ISLAMABAD (Daily Pakistan Online): Federal Minister for Planning Asad Umar gave a media briefing on China-Pakistan Economic Corridor (C-PAC), saying that misinformation was being spread about a US think tank. Uncertainty arises.
During a media briefing in Islamabad, Federal Minister Asad Omar said that false rumors were being spread that secret loans were taken for C-Pack and an American think tank said that Pakistan had taken very expensive loans from China for C-Pack. Sinks Pakistan’s fleet, all these rumors are baseless, first of all let me make it clear about secret loans that secret loans are not possible, ask us questions in the National Assembly Committee and Senate Committee on C-Pack We have to answer for it. We have thought for ourselves that what you have presented as secret loans, it is understood that the guarantee given for a project may be considered as secret loans. Let me say that this is the guarantee given to all the investors who come from all over the world including USA and China for other projects including IPPs. This is not a secret, the conditions are also there. In addition, Napier has details of power project loans.
Talking about the rumors of expensive loans from China, the Federal Minister said that the American think tank says that for expensive loans from China, C-Pak drowned Pakistan’s fleet, so let me tell you that there are two types of loans, one is loans. Which are for some private sector like power projects etc. and others are those which are used by the government itself, the share of China on the government of Pakistan is only ten percent of the loans taken from domestic banks and abroad, we It has borrowed only 10 percent from China, while the rest has borrowed from domestic banks and other sources, including the IMF. If we talk about foreign loans, 26% of the total share has been taken from China. In other words, it is being said that the one who borrowed 26% from China is destroying Pakistan while the one who borrowed 76% from the rest of the world is fine. This is ridiculous.
The Federal Minister said that I would also clarify here that no policy will ever be formulated exclusively for China or Chinese investors. The Government of Pakistan has invited investors from all over the world to invest in Pakistan as per its terms. And Chinese investors came and invested in these projects according to our terms, the rest of the world would come, the government of Pakistan never stopped anyone.
At the end of the briefing, Asad Umar said that it is not in the service of Pakistan to follow the narrative.