. REUTERS

The Working Group of the IMF to Pakistan has made it clear that Pakistan’s debt burden was not caused by CPEC or related projects, Chinese official said on Tuesday.

“On the contrary, the IMF Working Group has 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,” Chinese foreign ministry’s spokesperson Lu Kang said.

The remarks came a day after Prime Minister Imran Khan’s government decided to approach the IMF for a possible bailout package.

Related story: PM Khan gives green signal to seek IMF bailout package

Pakistan’s new government recently expressed its full support for the CPEC projects, which it believed was in line with the long-term development of the country, the Chinese official said.

“I think it is still necessary to see that the construction of the China-Pakistan Economic Corridor is fundamentally conducive to regional connectivity and lasting prosperity,” he said.

Related story: IMF says Pakistan has not asked it for a bailout so far

“From the very beginning, the Chinese and Pakistani governments have built on the principle of sharing, building and sharing,” he added.

He said that all the issues, including the project selection and related financing arrangements, were decided by the Chinese and Pakistani governments after consultation.

 
 

2 Comments

  1. Qamar Hussain   October 9, 2018 7:36 pm/ Reply

    The only burden Pakistan have ever had is the costly lifestyles of the corrupt leaders of past! There is no other reason for an IMF strategy otherwise, why would we even entertain such a ludicrous idea.

    The problem that we all now have is that, in terms of loan repayments, we do not have the luxury of time to repay them but, we do have “Luxury Properties” purchased on the most expensive streets in #England paid for out of the PUBLIC PURSE!

  2. Sameer   October 10, 2018 3:41 pm/ Reply

    I couldnt agree more with Qamar. We need to urgently reclaim what has been bought with Pakistan’s money, Only then will imran have won our trust. Otherwise people will never support the austerity measures Imran is imposing. Such sacrifices from the people require examplary accountability and punishment of the corrupt.

Tell us what you think:

Your email address will not be published.