Chinese Ambassador to Pakistan Yao Jing attended a media briefing on the China-Pakistan Economic Corridor (CPEC) in Islamabad on Friday. (Photo: Chinese Embassy)

Islamabad (People’s Daily) – Pakistani Prime Minister Imran Khan’s upcoming visit to China is very important and the Chinese government is prepared to extend all possible help to solve the country’s economic problems, Chinese Ambassador to Pakistan Yao Jing told media on Friday.

Yao’s remarks were made during a briefing at the Chinese embassy in Islamabad, Pakistan regarding Khan’s upcoming visit to China and the China-Pakistan Economic Corridor (CPEC) progress.

Yao said CPEC, a collection of infrastructure projects between the two countries, is a step forward for building a strong and prosperous Pakistan.

Zhao Lijian, deputy chief of the embassy, also recently dismissed western media branding the CPEC as a “debt trap” and explained that the Chinese government’s soft loans for CPEC projects accounted for only 6.3 percent of Pakistan’s total foreign debt. 

Zhao said of all the CPEC projects, only the KKH Phase-II, Karachi-Lahore Motorway, Orange Line transit system, and fiber optic cable installation used the Chinese government’s soft loans, which amounted to roughly $6 billion.

Zhao said the repayment schedule of the four projects starts in 2021 and will have annual payments of some $300 to $400 million.

Zhao also said all CPEC energy projects are funded by commercial loans, which are borrowed and repaid by Chinese companies, to defuse several “groundless” rumors circulating on Pakistani social media sites.

Zhao mentioned that some 75,000 Pakistani people have secured employment thanks to 22 CPEC projects.

Khan will pay his first official visit to China from Nov. 2-5 at the invitation of the Chinese leadership to discuss bilateral issues with Chinese President Xi Jinping and Premier Li Keqiang and ink several agreements, Pakistan’s Foreign Ministry said Thursday.

Khan’s visit is expected to provide further impetus to enhancing the existing strategic ties between Pakistan and China and break new ground for broadening the bilateral partnership, according to the foreign ministry.