Chinese Ambassador to Pakistan Yao Jing on Wednesday said that his country is only charging 2-2.5 percent on government-to-government loans with a repayment term that goes into a long tenor. Talking to Sherry Rehman, PPP''s parliamentary leader, at her chamber in about Rehman''s concerns on Pakistan''s indebtedness to China, he said that sovereign guarantees are only required on government projects and currently there are 21 ongoing projects worth $19 billion.
Rehman, who is also convenor of special committee on the project of China Pakistan Economic Corridor (CPEC), exchanged views on areas of collaboration between the two countries, during her meeting with the ambassador. She assured the ambassador of her party''s complete support, saying all members of the Special Committee are looking forward to CPEC as an opportunity which would benefit both countries immensely and "we would do all that is needed to facilitate it". The ambassador thanked Rehman for her support and said that he looked forward to enhancing Sino-China friendship that commenced during the Zulfikar Ali Bhutto government.
Source: Business Recorder