China rejects as 'totally false' report about Pak seeking more loans to keep CPEC alive

The Financial Times recently reported that Pakistan has asked China to give it more loans to continue the project.

Published: 11th July 2018 06:45 PM  |   Last Updated: 11th July 2018 06:45 PM   |  A+A-

By PTI

BEIJING: China today rejected as "totally false" a media report about Pakistan approaching it for more loans to keep President Xi Jinping's ambitious multi-billion dollar China-Pakistan Economic Corridor project alive.

The Financial Times recently reported that Pakistan has asked China to give it more loans to continue the project.

"These reports are totally false," Chinese Foreign Ministry spokesperson Hua Chunying said, responding to a question about the report.

In fact, Pakistan's Finance Minister Shamshad Akhtar has made a clarification on this matter stressing that his country will continue with the CPEC construction, Hua added.

The USD 50 billion CPEC, a flagship project of President Xi's Belt and Road Initiative (BRI), will connect China's Muslim-majority Xinjiang region with Pakistan's Gwadar port giving it access to the Arabian Sea.

"We noted the shortage of foreign reserves in Pakistan and we believe Pakistan will try to maintain steady economic development against all odds," Hua said when asked about the media report that Pakistan is facing a ballooning debt and shortage of foreign reserves.

"In recent times, the CPEC has played a positive role in helping in Pakistan achieving high economic development supported by the government and people. We believe this will not be interrupted by other factors," the spokesperson added.

Stay up to date on all the latest World news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp