- Minister says Chinese were giving money not as loans but as an investment in line with energy policy
- Lashes out at Khan for making Pak-China projects ‘controversial’, paving way for Chinese president’s visit’s postponement
Federal Minister for Planning, Development and Reforms Ahsan Iqbal has strongly condemned Pakistan Tehreek-e-Insaf (PTI) Imran Khan’s statement against Chinese development assistance to Pakistan under “China-Pakistan Economic Corridor” and demanded an immediate apology from him.
The minister, who also heads China Pakistan Economic Corridor Joint Coordination Committee from Pakistani side, said, “Pakistan and China are closest friends and enjoy time tested all weather friendship.”
In a statement issued Saturday, he said, “At a time when international investors were shying away from Pakistan due to security environment in the region, decision of Chinese and Pakistani leadership during PM Nawaz Sharif’s visit to Beijing in July 13 to take Pak-China relations to new heights in economic field through China Pakistan Economic Corridor Project is a milestone.”
The most critical energy and infrastructure sectors related projects will infuse new life into Pakistan’s economy, he added.
The minister said the commitment of Chinese government to help Pakistan overcome its energy shortages through energy projects is a proof that “a friend in need is a friend indeed”.
He said the projects included 10,400 MW coal, hydel, solar, and wind based energy projects. He said early harvest projects are in IPP mode as investment projects. He rejected Khan’s assertion that these projects were being financed through borrowing.
Iqbal said that these projects were coming under the energy policy which was open for all investors from any part of the world. Hence, the assertion that expensive contracts have been signed with China is “baseless and malafide”, he added.
“It is not expected from a leader of the stature of Mr Khan, whose party is ruling Khyber Pakhtunkhwa province that he would show such immaturity and irresponsibility,” he said, adding that Khan had alleged that these loans are being taken at 7 percent interest, which is “incorrect” as these projects were not loans but coming as Foreign Direct Investment (FDI) in the country.
The minister said that there was a mad race among all countries to attract maximum FDI for higher growth rates.
“Energy projects with Chinese assistance are a source of oxygen for our economy, which will not only push growth rate of economy upwards by solving energy crisis but also help create millions of new jobs,” he said, adding that Khan’s allegations of getting kickbacks and commission was a “shameful act” on his part.
“His untimely and undemocratic tactics in the capital caused postponement of Chinese president’s visit to Pakistan and now he is making China-Pakistan projects controversial. People of Pakistan want to know as to whose agenda is he following?”
He said, “Pakistan and China are bound in strongest bond of friendship, which is beyond political divide, and people of Pakistan are indebted to Chinese leadership for showing strong commitment to help Pakistan overcome energy crisis. President of China, Xi Jinping, who is a great friend of Pakistan, will soon visit Pakistan,” he said.