Skip to main content

CPEC projects financed through composite financing package: official

National14 HOURS AGO BY MIAN ABRAR

–P&D official says projects involve long-term govt-to-govt concessional, preferential loans

–Informs that repayments on loans will not commence in immediate future

ISLAMABAD: Pakistan on Tuesday reiterated its commitment to implement all projects linked to the China-Pakistan Economic Corridor (CPEC), stating that all state institutions supported the multi-billion dollar project which was a key to the future of country’s socio-economic development.

In the backdrop of negative media reports emerging in the international media, an official of Ministry of Planning & Development said that Pakistan had repeatedly stated that it was fully committed to CPEC that enjoyed complete consensus among all institutions and political forces in the country.

“It is not surprising that detractors of Pakistan-China cooperation are presenting a negative image of CPEC and the benefits that it brings to the people of Pakistan. Their negativity cannot weaken our resolve and commitment to CPEC,” said the official.

The official also said that Pakistan offered attractive investment opportunities and welcomed all countries to take advantage of this favourable environment and to invest in developmental projects in the country instead of leveling unfounded criticism against a country that had stood by Pakistan at all times.

“We have noted recent media reports questioning the viability of CPEC, claiming that it would create an unbearable debt burden for Pakistan. Such media reports are often one-sided, distorted facts and are based on irresponsible statements by individuals who either have no understanding of CPEC or are driven by ulterior motives,” said the official.

While constructive critiques and recommendations by experts and analysts were always welcomed, the official added, it was important that such critiques be informed by research based on factual information rather than mere partial opinions.

“It must be clarified that CPEC projects are financed through a composite financing package comprising long-term government-to-government concessional and preferential loans, as well as grants from the government of China. Repayments on these loans would not commence in the immediate future,” the official added.

The official was of the view that energy sector was a key priority area under CPEC’s early-harvest phase and responded to Pakistan’s immediate energy needs. “Chinese companies are investing in the energy sector in IPP mode and have raised funds from Chinese banks and investors. These do not constitute any debt obligation on the government of Pakistan.”

“It is because of the favourable financing arrangements that Pakistan opted for Chinese investment under CPEC. China stepped forward to support Pakistan’s development at a time when foreign investment had dried up, and economic activity was being crippled by energy shortages and infrastructure gaps”.

The official also said the CPEC had provided enormous opportunities for Pakistan to grow economically.

“It is an engine for economic growth and will increase Pakistan’s GDP up by two to three per cent. CPEC has also facilitated in overcoming crucial energy, transport infrastructure and supply chain bottlenecks,” the official added.

Under CPEC, the official said, development of Gwadar would ensure the strengthening of maritime sector particularly the coastal tourism and local fishery industry thereby benefitting the local communities.




https://www.pakistantoday.com.pk/2018/08/07/cpec-projects-financed-through-composite-financing-package-official/

Comments

Popular posts from this blog

Balochistan to establish first medical university

https://www.dawn.com/news/1366135

The Newspaper's Staff CorrespondentOctober 25, 2017QUETTA: The provincial cabinet on Tuesday approved the draft for establishing a medical university in Balochistan.Health minister Mir Rehmat Saleh Baloch made the announcement while speaking at a press conference after a cabinet meeting.“The cabinet has approved the draft of the medical university which would be presented in the current session of the Balochistan Assembly,” he said, adding with the assembly’s approval the Bolan Medical College would be converted into a medical university.Published in Dawn, October 25th, 2017

CPEC Jobs in Pakistan, salary details

JOBS...نوکریاں چائنہ کمپنی میںPlease help the deserving persons...Salary:Salary package in China–Pakistan Economic Corridor (CPEC) in these 300,000 jobs shall be on daily wages. The details of the daily wages are as follows;Welder: Rs. 1,700 dailyHeavy Duty Driver: Rs. 1,700 dailyMason: Rs. 1,500 dailyHelper: Rs. 850 dailyElectrician: Rs. 1,700 dailySurveyor: Rs. 2,500 dailySecurity Guard: Rs. 1,600 dailyBulldozer operator: Rs. 2,200 dailyConcrete mixer machine operator: Rs. 2,000 dailyRoller operator: Rs. 2,000 dailySteel fixer: Rs. 2,200 dailyIron Shuttering fixer: Rs. 1,800 dailyAccount clerk: Rs. 2,200 dailyCarpenter: Rs. 1,700 dailyLight duty driver: Rs. 1,700 dailyLabour: Rs. 900 dailyPara Engine mechanic: Rs. 1,700 dailyPipe fitter: Rs. 1,700 dailyStorekeeper: Rs. 1,700 dailyOffice boy: Rs. 1,200 dailyExcavator operator: Rs. 2,200 dailyShovel operator: Rs. 2,200 dailyComputer operator: Rs. 2,200 dailySecurity Supervisor: Rs. 2,200 dailyCook for Chinese food: Rs. 2,000 dailyCook…

China’s 'Digital Silk Road': Pitfalls Among High Hopes

https://thediplomat.com/2017/11/chinas-digital-silk-road-pitfalls-among-high-hopes/


Will information and communication technologies help China realize its Digital Silk Road?By Wenyuan WuNovember 03, 2017In his speech at the opening ceremony of China’s 19th Party Congress, President Xi Jinping depicted China as a model of scientific and harmonious development for developing nations. Xi’s China wants to engage the world through commerce but also through environmental protection and technological advancement. This includes Beijing’s efforts to fight climate change with information and communication technologies (ICTs) that it plans to export along its “One Belt One Road” initiative (OBOR). Xi may have ambitious plans, but could China be throwing up obstacles in its own way?In his speech, the Chinese president emphasized the need to modernize the country’s environmental protections. The Chinese state is taking an “ecological civilization” approach to development and diplomacy, with a natio…