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giftedviz.com November 21, 2018


Pakistani delegation leaves for China to finalise relief package

09 November 2018, 06:54 | Darnell Patrick

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While expressing his desire for lasting peace in end of violence, Khan apprised envoy that Pakistan would continue to support resolution of United Nations for immediate restoration of peace in Yemen.

Speaking during a press conference on Tuesday, Finance Minister Asad Umar said that Pakistan had secured "commitment at the highest level" from the Chinese leadership "to increase our exports, and to do (the things) we should (to) have enough income so that we do not need to borrow", according to domestic media reports.

Minister for Planning, Development and Reform Makhdoom Khusro Bakhtiar says Pakistan and China have agreed to broaden the existing trajectory of China Pakistan Economic Corridor (CPEC) project and explore new areas of cooperation.

"Some people tried to portray the current government as a regime which is inattentive towards Pakistan's relationship with China. I want to make that clear in unequivocal terms that we do not have any balance of payments crisis now".

During Khan's visit to China, Pakistan media reported that Beijing had agreed to provide $6 billion in aid to the cash-strapped country which included a loan of $1.5 billion along with an additional package of $3 billion for the CPEC.

Discussions will also be held pertaining to Pakistan-made products' access to the Chinese markets, the sources said.

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China has invested tens of billions of dollars in Pakistan in recent years as part of its Belt and Road Initiative - which aims to link the economies of Asia, Africa and Europe via huge infrastructural projects. "This tour helped in moving the strategic relationship to an economic partnership", he said.

Last month, Saudi Arabia said it would provide Pakistan with a $6bn (€5.2bn; £4.6bn) rescue package, but officials have said it is not enough, and the country still plans to seek a bailout from the International Monetary Fund.

Regarding the second phase of the Pakistan-China Free Trade Agreement (FTA), he said that both sides would try to wrap it up by April 2019.

Therefore, petitioner added, Khan does not fulfill the criteria under Article 62 and 63 of the constitution.

The foreign minister underscored that the successful visit had also trashed the notion that Pakistan-China friendship would suffer under the Pakistan Tehreek-e-Insaf (PTI) government.



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