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US remarks about CPEC rejected by Pak Planning Ministry

ISLAMABAD: Planning Ministry Spokesman, rejecting the US remarks about CPEC, stated that investments were allocated to energy projects that were in IPP mode and thus bearing no financial liabilities on the Govt of Pakistan.

Planning Ministry held that the statement by US diplomat on CPEC was based on wrong analysis and incorrect assessment of the facts. He informed that for infrastructure projects, the amount was US $ 5.8 billion and that too was concessionary loan at 2.34 percent (25 years starting from 2021).

The spokesperson said the first phase of CPEC focused on laying the foundations of development through creation of physical infrastructure and overcoming the energy deficit, vital for the growth of every economy.

Focusing on the generation of jobs the Spokesman held that primary data collected from 12 projects under CPEC showed that 81,121 people were employed there. He further told that 90 percent people working for CPEC was Pakistanis. 

According to Spokesman export oriented and import substitution industries not only from China rather businesses and capital from all over the world would be attracted through special incentive investment packages which would be announced soon.

Planning Ministry Spokesman stated that by removing the energy and infrastructure bottlenecks in its first phase and now gearing up to kick start industrialization through special economic zones, social sector development through Chinese grants.

Spokesman further held that improvement in service delivery was also ensuring in various sectors including tourism, CPEC would  prove to be a platform for future development of Pakistan. 

A relevant piece published earlier: 

M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.