China furious with Pakistan over delay in CPEC projects

TIL Desk/World/Beijing/ Caught in a quagmire between political instability and economic turmoil, the development projects under the China-Pakistan Economic Corridor (CPEC) have been delayed in Pakistan, angering China.

China is angry in particular as it recently helped Pakistan out by rolling out loans and extending much-needed support. Diplomatic sources say Chinese authorities are ‘much annoyed’ by the mismanagement in Pakistan.

“China rolled over loans with a guarantee of IMF compliance and renewal but this did not happen. The power plant’s payment is stuck in the billions. (Pakistani) The government made assurances but nothing practically happened,” said a senior diplomat.

However, the International Monetary Fund (IMF) funding is still in doubt, Pakistan is hardly able to execute plans, let alone complete the development projects under the CPEC. China, the diplomat added, is also worried about the political instability in Pakistan.