International Development News
Development News Edition

Pakistan all weather friend China calls for more talks on providing aid

"As for specific measures to be taken, the relevant authorities of the two sides will have detailed discussions," Kong added, without giving details.


Pakistan all weather friend China calls for more talks on providing aid
Pakistan's foreign reserves have plunged 42 per cent since the start of the year and now stand at about $8 billion, or less than two months of import cover. (Image Credit: Twitter)

China will provide Pakistan with economic aid but more talks will take place to fix the details, a senior Chinese diplomat said, after new Pakistani Prime Minister Imran Khan met Chinese Premier Li Keqiang on Saturday.

Pakistan's foreign reserves have plunged 42 per cent since the start of the year and now stand at about $8 billion, or less than two months of import cover.

Last month, Pakistan received a $6 billion rescue package from Saudi Arabia, but officials say it is not enough and the country still plans to seek a bailout from the International Monetary Fund (IMF) to avert a balance of payments crisis.

It would be Pakistan's 13th rescue package from the multilateral lender since the late 1980s.

Speaking to reporters in Beijing's Great Hall of the People following Khan's talks with Li, Chinese Vice Foreign Minister Kong Xuanyou said his country would help.

"During the visit, the two sides have made it clear in principle that the Chinese government will provide necessary support and assistance to Pakistan in tiding over the current economic difficulties," Kong said.

"As for specific measures to be taken, the relevant authorities of the two sides will have detailed discussions," he added, without giving details.

Khan told Chinese President Xi Jinping the previous day that he had inherited "a very difficult economic situation" at home.

Though China is Pakistan's closest ally, Khan's newly elected government has sought to re-think the two countries' signature project, the $60 billion China-Pakistan Economic Corridor (CPEC), which Beijing touts as the flagship infrastructure programme in its vast Belt and Road Initiative.

Pakistan has looked to amend CPEC to put greater emphasis on projects that focus on social development, rather than purely on infrastructure.

Kong said there would be no change in the number of projects under CPEC.

"There is no change at all. If there were, it would only be to increase, not decrease" the number of projects, he added.

However the scope of the project would increase and will tilt in favour of people's livelihoods, Kong said, also without elaborating.

After visiting Beijing, Khan is set to be a keynote speaker at a major import fair in Shanghai, an event that China hopes will show the world the country welcomes foreign companies and their products.

(With inputs from agencies.)


TRENDING

OPINION/BLOG/INTERVIEW

How music can help expectant mothers during pregnancy

Music provides pleasant ambience for all but its more important for expectant mothers as besides ensuring pleasant environment for them it also directly and indirectly influences the unborn babies. There are various scientific findings to c...

EdTech: A technical approach to flexible and cost-effective education

Its hight time for the world to go for innovative approaches like e-learning over traditional learning methods that need physical infrastructure, long-term planning, and huge investment. ...

Our school campaigns are our strongest ally: Joaquin Antuna, founder of Peace and Cooperation

Joaquin Antuna is the founder of Peace and Cooperation, a Spanish NGO which was nominated as peace messenger by the United Nations in 1986. Antuna is of very firm opinion that in order to have an incisive impact on the community we live in,...

'No escape from telephones', this 1953 prediction actually comes true

In 1953, a telephone company chief predicted that therell be no escape from telephones in the future....

Videos

Latest News

Syed Mushtaq Ali: Focus on Dhawan, Shaw in Super League stage

The spotlight would firmly be on the likes of Shikhar Dhawan and young Prithvi Shaw when the Super League stage of the Syed Mushtaq Ali Trophy T20 tournament begins here on Thursday. The focus will be on out-of-form opener Dhawan, who has n...

Greenman Viral Desai a man behind making first green model railway station at Udhna in Gujarat

Surat, 20 Nov 2019 Viral Desai, known as a greenman, and his foundation Hearts at Work in collaboration withChhadyo and Archroma organizations had adopted Udhana railway station in attempting to turn Udhana railway station into a green rai...

Yellow warning issued for rain, snowfall in Himachal

Heavy rain and snowfall accompanied by thunderstorm and lightning is likely to occur in eight out of the 12 districts of Himachal Pradesh on Friday, the meteorological department said. A yellow weather warning for heavy rain and snowfall in...

Jacqueline excited to work with Rakul Preet Singh in 'Attack'

Jacqueline Fernandez is joining John Abraham and Rakul Preet Singh in the upcoming Attack. John will be next seen in the action film, which he plans to turn it into a franchise.It is a fantastic film and script. I am coming together with Jo...

Give Feedback