The West has blamed the CPEC project for the economic crisis in Pakistan, but China has blatantly rejected the allegations stating that the ongoing financial crisis in Pakistan has nothing to do with the China-Pakistan Economic Corridor (CPEC).
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Prof Sun Hongqi, who is the adviser to the President Xi Jinping on Pakistan Affairs, was addressing a two-day conference on China-Pakistan Economic Corridor (CPEC) where he communicated growing anxiety over anti-CPEC campaigns in Pakistan. He said that the CPEC project should not be held responsible for the economic crisis in Pakistan.
Hongqi added, “Loan repayments for the CPEC projects will commence from 2023-24 when the economic growth rate of Pakistan will be much higher than the present”.
With this logic, he stressed on a need to control the wrong hypothesis by so-called experts in Pakistan who claim that CPEC initiative will only benefit China and not Pakistan.
“How will China benefit from energy projects given preference in the first phase of CPEC as per desire of Pakistan other than helping our all-weather friend to overcome the electricity deficiency badly hitting its economy,”
Former Chinese ambassador to Pakistan announced that various projects of the CPEC were being executed by the Chinese organizations, however, Pakistani labourers and junior managers will be working on the CPEC project.