Daily Times

ISLAMABAD: Book written by former dean and director of IBA and former governor of the State Bank of Pakistan Dr Ishrat Husain is being launched on May 14 here at a local hotel.

The book titled ‘CPEC & Pakistan Economy: An Appraisal’ has been published by the Centre of Excellence, China-Pakistan Economic Corridor, a joint initiative of Pakistan Institute of Development Economics (PIDE) and Ministry of Planning, Development and Reform.

The book is an effort to address prevalent reservations about CPEC like lack of transparency and non-availability of information, terms and conditions of financing at which the Chinese companies are participating in development projects and the likely future financing burden on Pakistan’s balance of payments.

This book clarifies these issues to the extent that the projects have been planned, agreed upon, finalized and their implementation is underway. “Only approximately half of $45 billion committed originally for the CPEC would be utilized for these projects. Pakistan’s liability is therefore at present limited to this $23-25 billion only. Many other projects are at the feasibility stage or discussion and negotiation stages between the two governments or on hold. No amount has either been committed or disbursed for those projects and the liability of Pakistan has not yet arisen,” according to the book.

Published in Daily Times, May 11^th 2018.