You are here: Home » International » News » Others
Business Standard

CPEC: China rejects report on Pakistan's plan to review agreements

The Financial Times quoted a top Pakistani official as saying that the 'previous government did a bad job negotiating with China on the CPEC'

China-pakistan Economic Corridor  |  Cpec  |  Beijing

IANS  |  Beijing 

Pakistan, China, CPEC, cpec
Photo: Shutterstock

on Tuesday rejected a Financial Times report that Pakistan is mulling to negotiate the terms of the (CPEC), a key part of Beijing's ambitious Belt and Road project.

The Financial Times reported that Pakistan plans to review or renegotiate agreements reached under China's Belt and Road project and wants to shelve the project.

"We have noted the relevant report, also noted that a relevant Pakistani official made a clarification on his remarks. On September 10, Pakistani Commerce Ministry issued a statement that remarks cited by Financial Times were out of context and distorted its original meaning. The Pakistan side refused to recognise this report," Foreign Ministry spokesperson Geng Shuang said here.

"According to my information, the committee composed of nine people to review the aims to enhance exchange with China, accelerate the project and deliver more outcomes to the Pakistani people instead of putting it off," Geng said.

The Financial Times quoted a top Pakistani official as saying that the "previous government did a bad job negotiating with on the CPEC".

"They (previous government) didn't do their homework correctly and didn't negotiate correctly, so they gave away a lot," Abdul Razak Dawood, the Pakistani member of the Cabinet responsible for commerce, textiles, industry and investment, told the Financial Times.

"Chinese companies received tax breaks, many breaks and have an undue advantage in Pakistan. This is one of the things we're looking at because it's not fair that Pakistani companies should be disadvantaged," the official said.

The Chinese-funded -- worth over $50 billion -- aims to link China's Kashgar in Xingjiang with Pakistan's Gwadar port.

India opposes the project as its planned route cuts through the disputed region held by Pakistan and claimed by India.

Also, there are fears that Pakistan might get into a debt trap because of high-interest Chinese loans. But has always sought to allay such concerns about the Belt and Road project.

"They are over 130 countries and organisations who have inked cooperation documents with If the Belt and Road initiative were out of geopolitical consideration, like someone said it is faced with risks and challenges and would cause debt traps, then it would not have been welcomed," Geng said.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, September 11 2018. 15:16 IST