ISLAMABAD - Once again responding to the Imran Khan’s allegation that the government had misstated the facts about Chinese investment and in reality that was a loan, Federal Minister for Planning and Development Ahsan Iqbal has offered to resign if it is proved that the Chinese investment coming to Pakistan was a loan.

“I challenge Imran Khan to prove that China is going to provide loans to Pakistan at commercial rates and if he proves it then I will quit politics for ever,” Ahsan said while addressing a press conference here Tuesday.

He criticized Imran for allegedly trying to sabotage $45.6 billion Chinese investment by inciting violence through upcoming call of November 30.

The minister said that the power loadshedding would be controlled during the tenure of the PML (N) led regime as electricity generated through coal would cost 10 cent per unit against furnace oil cost between 20 to 40 cents.

He explained that China agreed to assist Pakistan for generating 16,400 MW electricity in two phases from 2014 to 2025 by investing $34 billion through IPP mode where the government would only guarantee Power Purchase Agreement (PPA) on produced power. “The remaining $11 billion will be provided by China in shape of grants and highly concessional loans for other China-Pakistan Economic Corridor (CPEC) related projects,” he added.

Ahsan said that there was no extraordinary relaxation given to Chinese side for getting huge portfolio of $45.6 billion largely in shape of investment. “We are going to provide 17 percent returns in dollars on investment and its normal rate of return,” he added.

The minister said that the Revolving Fund would only ensure that there would be no circular debt in payment on the coming investment from China.

Talking about Imran, he said that the PTI Chairman should show mercy on this nation and stop levelling allegations against everyone including serving and former judges and now shun its way of politics by plunging intelligence agencies into political matters.

To a question about Imran’s objection over Chief Minister Punjab’s frequent visits of China, Ahsan said that the Orange Line project to establish mass transit of rail in Lahore required negotiations to finalize it so the CM Punjab had visited along with Prime Minister.

The minister said that Pakistan would invest $5.9 billion on 837 kilometer road infrastructure projects through upgradation of Karakorum Highway (KKH) and construction of Lahore-Karachi motorway.

For railway projects, the CPEC would utilize $3.690 billion on upgradation of 1736 km rail links and establishing a dry port at Havelian and linkages between Kunjrab, Gwadar and other parts of the country.

On Gawadar port, the minister said that there would be investment of $660 million to establish sea, air and land linkages by constructing airports and other facilities in the area.

On Orange Line project under CPEC, there would be investment of $1.6 billion to construct rail mass transit in Lahore and $44 million would be utilized for cross-border fibre optic system to establish linkages between the two countries.

For prioritized projects of generating 10,400 MW electricity, the country will generate 1320 MW through Port Qasim Electric Power Company, Engro Thar coal fired power project 660 MW, two Thar coal project block-1 1320 MW, Gwadar Coal Project 300 MW, Rahimyar Khan coal project 1320 MW, Muzzaffar Garh coal project 1320 MW, Sahiwal power plan 1320 MW, Suki Kinari power project located in KPK for generating 870 MW, Karot Hydropower project 720 MW, 250 MW through wind projects and 1000 MW through Quaid-e-Azam solar projects.