Alice Wells left red faced again as facts smash ‘debt trap’ myth
ISLAMABAD – At the verge of the end of her 30-year diplomatic career, the outgoing Principal Deputy Assistant Secretary of State for South and Central Asian Affairs, Ms Alice Wells, once again made a vicious attack against China, Pakistan Economic Corridor (CPEC).
However, again the US diplomat was left red faced as not only China responded strongly to the US assertion but Pakistan also snubbed the US diplomat, saying that there was no truth in the debt trap claims.
This is not the first time that a senior US diplomat has tried to tarnish and defame the CPEC and rather Alice Well seems still stuck in the outdated cold war mentality.
“We have reiterated many times that our total public debt relating to CPEC projects is less than even 10% of the total debt. Moreover, the public debt obtained from China has a maturity period of 20 years and the interest is 2.34 percent. If grants are included, the interest value slides down to about two percent,” said the foreign office Spokesperson, Ms Aisha Farooqui, rejecting western propaganda over CPEC.
“The claims made by some of the commentators and public officials on Pakistan’s debt obligations relating to CPEC are contrary to facts, ” she said and added that CPEC, a long-term project, has helped address development gaps in energy, infrastructure, industrialization, and job creation.
“Pakistan and China are ‘All-Weather Strategic Co-operative Partners’. We are engaged in prompting peace, development and stability in the region based on the principles of mutual respect, mutual benefit, win-win cooperation and shared development. Our ties are based on deep mutual trust and understanding”.
Ms Farooqui said that economic development and long-term prosperity of the people is our government’s top priority.
“CPEC, a flagship project of BRI, is a transformational project contributing positively and transparently to Pakistan’s national development. Pakistan believes that regional economic connectivity will provide a critical stimulus for creating broad-based growth across the region”.
The Spokesperson said that Pakistan and China have several mechanisms to discuss matters of mutual interest. Both countries are regularly in touch to address those issues bilaterally.
The US unfortunately has never been fair in dealing with Pakistan; the relations between the two countries have plummeted to the lowest level during the Trump administration.
US President Donald Trump has been bad mouthing Pakistan with his mantra of “do more”. US economic cooperation and assistance to Pakistan vis a vis China’s generous investment in CPEC projects is just peanuts.
Alice Wells statement about Pak- China CPEC cooperation depicts the malice that top US diplomats harbor about economic development in Pakistan and its flourishing military and economic relations with China.
The US diplomat’s statement contradicts the economic and ground realities.
The Chinese embassy in Pakistan has strongly condemned allegations made by Alice Wells terimg those as ‘baseless lies’ and brought forth some facts which should be enough to embarrass the US State Department and its diplomats in Pakistan.
According to the Chinese embassy statement, the CPEC project has brought $25 billion in direct investment and created more than 75,000 jobs for Pakistan.
“While US economic investment in Pakistan during the Trump era is almost insignificant compared to Chinese aid,” the statement said.
Further quoting the State Bank of Pakistan, the Chinese embassy said Pakistan’s debt from multilateral institutions amounts to about 47% of its total external debt, while loans from the CPEC is only $5.8 billion, 5.22% of the country’s total debt.
In war against COVID-19, China donated medical equipment and materials worth $55 million to Pakistan. While US assistance is zero dollars, the statement said.
Between 2002-2011, the Chinese embassy said, the US Congress had approved $18 billion in military and economic aid. However, the US reneged on its commitments during the war and Pakistan received only $8.647 billion.
Pakistan had to face a loss of 120 billion dollars by joining the US war on terror.
China also donated 300 tons of malathion and 50 air-powered high-efficiency remote sprayers to Pakistan and sent its experts to fight the locust attack.
The US administration’s economic and military assistance to Pakistan has almost dried up while Chinese aid is making Pakistan stronger in both sectors.
Pak- China friendship is time-tested and this win-win economic partnership cannot be disrupted by malicious remarks from a petty diplomat, said the statement.
The Pakistanis have great respect for the Chinese and not a single news channel or newspaper has criticized Pak China relations unlike US-Pak relations which has always been under severe criticism by experts due to unfair US dealings.
Sino-Pak relations are based on equal partnership and mutual respect. China has never used pressure tactics like the US and hence enjoys greater respect from the Pakistanis unlike the Americans.
The US should stop criticizing China and prove its friendship by helping Pakistan instead of sabotaging CPEC projects.
Over 20,000 Pakistani students are studying in China on scholarships provided by the Chinese government and Universities.
In the next phase of CPEC, both sides will strength the cooperation on health care, industrial development, agriculture and education. CPEC has resuscitated and energized the Pakistani economy which was left bleeding by the US during the war on terror.
