Ahsan Iqbal clarifies loan from China under CPEC is $5.8 billion; contradicts Asad Umar's figure

Earlier, Asad Umar had stated that the interest rate on "$18 billion loan from China was only 2pc."

ISLAMABAD (Dunya News) – Pakistan Muslim League-Nawaz (PML-N) senior politician Ahsan Iqbal on Sunday revealed that the total loan volume granted by China for the China-Pakistan Economic Corridor (CPEC) was USD 5.8 billion and not USD 18 billion.

The veteran politician took to his official Twitter handle to correct the figures mentioned by newly appointed Minister for Planning Asad Umar, and pointed out that the amount “[is] payable in 20-25 years with the average markup of 2%.”

He further claimed that the terms under which the loan has been granted could not be called as “loan” but “a special gift for iron brother Pakistan from China”.

“All energy projects are in IPP mode,” he said.

Loans under #CPEC are not $18b, rather only $5.8b, payable in 20-25 yrs with avg mark up 2%. These terms can’t be called loan it is a special gift for iron brother Pakistan from China. All energy projects are in IPP mode. @zlj517 @CPEC_Official https://t.co/yPAklBFP8E

- Ahsan Iqbal (@betterpakistan) November 24, 2019

Earlier, Asad Umar had stated that the interest rate on the “$18 billion loan from China was only 2 percent.”