Foreign secretary dashes to China as economic woes swell

Islamabad: Pakistan’s Foreign Secretary… Dr. Asad Majeed Khan He arrived in China on Thursday and is expected to hold talks with his Chinese counterpart on strengthening the bilateral strategic partnership between the two countries. News reported on Friday.

According to the sources, the Foreign Secretary will also hold meetings with the Chinese officials in which Pakistan’s financial problems will also be discussed in addition to other issues of mutual interest.

Sources said the foreign secretary is expected to meet Chinese foreign minister Qin Gang on Friday to discuss ways to further strengthen bilateral ties.

Apart from this, there will also be political talks between Pakistan and China which will be jointly chaired by Dr. Khan and China’s Vice Foreign Minister Sun Weidong.

As Pakistan’s economic woes deepen, the country needs urgent economic assistance to avoid financial ruin. As mentioned earlier, a The Chinese bank had given the assurance. Pakistan is providing another $500 million loan in the next few days.

Total Chinese debt will go up to $1.7 billion out of a total committed amount of $2 billion.

It was one of the conditions of the International Monetary Fund (IMF) that Pakistan would have to secure the refinancing of commercial loans as well as the rollover program on deposits from China, which expires in June 2023. It is Wally.

Speaking to the official broadcaster on Thursday. China Global Television Network (CGTN) Foreign Minister Bilawal Bhutto Zardari He also said that he will attend the upcoming Belt and Road Initiative (BRI) summit scheduled to be held in the fall.

Bilawal had said that of course we will do it. [participate in the BRI summit]. Pakistan has a China-Pakistan Economic Corridor that has grown tremendously over time, and I look forward to attending such summits and being able to share with the world what we have achieved so far. Here is what we intend to achieve going forward together. “