Loan from China under CPEC is $5.8 billion; Ahsan clarifies Asad Umar

ISLAMABAD (92 News) – Pakistan Muslim League-N (PML-N) stalwart Ahsan Iqbal contradicted with former finance minister Asad Umar, saying that the total loan volume granted by China for the China-Pakistan Economic Corridor (CPEC) was USD 5.8 billion not USD 18 billion. In a tweet on Sunday, the PML-N leader said, “Handle to correct the figures mentioned by newly appointed Minister for Planning Asad Umar, and pointed out that the amount [is] payable in 20-25 years with the average markup of 2%.” Ahsan Iqbal further claimed that the terms under which the loan has been granted could not be called as loan but a special gift for iron brother Pakistan from China. “All energy projects are in IPP mode,” he added.

Loans under #CPEC are not $18b, rather only $5.8b, payable in 20-25 yrs with avg mark up 2%. These terms can’t be called loan it is a special gift for iron brother Pakistan from China. All energy projects are in IPP mode. @zlj517 @CPEC_Official https://t.co/yPAklBFP8E

— Ahsan Iqbal (@betterpakistan) November 24, 2019

Earlier, Asad Umar had stated that the interest rate on the $18 billion loan from China was only 2 per cent.