Karachi: The reports of the slowdown of the China-Pakistan Economic Corridor (CPEC) under Imran Khan's Pakistan Tehreek-e-Insaf regime has been refuted by China's consul general in Karachi, Li Bijian as he ruled out a disagreement between Pakistan and the Chinese governments.

However, the Chinese diplomat also showed certain concerns about the security issues regarding Chinese officials in various provinces of Pakistan.

"China and Pakistan have always shared mutual trust, mutual understanding and mutual support, and are all-weather friends," Li Bijan said, adding that the change in policies affects the investment and the same thing is being seen in CPEC projects.

Pakistan is required to borrow USD 40 billion in the current fiscal year for meeting its external financing needs. The placement of 20 pc of CPEC projects' cost can provide some breathing space. In return, Pakistan will remove hurdles in the way of these five projects, according to the sources.

Meanwhile, this week, the government decided to abolish the CPEC Authority once it gets consent from the Chinese side. The CPEC Authority Act will be repealed once the Chinese authorities give their consent as the country's planning and development ministry will take over in dealing with the matter of the multi-billion dollar project.

Even after almost a decade after Beijing initiated the China-Pakistan Economic Corridor (CPEC), the implementation of several of its important projects in Pakistan failed to generate any investments for the country which is headed into an economic crisis.

Pakistan Occupied Gilgit Baltistan has been witnessing a spurt in local protests against the Pakistan Army over land issues. The local people are angry at the "land grabbing" spree of the army, all in the name of the China-Pakistan Economic Corridor (CPEC).

however, as per the locals, the PTI government led by former Prime Minister Imran Khan took over two years to set up the authority and it largely remained dormant as the last political dispensation too was not in the favour of having the authority.

Local communities strongly believe that Pakistan has in fact leased out the entire Gilgit Baltistan to China under the garb of CPEC and its security for the next half a century. Several thousand Chinese are already present in the region working on the CPEC projects.

With them are hundreds of Chinese spies and military men keeping an eye on the locals as well as providing security cover to Chinese companies.