Government to Pay Back a CPEC Debt of $3 billion to China
China initiated rollover negotiations for the $3 billion China-Pakistan Economic Corridor (CPEC) and agreed to convene a long-delayed CPEC strategic board meeting with Prime Minister Assistant Khalid Mansoor.
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The reported delay at the 10th meeting of the Joint Co-operation Committee (JCC) on the CPEC and Pakistan’s difficulty in paying the impending borrowing for CPEC energy projects were sending unfavorable signals regarding the government’s commitment to the multibillion dollar strategic initiative.
Since the commencement of CPEC seven years ago, $25 billion has been invested in Pakistan, according to the Chinese Foreign Ministry.
In addition, he stated Pakistan had promised to pay for Chinese investment in energy industry projects.
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