FO rejected reports that China halted payments of CPEC projects

The Foreign Office (FO) on Thursday rubbished reports that Beijing had halted payments on any of the China-Pakistan Economic Corridor (CPEC) projects in the country.

FO Spokesperson Dr. Muhammad Faisal, during a weekly briefing, said there was no news from Beijing that the Chinese government was halting funding for any of the projects, adding that execution of payments takes place in a specific manner.

The FO’s denial comes days after Minister for Planning and Develop­ment Ahsan Iqbal had said that China had halted the release of funds for three CPEC projects till the revision of its ‘financial mechanism’ by Beijing.

According to an official press release issued by National Assembly Secretariat on December 11, Iqbal informed the 25th parliamentary committee meeting on CPEC that the Chinese side was reviewing the financial mechanism of these projects and work on them would restart after receiving approval from Beijing.

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