Planning Ministry rejects U.S. diplomat's remarks about CPEC
The spokesperson of the ministry commented on the U.S. diplomat's views.
(Web Desk) – The planning ministry has affirmed that the speech by a U.S. diplomat on the China-Pakistan Economic Corridor (CPEC) Project was based on wrong analysis and incorrect assessment of the facts.
Commenting on her views, the spokesperson of the ministry said major share of CPEC investments were allocated to energy projects and all the energy projects were in IPP mode and thus bearing no financial liabilities on the Government of Pakistan.
He said for infrastructure projects, the amount was USD 5.8 billion and that too concessionary loan at 2.34 percent with tenure of 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.
Regarding employment opportunities in the infrastructure development phase, he said primary data collected from 12 projects under CPEC revealed that of 81,121 total workforces in these projects, more than 90 percent are Pakistani workers.
