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Coronovirus epidemic not to affect economic cooperation with Pakistan, says Chinese envoy

Brecorder.com Business Recorder , Pakistan

  • The Ambassador says the agreed tariff rate for CPEC projects were according to the market rate.
  • The rapid spread of a new coronavirus in China, the world's second largest economy, has dented the global economy.

The ongoing epidemic of novel coronavirus would not halt economic cooperation between China and Pakistan, said Chinese Ambassador to Pakistan, Yao Jing.

“We are thankful to the Pakistani government and people for showing solidarity in our difficult time which provide us strength and more confidence", he said while addressing a special Seminar titled “Six Years of Belt and Road Initiative (BRI) and China Pakistan Economic Corridor (CPEC)."

The envoy said that after six years successful implementation of CPEC project under the umbrella of Belt and Road Initiative (BRI), it is now established that CPEC and other corridors under BRI are projects of international cooperation, where 126 countries joined these projects.

“I am looking CPEC in the context of historic China and Pakistan relations, where CPEC provided new focus and new opportunities on economic front", said Yao adding that CPEC under more clear and consistent policies coupled with set direction will help Pakistan in the long term.

Responding to a question of high cost of electricity from power projects developed under CPEC, the Chinese envoy said that the agreed tariff were according to the market rate and it was now responsibility of the government to pass on those agreed rates to the consumers.

The rapid spread of a new coronavirus in China, the world's second largest economy, has dented the global economy with a number of corporations shutting down their businesses in China on temporary basis.

Meanwhile, China extended its Lunar New Year holiday as a measure to contain an outbreak that has now infected over 20,000 people and killed more than 400, and some firms are now extending factory closures.

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