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Volume of Chinese loans under CPEC is $5.8b: Ahsan Iqbal

Pakistan Muslim League-Nawaz leader Ahsan Iqbal said on Sunday that the volume of Chinese loans under the China-Pakistan Economic Corridor was $5.8 billion.

Minister for Planning Asad Umar had said a day earlier that these loans amounted $18 billion.

Iqbal took to Twitter on Sunday to debunk the planning minister’s claims. He said “irresponsible statements” by the Pakistan Tehreek-e-Insaf government on the multi-billion dollar corridor had already created problems.

The PML-N leader said these Chinese loans were payable within 20-25 years with an average markup of 2%. He said all energy projects under the CPEC were investment-based.

“These terms can’t be called loan; it is a special gift for iron brother Pakistan from China,” Iqbal added.

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