Chinese investment in Pakistan not loans: Khawaja Asif
Asif advised Imran Khan, who made the allegations, "to consult experts" before making such "unfounded" assertions
ISLAMABAD:
Federal Minister for Water and Power Khawaja Muhammad Asif has said that investment in Pakistan by China were not loans, Radio Pakistan reported.
Addressing a news conference in Islamabad on Tuesday, Asif rejected allegations of PTI Chairman Imran Khan that the Nawaz-led government had drastically increased foreign debt. Asif advised Imran "to consult experts" before making such "unfounded" assertions.
The minister said China was committing to invest $34 billion when its president visits Pakistan. The trip, initially scheduled for later this month, was postponed because of the unrest in the capital.
Asif said that advertisements were issued to set up coal-based power plants at Gaddani. He refuted Imran’s claims that Chinese coal was to be used for these projects, saying that Pakistan will import from Australia, Indonesia and South Africa via a transparent system.
“The government would procure coal for state-owned power plants while independent power producers themselves would obtain coal for their plants themselves from their own desired sources,” he said.
As for Pakistan's own coal reserves, "Thar coal reserves will be used for projects being launched by Sindh Government in collaboration with private sector,” Asif said.
New transmission lines, he said, will also be laid with collaboration of the private sector, adding that circular debts have reduced from 295 billion to 238 billion while five billion more recovery has been made in spite of sit-ins.
Federal Minister for Water and Power Khawaja Muhammad Asif has said that investment in Pakistan by China were not loans, Radio Pakistan reported.
Addressing a news conference in Islamabad on Tuesday, Asif rejected allegations of PTI Chairman Imran Khan that the Nawaz-led government had drastically increased foreign debt. Asif advised Imran "to consult experts" before making such "unfounded" assertions.
The minister said China was committing to invest $34 billion when its president visits Pakistan. The trip, initially scheduled for later this month, was postponed because of the unrest in the capital.
Asif said that advertisements were issued to set up coal-based power plants at Gaddani. He refuted Imran’s claims that Chinese coal was to be used for these projects, saying that Pakistan will import from Australia, Indonesia and South Africa via a transparent system.
“The government would procure coal for state-owned power plants while independent power producers themselves would obtain coal for their plants themselves from their own desired sources,” he said.
As for Pakistan's own coal reserves, "Thar coal reserves will be used for projects being launched by Sindh Government in collaboration with private sector,” Asif said.
New transmission lines, he said, will also be laid with collaboration of the private sector, adding that circular debts have reduced from 295 billion to 238 billion while five billion more recovery has been made in spite of sit-ins.