CHINESE DIPLOMAT SEES BAILOUT PACKAGES FOR PAKISTAN THRU INVESTMENT, NOT LOANS

  Monday, 03 December 2018

source: shiitenews

Chinese diplomat in Pakistan said that China is investing in multiple sectors and launching business ventures instead of providing loans in order to boost Pakistan’s economy.
He further said that the new ventures that were being launched would broaden the scope of the China-Pakistan Economic Corridor (CPEC).
The Chinese consul general claimed that China would "never leave Pakistan in a lurch" and will provide "maximum resources" to ensure that the latter can strengthen its wavering economy.
In response to a question about Pakistan's crippling debts, Dingbin insisted that CPEC did not contribute to "Pakistan's debt burden".
He said that only four of the 22 projects launched under CPEC provided concessional loans, while the rest were investment-based and would strengthen Pakistan's economy.
"> The Chinese Consul General Long Dingbin said this in an interview in Lahore a few days after an attack on the Chinese consulate in Karachi was foiled by the police.
Dingbin said that during Prime Minister Imran Khan's recent trip to China, the two neighbours had signed 15 new agreements which will lead to increased cooperation in politics and the financial sector and will also improve cultural ties.
"Instead of hard cash, China plans to eventually provide multiple forms of bailout packages [to Pakistan] in the shape of phenomenal investments in fresh projects," he said, adding that the investments will help Pakistan "overcome its financial crunch".
He further said that the new ventures that were being launched would broaden the scope of the China-Pakistan Economic Corridor (CPEC).
The Chinese consul general claimed that China would "never leave Pakistan in a lurch" and will provide "maximum resources" to ensure that the latter can strengthen its wavering economy.
In response to a question about Pakistan's crippling debts, Dingbin insisted that CPEC did not contribute to "Pakistan's debt burden".
He said that only four of the 22 projects launched under CPEC provided concessional loans, while the rest were investment-based and would strengthen Pakistan's economy.