The Federal government has opened discussions with China regarding the upcoming repayment of a $3 billion loan under the China-Pakistan Economic Corridor (CPEC), Special Assistant to The Prime Minister (SAPM) on CPEC, Khalid Mansoor has revealed.
Speaking to the media, the SAPM termed the matter ‘highly sensitive’ as Pakistan has taken it up with China in a bid to find a win-win situation for both countries.
He added that Pakistan must repay the $3 billion loan under the CPEC because the Chinese companies, whose projects have already been completed, are due to declare dividends.
China has invested $25 billion in Pakistan under CPEC so far. Projects worth $12 billion are in the final stages and will be completed within a year while CPEC’s phase-I is also at the final stage and CPEC is entering into phase-II.
The SAPM said that the Chinese government has called the 10th meeting of CPEC’s Joint Cooperation Committee (JCC) on 23 and 24 September. The JCC meeting was originally scheduled in July this year but was called off after the Dasu attack on 14 July in which 13 people, including 9 Chinese nationals, died.
Security of CPEC projects and Chinese nationals working on them is the responsibility of the Pakistan Army which constituted two divisions following the July attack to beef up their security.
Besides, the SPAM disclosed that 8 Chinese companies have invested $845 million in Allama Iqbal Industrial Zone, Faisalabad.
During the last three years, these Chinese companies have invested in agriculture, mobile phone manufacturing, prefabricated homes, two-wheel, and three-wheel electric vehicles, LED lights, ceramics tiles, liquid, and solid detergents.
Source: Pro Pakistani