In a letter written to Syed Tariq Fatemi, Special Assistant to Prime Minister Shehbaz Sharif, Pang Chunshui, a top official in the Chinese Embassy, expressed strong displeasure over Pakistan not returning the loan. Not only this, he met Syed Tariq on Monday and expressed concern over the power project of CPEC. According to the report of Express Tribune, Syed Tariq said, ‘China’s loan to be returned for power projects is currently $ 1.5 billion. This has put Chinese companies in great worry.
Chinese companies are unable to get coal, crisis
The Chinese official Pang also complained that Sahiwal, the hub of China’s power plants, and Port Qasim have also come under currency exchange restrictions, making it difficult to import coal. Tariq said, ‘These power plants require a special grade of coal to generate electricity. If it is bought from the local market then it has many problems. The price of this coal should not be more than that of imported coal. He said that due to non-availability of coal, these plants are not able to work at their full capacity and they are being penalised.
Pakistan Wheat Crisis: Heavy shortage of flour in Pakistan, why did such situation come?
Pang informed about non-availability of coal. He said that Pakistan has imposed a ban on imports, due to which Chinese companies are also facing problems in clearance of goods at Karachi port. The Chinese representative said that their concerns should be discussed in the Joint Committee. At the same time, the meeting of this committee is not being held. Please tell that Pakistan has become poor at this time and is on the verge of default. IMF is not giving loan to Pakistan. On the other hand, to save Pakistan, a fresh loan of billions of dollars was given to Pakistan in the past. China has given the maximum loan to Pakistan. Analysts say that China is trapping Pakistan in debt crisis in the name of CPEC.