cpecnews news صفحۂ اول

CPEC has delivered benefits to both China and Pakistan: Asad Umar

  • May 18, 2019
CPEC has delivered benefits to both China and Pakistan: Asad Umar
Image caption CPEC has delivered benefits to both China and Pakistan: Asad Umar

ISLAMABAD: The China Pakistan Economic Corridor (CPEC) has delivered benefits to both China and Pakistan, a Pakistani official said, questioning the double standards of certain countries on investment and rebutting the "debt trap" allegations.

The unfounded charges hurled at China's investment in foreign countries are designed to create ill feelings among people by attempting to cast aspersions on motives of Chinese investment, said Asad Umar, chairman of Pakistan's National Assembly Standing Committee on Finance.

"It is blatant hypocrisy, designed simply to malign China," he said. "China's investment in other countries is a two-way thing. It is good for China and it is good for other countries."

The former finance minister defended the CPEC, a major project within the framework of the China-proposed Belt and Road Initiative (BRI), in his interview with Xinhua.

Umar said that early projects of the CPEC have been completed, but there are still projects under construction such as port infrastructure, power plants and road networks.

The CPEC with more potential to be tapped will help boost economic development in Pakistan in the future, he said.

"China is assisting Pakistan in building basic infrastructure," Umar said. "To take full advantage of the infrastructure, industrialization and business cooperation in the private sector are needed at the next step."

When the International Monetary Fund (IMF) team visited Pakistan, the Pakistani government shared the required details of the Chinese loan and the IMF team found the Chinese loan "so simple and clear," Umar said.

Umar also cited statistics and facts to refute the much-hyped "debt trap" allegations on the CPEC and BRI, saying that only 10 percent of Pakistan's total public debt is from China, while the remaining are all from other countries and organizations, but no one raises doubt about the remaining 90 percent of the loans or calls it a "debt trap."

"Why is investment from any other part of the world a good thing, but from China, it turns evil?" Umar asked.

Archives

China assists Pakistan in locust war
Huawei donates medical goods to help Pakistan combat COVID-19
BRI cooperation is durable, an ideal model for development amid COVID-19
CPEC is set to boost Pakistan-China industrial cooperation: Ambassador Yao Jing
Chairman BoI pledges support to SEZ investors
CPEC is a transformational project, contributing to the socio-economic development of Pakistan: MOFA
State-Owned Enterprises (SOEs) in Xinjiang donates anti epidemic material to Pakistan
Chinese military medical team visits NCOC, shares expertise to tackle COVID-19
Thar-block II is making progress under CPEC; workers enjoy good health and spirit
Xi Jinping replies to letter from Pakistani students studying in Beijing
Pakistani students are overwhelmed to receive President Xi reply to their letter
Chinese media house set to host a webinar highlighting joint efforts on locust control in Pakistan
China sends more medical supplies to Pakistan via two special flights from Shanghai and Chengdu
China’s Hubei province sends medical experts and supplies to Pakistan
China-Pakistan discuss an action plan to expedite ML-1 railway project under CPEC
China sends more medical supplies to Pakistan to fight COVID-19
Environment-friendly infrastructure development under BRI is vital to the post COVID world order: Adil Najam
CPEC enjoys priority, pivotal for socio-economic development of Pakistan: Gen (retd) Asim Saleem Bajwa
Lahore Orange Line Metro Train project enters final phase
Chinese Consulate in Karachi donates medical supplies and relief assistance to combat the COVID-19
China-Pakistan to deepen Military Cooperation amid COVID-19
CPEC is a savior of Pakistan’s economy amid the pandemic outbreak
No case of Coronavirus is reported at CPEC site
CPEC western route is set to complete next year
Suki Kinari Hydropower Project under CPEC is making progress despite COVID-19
China continues to provide medical assistance and relief packages to help Pakistan fight COVID-19
69% of work on Islamabad-DI Khan Motorway under CPEC is complete
China ensures steadfast support to Pakistan to achieve sustainable development goals
Port Qasim Coal-fired power plant continues safe power generation amid the outbreak of COVID-19
Pakistan is committed to take CPEC to new heights