Foreign Minister Shah Mahmood Qureshi on Sunday reiterated that America’s stance on the China Pakistan Economic Corridor (CPEC) would have “no impact” on the project.
Speaking to reporters in Multan, Qureshi said that Pakistan does not agree with the views expressed by US diplomat Alice Wells.
He was referring to a recent statement by Wells, who is in charge of South Asia affairs at the US State Department, in which she had “warned” that CPEC would further add to Pakistan’s debt burden. She had said the multi-billion-dollar CPEC would take a toll on Pakistan’s economy at the time of repayments and dividend in the coming years.
“Pakistan does not agree with that view. We have rejected that view,” Qureshi said, adding: “We do not think that the burden of CPEC will increase our debt burden.” The foreign minister said that Pakistan’s total debt burden is $74 billion of which CPEC is $4.9bn.
“To say that CPEC is increasing our debt servicing is incorrect,” he said, adding that the second phase of the development project has been launched.
Meanwhile, Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan said CPEC is the (government’s) first priority, also saying that Pakistan does not agree with America’s concerns regarding the project.
