CPEC not increasing government debt but they create thousands of jobs in Pakistan. CPEC is purely a trade project and has no military objectives.
This was stated by Center of Ocean Law and Policy China Director Research Yan Yan while presenting her keynote address at International Maritime Conference (IMC) held at Karachi. Yan Yan presented paper on the topic of “Maritime Security Co-operation in Indian Ocean”. IMC was organize by National Institute of Maritime Affairs (NIMA) on the sideline of Pakistan Navy Joint military exercise Aman 2019.
Yan Yan said that CPEC and BRI is the victim of fake news. Western media is publishing news with distorted facts and figures. About CPEC western media saying that this is incising heavy debt of Pakistan Exchequer. But it is not true.
“Under CPEC project China promise to invest US$ 56 billion out of which US$ 19 billion invested so far. This is not loan it is Foreign Direct Investment (FDI).” Yan said.
Yan further said that till date CPEC projects created about 70 thousand jobs in Pakistan. And help Pakistan about 2 percent growth in its GDP.
This kind of propaganda also going on against the China investment in Sri Lanka. Chinese loan 1:8 to Sri Lankan total debt. Sri Lankan government requested to restructuring of debt and both countries working on this.
Yan also said that western media said that CPEC is a military project but Pakistan and China has many agreements in CPEC but no one military related. She elaborate the importance of Indian Ocean for China and said that China is dependent in Indian Ocean for its energy imports and good export.