Islamabad: Federal Minister for Planning, Development and Special Initiatives Asad Umar, while responding to some recent international criticism directed towards the China-Pakistan Economic Corridor (CPEC) project, has reiterated the government’s commitment towards ensuring complete transparency in the multi-billion-dollar initiative’s developmental proceedings — calling it a true manifestation of Pak-China friendship, according to news sources.
The minster made these remarks while addressing a seminar titled ‘Role of Parliaments in cementing regional integration’ at the Pakistan Institute of Parliamentary Services. He was responding to the recent statement made by Acting Assistant Secretary for the Bureau of South and Central Asian Affairs Alice Wells (an aide of President Donald Trump) in which she said that Pakistan faced long-term economic damage in their pursuit of CPEC and that the venture only benefited China.
Minister Asad Umar stated that CPEC is a USD 70 billion project, yet most of these funds had been provided in the form of loans that had been granted on soft terms and with negligible interest rates. He stressed that the national economic problems called for some hard work by Pakistan itself.
Speaker National Assembly Asad Qaiser was also in attendance at the seminar as the chief guest and said that Pakistan will assist any neighbouring countries looking to benefit from CPEC. He added that Pakistan and China had centuries’ old economic, trade and cultural ties and that Pakistan believed that CPEC was an effective means to boost progress and prosperity in the region.
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