Pakistan likely to get huge economic package from China: Fawad Chaudhry

Pakistan likely to get huge economic package from China: Fawad Chaudhry

China promised to support Pakistan's economy on Friday as new Pakistani Prime Minister Imran Khan told of his country's "very difficult" economic situation amid a burgeoning financial crisis.

Xi said the bilateral ties always stay vigorous and continue developing regardless of the changes in worldwide situations or the two countries' domestic affairs.

"The nation will receive a good news soon", he said, adding that the economic package will help alleviate Pakistan's fiscal crisis.

India Wednesday said it has lodged strong protests with China and Pakistan over the proposed bus service between the two countries through Pakistan-administered Kashmir (PaK) under the China-Pakistan Economic Corridor (CPEC) project.

The last time was in 2013, when Islamabad got a $6.6 billion loan to tackle a similar crisis.

Khan's first visit to China since taking office in August comes after Pakistan secured a $6 billion support package from Saudi Arabia last month and requested aid from the International Monetary Fund.

During his visit to Saudi Arabia last month, Riyadh committed United States dollars 6 billion funding which included USD 3 billion deferred payment for oil imports.

In the meeting, the two sides discussed strengthening of bilateral relations and matters of mutual regional and global interests, including the China-Pakistan Economic Corridor (CPEC) project.

As an opposition politician, the former cricket star had questioned whether the partnership with China benefited Pakistan and promised the contracts would be made public.

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

Xi assured Khan that China considers its relations with Pakistan a diplomatic priority.

A report by China's state broadcaster CCTV said Xi was joined in the meeting by Politburo member Yang Jiechi and Foreign Minister Wang Yi.

"I think that it's in China's best long-term interest to be able to show some flexibility and be able to cancel some projects that fail, frankly", Hillman said.

The premier is accompanied by Bakhtiar, Foreign Minister Shah Mahmood Qureshi, Finance Minister Asad Umar, Railways Minister Sheikh Rashid Ahmed, Adviser to the Prime Minister on Commerce, Industry and Investment Abdul Razzak Dawood, and Chief Minister of Balochistan Jam Mir Kamal on his trip to China.

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

"Basically, aside from the contracts that have been agreed and the projects that are moving ahead on the ground, which is the $19 billion worth, everything else is up for grabs as far as they (China) are concerned", Small said.

Bus service between the Xinjiang Uyghur Autonomous Region in China's west and the city of Lahore of Pakistan's Punjab province is set to be launched on November 3.

Xi said the two sides should deepen strategic communication, maintain regular visits and meetings between the two countries' leaders and enhance experience-sharing in the governance of a country.

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