TIL Desk/World/Beijing/ China on Tuesday sought to defend the CPEC after Pakistan decided to slash Chinese investments and review the multi-billion dollar project. The new government in Pakistan under Prime Minister Imran Khan is reportedly concerned over the heavy Chinese loans under the China-Pakistan Economic Corridor (CPEC) which, it fears, could push the South Asian country into a debt trap.
Last week, Railway Minister Sheikh Rashid announced a cut in the cost of a railway project under the CPEC from $8.2 billion to $6.2 billion, saying Pakistan cannot afford huge loans. Besides, Imran Khan had said that the CPEC was under review.
Responding to the developments, the Chinese Foreign Ministry said the media was focusing on only one aspect of the story. Ministry spokesperson Lu Kang said China and Pakistan were equal partners in the CPEC and the terms and rule were fair to both the parties.
“You have only noted some aspects of the report. Recently, on the advancement of the CPEC, we have noted that there are different comments on the reports from the media,” Lu said at a press briefing. “…the new Pakistani Prime Minister has made it clear that he will support the advancement of the CPEC and the CPEC serves the economic and social development.
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