$10 billion debt owed to China by Pakistan

  • Sat,16 Mar 2019 07:18:52 AM

Lahore (PTI): Pakistan owes its "all-weather friend" China at least $10 billion debt for the construction of the Gwadar port and other projects, the top US general has said, as he underlined Beijing's "predatory economics" to expand its global influence. 

The strategic Gwadar Port in Balochistan province on the Arabian Sea is being built by China under the multi-billion  China-Pakistan Economic Corridor (CPEC) and is considered to be a link between Beijing's ambitious One Belt, One Road projects.

"Let us look at just a few examples. Saddled with predatory Chinese loans, Sri Lanka granted China a 99-year lease and 70 per cent stake in its deep-water port," General Joseph Dunford, Chairman of US Joint Chiefs of Staff, told a Senate Armed Services Committee on Thursday. 

 

 

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