PM Imran meets Chinese President Xi in Beijing

03 November, 2018, 00:59 | Author: Mary Valdez
  • China Pakistan bus service,PoK,Pakistan-occupied Kashmir

Prime Minister Imran Khan arrives at Beijing.Chinese Minister for Transport Mr. Li Xiaopeng, Chinese Ambassador to Pakistan Mr. Yao Jing and Ambassador of Pakistan to China Mr. Masood Khalid received the Prime Minister upon arrival in Beijing.

Saudi Arabia has already pledged $3 billion to help Pakistan stave off its fiscal crisis and agreed to defer oil payments.

In reference to PM Imran Khan's visit to China, Federal Minister for Information and Broadcasting Fawad Chaudhry had said the nation would soon receive a very good news.

The loan and the investments were reportedly part of the $6 billion package.

There is no official comment from Beijing yet on the report.

The visit comes as the Pakistani government struggles with a financial crisis and as it looks to foreign countries for aid, while negotiating a bailout with the International Monetary Fund.

Earlier during his visit to Saudi Arabia, Riyadh committed Dollars 6 billion funding which included USD 3 billion deferred payment for oil imports.

Despite the questions raised, China has remained confident in the correctness of its approach to co-operation with Pakistan, with Foreign Ministry spokesman Lu Kang on Wednesday saying the economic corridor was a "mutually beneficial project between the two countries which plays an important role in improving people's livelihood and promoting economic development". Pakistan will also ask "for some corrections in the trade balance and tariff concessions" from China, he said. He said we desire to learn from the experiences and successes of China in different sectors.

Pakistan and China don't share a border.

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Haling Pakistan efforts, he said that this country, despite its domestic turmoil and neighbors aggression, always stood through every thick and thin with the helpless people of Jammu and Kashmir.

He said Pakistan faced a deficit of $27 billion which included $9 billion debt repayment this year.

According to the details, PM Imran Khan met with the AIIB President on the side line of China International Import Expo.

The premier is accompanied by Foreign Minister Shah Mehmood Qureshi, Finance Minister Asad Umar, Railways Minister Sheikh Rashid Ahmed, Minister for Planning Makhdoom Khusro Bukhtiar, Advisor to Prime Minister on Commerce, Industry and Investment Abdul Razzak Dawood and Chief Minister of Balochistan Jam Kamal.

The statements evoked serious concerns in China as the CPEC is the flagship project of President Xi's pet multi-billion BRI.

While that has yet to happen, the sides have begun reassessing some aspects of the Pakistan section of Belt and Road, known as the China-Pakistan Economic Corridor, including scaling back the development of Pakistan's Arabian Sea port of Gwadar.

Khan is also keen to renegotiate Islamabad's projects under the "Belt and Road Initiative", Beijing's global trade and infrastructure development programme.

"In 2017, Prime Minister Narendra Modi had said that it is only by respecting the autonomy of countries involved, there can be regional connectivity and avoid differences and disorientation".

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