ISLAMABAD, Jan. 23 (Gwadar Pro) - Pakistan's Prime Minister Imran Khan has said that the Chinese loans just accounted for five or six percent of Pakistan's total loan portfolio.

In an interview with CNBC on the sidelines of the annual meeting of the World Economic Forum in Davos, Switzerland, the PM rejected the impression that the China-Pakistan Economic Corridor (CPEC) had made Pakistan in debt to China.

He said China helped Pakistan in the most difficult times by making investments under the Belt and Road Initiative (BRI) and China-Pakistan Economic Corridor (CPEC).

Because of them, Pakistan has got the opportunity to attract foreign investment, he said, "we created those special economic zones to open more while giving special concessions to industry."

He said the CPEC also envisaged cooperation in different sectors including technology transfer in the agriculture sector.

"We have fertile agricultural land but unfortunately very low productivity", the prime minister said, "China's seed technology is much better than that of Pakistan. They are really helping us and we are grateful".

About Pakistan's economy, Mr. Khan said the country is now on the right track and the focus is on export-led growth by promoting industrialization. "Pakistan is now safe and ready for business."