Imran Khan meets China's Premier as Pak seeks more loans
Key Takeaways:
- On Saturday, Pakistani Prime Minister Imran Khan met with Chinese Premier Li Keqiang and senior executives from state-owned and private companies in China.
- Khan is in China for a four-day visit to watch the Beijing Winter Olympics opening ceremony and meet with Chinese political and business leaders.
Amid Islamabad's struggle to overcome financial challenges, Pakistan Prime Minister Imran Khan met with Chinese Premier Li Keqiang and the senior leadership of state-owned and private companies in China on Saturday.
According to Pakistan's Prime Minister's Office, Imran Khan has assured Chinese businesses that he will continue to support them as they expand their footprints in the country. Khan was accompanied to the meetings by members of his cabinet and senior officials.
In a tweet, the Prime Minister stated, "Appreciating the interests of Chinese companies in improving business ties with Pakistan, the PM highlighted that the Pakistani government had offered many incentives to foreign enterprises, particularly from China, for investment in Pakistan. Special Economic Zones."
Khan is in China for a four-day visit to attend the Beijing Winter Olympics opening ceremony and meet with Chinese political and business leaders. On Friday, he signed a new agreement with China to begin the 2nd phase of the China-Pakistan Economic Corridor (CPEC), a contentious project that runs through Pakistan-controlled Kashmir (PoK).
Pakistan's Prime Minister met with executives from China Energy Engineering Corporation (CEEC), China State Construction Engineering Corporation (CSCEC), Power China, East Sea Group, China Railway Group Limited (CREC), China Metallurgical Group Corporation (MCC), Beijing Century Industrial Development Co. Ltd (CENTINCO), and the CHINAMEX Group on Saturday.
He was informed on the status of ongoing Chinese projects and future investment strategies in the fields of energy, petrochemicals, refining, infrastructure development, water management, ICT, and housing.
Pakistan is attempting to alleviate its financial burden by obtaining additional loans from Beijing to stabilize its dwindling foreign exchange reserves.
According to The Express Tribune, the Imran Khan government is considering requesting that China approve $3 billion in SAFE deposits with China's State Administration of Foreign Exchange.