Home Pakistan Pakistan Rejects Claims Regarding CPEC Debt

Pakistan Rejects Claims Regarding CPEC Debt

The State Department said Friday that statements by some commentators and officials about Pakistan’s debt in relation to the China-Pakistan Economic Corridor (CPEC) contradicted the facts.

Previously, the United States had asked China to dismiss or renegotiate Pakistan’s so-called “unsustainable and unfair” debt, as it again raised serious questions about the lack of transparency of the China-Pakistan Economic Corridor (CPEC).

Outgoing US Secretary of State for South and Central Asia, Alice Wells, said during a farewell news briefing about a video link attended by South and Central Asia journalists: “In a time of crisis like Covid-19, this is really up to China to take steps to reduce the burden that this predatory, unsustainable and unfair lending will mean for Pakistan. We hope that China will either wipe off debt or renegotiate these loans and create a fair and transparent deal for the Pakistani people. “

The Federal Foreign Office said in a statement that CPEC was a flagship project of the Belt and Road Initiative (BRI), adding that it was a transformation project that contributed positively and transparently to Pakistan’s national development.

The statement added that “economic development and people’s long-term prosperity are top priorities for our government,” the statement said. “Pakistan believes regional economic connectivity will be a key incentive for broad-based growth across the region.”

“We have repeated several times that our total debt related to CPEC projects is less than 10% of total debt. In addition, China’s national debt has a term of 20 years and interest is 2.34%, ”the statement said.

“If subsidies are included, the interest value drops to around 2%. The claims of some commentators and officials on Pakistan’s debt obligations related to CPEC contradict the facts. “

The State Department reaffirmed that CPEC is a long-term project that has helped close the development gaps in energy, infrastructure, industrialization and job creation.

The statement added: “Pakistan and China have several mechanisms to discuss issues of mutual interest. Both countries are in regular contact to address these problems bilaterally. “

The statement emphasized that Pakistan and China are “strategic all-weather cooperation partners” that promote peace, development and stability in the region based on the principles of mutual respect, mutual benefit, win-win cooperation and common development promote. “Our relationships are based on deep mutual trust and understanding,” the statement said.

This was not the first time that the United States, and Wells in particular, publicly questioned the viability of CPEC. Wells in the past expressed similar views and declared the CPEC harmful to the Pakistani economy.

China has always rejected US demands and instead asked Washington to adjust its economic aid to Pakistan.

Alice Wells, who is retiring this week, said the US will support CPEC and other development projects as long as they meet international, environmental, and labor standards.

She urged: “I have my concerns and the concerns of the US government regarding the CPEC, the lack of transparency of the project and the unfair profit rates that Chinese government organizations are guaranteed due to the resulting distortions in the Pakistani economy, including that massive trade imbalance that Pakistan now has with China. “

Pakistan has sought debt relief from the G20 to offset the negative effects of the corona virus on its economy. China is part of the G20 and is likely to defer the payment of around $ 300 million in debt that Pakistan should repay this year.

Ambassador Wells’ statement, however, appears to indicate that the United States is calling for a more extensive review of the CPEC by China. It is almost certain that Islamabad and Beijing would reject Washington’s recent concerns about the CPEC.

پاکستان سیپیک قرض کے حوالے سے دعوں کو مسترد کردیا

وزارت خارجہ نے جمعہ کے روز کہا کہ چین پاکستان اقتصادی راہداری (سی پی ای سی) سے متعلق پاکستان کے قرضوں کے بارے میں کچھ مبصرین اور عہدیداروں کے دعوے حقائق کے منافی ہیں۔

اس سے قبل ، امریکہ نے چین پر زور دیا تھا کہ وہ پاکستان کے “غیر مستحکم اور غیر منصفانہ” قرض کو ختم کرنے یا اس سے مذاکرات کرے ، کیونکہ اس نے چین پاکستان اقتصادی راہداری (سی پی ای سی) میں شفافیت کی عدم دستیابی پر ایک بار پھر سنگین سوالات اٹھائے ہیں۔

جنوبی اور وسطی ایشیا کے سبکدوش ہونے والے امریکی معاون وزیر خارجہ ، ایلس ویلز نے جنوبی اور وسطی ایشیاء کے صحافیوں کے ذریعہ شریک ویڈیو لنک کے ذریعے الوداعی نیوز بریفنگ سے خطاب کرتے ہوئے کہا کہ “کویوڈ ۔19 جیسے بحران کے وقت ، واقعی اس کی ذمہ داری ہے چین اس بوجھ کو ختم کرنے کے لئے اقدامات کرے گا جو اس شکاری ، غیر مستحکم اور غیر منصفانہ قرضے سے پاکستان کو پہنچنے والا ہے۔ ہم امید کرتے ہیں کہ چین یا تو قرضوں کو ختم کرنے یا ان قرضوں کی تجدید اور پاکستانی عوام کے لئے ایک منصفانہ اور شفاف معاہدہ کرنے میں شامل ہوگا۔

دفتر خارجہ نے ایک بیان میں کہا ہے کہ سی پی ای سی بیلٹ اینڈ روڈ انیشی ایٹو (بی آر آئی) کا پرچم بردار پروجیکٹ ہے ، انہوں نے مزید کہا کہ یہ ایک تبدیلی کا منصوبہ ہے جو پاکستان کی قومی ترقی میں مثبت اور شفاف طور پر حصہ ڈال رہا ہے۔

بیان میں مزید کہا گیا کہ “معاشی ترقی اور لوگوں کی طویل المدتی خوشحالی ہماری حکومت کی اولین ترجیح ہے ، بیان کو پڑھیں۔ “پاکستان کو یقین ہے کہ علاقائی معاشی رابطے پورے خطے میں وسیع پیمانے پر ترقی کے لیے ایک اہم محرک فراہم کرے گا۔”

“ہم نے متعدد بار اعادہ کیا ہے کہ سی پی ای سی پروجیکٹس سے متعلق ہمارا کل عوامی قرض کل قرض کے 10 فیصد سے بھی کم ہے۔ مزید یہ کہ چین سے حاصل کردہ عوامی قرض کی پختگی 20 سال کی ہے اور سود 2.34٪ ہے۔

اگر گرانٹس کو شامل کیا جاتا ہے تو ، سود کی قیمت کم ہوکر تقریبا 2٪ رہ جاتی ہے۔ سی پی ای سی سے متعلق پاکستان کی قرضوں کی ذمہ داریوں کے بارے میں کچھ مبصرین اور سرکاری عہدیداروں کے دعوے حقائق کے منافی ہیں۔

Moazzam Sultan
He is very good author and love to cover new stories from every field.

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