Cash-strapped Pakistan at 'low point', PM tells China

Cash-strapped Pakistan at 'low point', PM tells China

PM Khan said there were other things like urban development, pollution and so many things that Pakistan faced and could benefit from the Chinese experience, adding, China has developed very fast in the area of agriculture.

Imran is scheduled to hold talks with Chinese President Xi Jinping and Premier Li Keqiang and both the countries are expected to sign several agreements.

In response, Pakistan's closest ally China promised "to provide support and help to the best of its ability" for Islamabad's economic woes, Reuters reports, adding, "Pakistan's foreign reserves have plunged 42 percent since the start of the year and now stand at about $7.8 billion, or less than two months of import cover".

India on Wednesday said it has lodged strong protests with China and Pakistan over the proposed bus service between the two countries through Pakistan-occupied Kashmir (PoK) under the so called "China-Pakistan Economic Corridor" or "CPEC" project. However, there was no immediate official comment from Beijing on the report.


Pakistan is now hoping to secure help from the International Monetary Fund (IMF) to avert the crisis in what would be the nation's 13th rescue package from the lender in 30 years.

Mr Khan's visit evoked considerable interest in China as it comes in the wake of his past criticism of the Dollars 50 billion China-Pakistan Economic Corridor (CPEC) projects and remarks by his ministers to cut down some of the projects over debt concern.

Khan, who arrived in Beijing on Thursday evening for a five-day visit - his first to the city since his election victory in August - said before he left that he wanted to learn more from China, which is not only Pakistan's strategic partner but also its biggest foreign investor and aid donor.

In a meeting with Chinese IDCPC Minister Song Tao in Beijing, he said such exchanges would ensure that the exceptional friendship between Pakistan and China endured from generation to generation.


Foreign Minister Shah Mahmood Qureshi, Finance Minister Asad Umar, Railways Minister Sheikh Rashid Ahmed, Minister for Planning Makhdoom Khusro Bukhtiar, Adviser to Prime Minister on Commerce Abdul Razzak Dawood, Balochistan Chief Minister Jam Kamal Khan and Pakistan Ambassador to China Masood Khalid were also present during the meeting.

While India has asserted that the bus service will be a "violation of India's sovereignty and territorial integrity", the Foreign Office of Pakistan accused New Delhi of trying to mislead the global community.

Analysts said Khan would push for financial assistance from Beijing, an important creditor of Pakistan, during the visit. "The people of Pakistan have always looked upon China very positively as a friend", he observed. The trip "is significant for President Xi Jinping, whose flagship BRI has had hiccups in recent months". The CPEC has also become a major irritant in India-China relations with New Delhi voicing its opposition to the infrastructure project as it traverses through Pakistan-occupied Kashmir.


Related Articles

  • Triple H Injured at WWE Crown Jewel, Reportedly Needs Surgery

    Triple H Injured at WWE Crown Jewel, Reportedly Needs Surgery

    WWE recently produced a commercial that featured Hogan in it that would have seen his return announced . One of the biggest highlights of the event will definitely be the first-ever World Cup tournament .
    Alec Baldwin arrested after argument over parking spot

    Alec Baldwin arrested after argument over parking spot

    An ABC spokeswoman had no comment about Baldwin's arrest , other than to say his talk show will air Sunday night as scheduled. In 2014, he was arrested for disorderly conduct after allegedly riding his bike the wrong way up Fifth Avenue.
    India inaugurates world's tallest statue

    India inaugurates world's tallest statue

    The proposed Chhatrapati Shivaji Memorial, expected to be wrapped up in 2021, will stand at 212 metres. Including the pedestal, the Statue of Liberty stands about half as tall at 305 feet.
  • Joint Turkey-US patrols begin in Syria's Manbij: state media

    Joint Turkey-US patrols begin in Syria's Manbij: state media

    At the time, the SDF said it sent its fighters to defend the enclave, and accused Turkey of jeopardizing the anti-ISIS campaign. The SDF said Wednesday that it fired back in self-defense, and "as a result, a Turkish military vehicle was destroyed".
    Fist fight between bus driver and passenger caused deadly crash in Chongqing

    Fist fight between bus driver and passenger caused deadly crash in Chongqing

    Rescue teams said that at least 13 people died, while two remaining passengers are still unaccounted for following the accident. The statement concluded that both the passenger and the driver had broken laws for seriously endangering public safety.
    Student shot at North Carolina high school

    Student shot at North Carolina high school

    Officials said earlier in the day that the Butler High School student had been brought to a hospital in critical condition. The Matthews Police Department said the student was taken to a hospital but couldn't provide information on the injuries.
  • Diablo 3: Eternal Collection on Switch is seemingly getting amiibo support

    Diablo 3: Eternal Collection on Switch is seemingly getting amiibo support

    Diablo Immortal is being developed by Blizzard in collaboration with NetEase, the studio behind PUBG clone Rules of Survival. More classes post-launch are planned, with developers hinting at Diablo 2's Assassin and Diablo 3's Witch Doctor.
    Pompeo says United States  to exempt eight countries from new Iran oil sanctions

    Pompeo says United States to exempt eight countries from new Iran oil sanctions

    But we are prepared to work with countries that are reducing their imports on a case-by-case basis. These sanctions are a pressure tactic to constrain Iran's nuclear programme.
    Kabul attack on election workers kills 1

    Kabul attack on election workers kills 1

    One police officer was killed and six others, including election workers and policemen , were wounded in the blast. Abdul Raziq Achakzai was killed in a Taliban-claimed attack October 18, two days before the election.
  • Hulk Hogan returns to WWE at controversial show in Saudi Arabia

    Hulk Hogan returns to WWE at controversial show in Saudi Arabia

    This will be the second big event for the WWE in Saudi Arabia this year, the first being the Greatest Royal Rumble on April 27. Hogan spoke with the WWE locker room in July before an event and his comments were not widely appreciated.
    3 children killed at school bus stop in Indiana

    3 children killed at school bus stop in Indiana

    The road is expected to be closed for 2-4 hours while police reconstruct and investigate the scene. The school bus was from the Tippecanoe Valley School Corporation.
    Meghan Markle reunites with fan from Instagram

    Meghan Markle reunites with fan from Instagram

    Meghan deleted her Instagram shortly after Kensington Palace announced she and Harry were in relationship. Harry and Meghan arrived in New Zealand on Sunday after earlier visiting Australia, Fiji and Tonga .