China vows to assist Pakistan in stabilising financial situation

Amid the ongoing financing crisis being faced by Pakistan, China — an all-weather friend — once again came to rescue the cash-strapped nation as the former’s Vice-Premier Zhang Guoqing on Friday underlined that Beijing would assist Islamabad in stabilising its financial situation.

Guoqing made the remarks during a meeting with Foreign Minister Ishaq Dar on the sidelines of the First Nuclear Energy Summit in Brussels.

During the huddle, both sides agreed on the importance of the longstanding cooperation between Pakistan and China in civil nuclear technology.

China’s vice premier and the finance minister noted with appreciation the traditional “Pakistan-China All-Weather Strategic Cooperative Partnership” and iron-clad friendship as an exemplary and unique relationship.

FM Dar reiterated Pakistan’s longstanding support for the One-China policy. He underscored that there was an absolute consensus in Pakistan on relations with China and Pakistan’s strong commitment to the second phase of the China-Pakistan Economic Corridor (CPEC).

He expressed China’s readiness to upgrade CPEC and to further strengthen cooperation in diverse fields including industry, mining, and information technology.

In view of the worsening economic situation of the country Prime Minister Shehbaz Sharif on Thursday had said: “We cannot survive without a new IMF agreement which will span two to three years.”

"New tranche of loan is likely to be received from the IMF in a few days, however, we would need another programme," he had said while addressing the session of the Special Investment Facilitation Council's (SIFC) apex committee attended by civil-military leadership.