Can pay off loans only after increasing national wealth, says PM Imran Khan

ISLAMABAD (92 News) – Prime Minister Imran Khan has said that they can only pay off the loans only after increasing the national wealth.

Addressing a ceremony in connection with the inauguration of Matiari to Lahore 600 KV transmission line completed under the CPEC on Thursday, he said that the pace of CPEC projects had been sluggish due to the Covid-19 pandemic. "However, now the CPEC projects are moving ahead at a fast pace," he added.

The prime minister said that the line losses had increased due to the old transmission lines. "The people have to bear the burden of the costly electricity," he added.

He said that the scope of the CPEC project was now being expanded from power generation and road infrastructure projects to cooperation in the areas of industries and agriculture. He said that cooperation in these two important sectors will help Pakistan reduce the debt burden through wealth creation.

Speaking on the occasion, Chinese Ambassador to Pakistan Nong Rong said that CPEC project was game-changer for Pakistan as well as a project of progress and prosperity. "The Matiari-Lahore transmission line will cater to the needs of millions of commercial and domestic consumers," he declared.

The Chinese Ambassador said that the CPEC project had brought investment of US$25.4 billion and created 75,000 job opportunities.

Minister for Energy Hammad Azhar said that the country was not facing the power production issue, but the transmission issue. "Steps have been taken on priority basis to resolve the transmission issue. The CPEC projects are being completed at a fast pace," he maintained.