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$37 bn is pure Chinese investment, while remaining are soft loans: Ahsan Iqbal

ISLAMABAD: Federal Minister for Planning and Development Ahsan Iqbal said on Wednesday that out of a total of 46 billion dollars, 37 billion is pure Chinese investment, while remaining are soft loans.

Addressing a media conference along with Information Minister Pervaiz Rashid in Islamabad today, he said the Chinese government will subsidise concessionary part for Chinese companies working on infrastructure related projects under the China-Pakistan Economic Corridor (CPEC).

He went on to say that said all energy related projects would be implemented in investment mode, adding that the foundations of projects worth 28 billion dollars have been laid.

Iqbal further said all the projects would be completed within the stipulated time and no incompetence will be tolerated regarding completion of the projects.

The minister also said that the CPEC will transform starvation ridden Thar into an energy hub.