ISLAMABAD: Pakistan on Thursday rejected US diplomat Alice Wells’ claims that the China Pakistan Economic Corridor (CPEC) is financed solely through loans or non-concessional financing with sovereign guarantees.
During the weekly media briefing on Thursday, Foreign Office Spokesperson Aisha Farooqui sought to set the record straight about a growing impression that Pakistan's economy is under tremendous burden from the Chinese debt. "The CPEC debt amounts to $4.9 billion which is not even 10 percent of the country's total debt," she explained.
Farooqui said that the 7,000MW CPEC power projects worth $12.4 bn "have reached completion" and that the completion of all other CPEC projects are the government’s top priority.
Awami National Party chief Senator Aimal Wali Khan was first speaker to raise the matter
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