With eye on aid, Pakistan PM meets Chinese counterpart

With eye on aid, Pakistan PM meets Chinese counterpart

Pakistani Prime Minister Imran Khan and his Chinese counterpart Li Keqiang Saturday, as the South Asian nation seeks to make a financial crisis with aid and investment from the world's second largest economy.

China-Pakistan Economic Corridor (CPEC) – which aims to increase energy and transport links between the western Chinese region of Xinjiang and the Arabian Sea.

The project is at the heart of Chinese President's Xi Jinping's Belt and Road Initiative, an ambitious, globe-spanning trade and infrastructure program.

In the developing world, while others are afraid to pay their debts in debt.

In Beijing, Belt-and-Road-linked projects have come in for heavy criticism for their opaque lending terms, with some arguing that Beijing's largesse may worsen Islamabad's fiscal dilemma.

But both Pakistan and China are down on those concerns Saturday, describing the program as a key part of Islamabad's recovery plans.

In his meeting with Li, Khan invited the Chinese premier to visit The mega-project has made the difference in the country.

"CPEC in 2013 was just an idea. Now it's on the ground." And he has caught the imagination of the people of Pakistan, "he said.

"It gives us an opportunity to raise our standard of living, growth rate."

Li praised the relationship, saying "China and Pakistan are all-weather partners."

"Pakistan has always been regarded as a foreign policy priority by China."

– 'Low point' –

Following their talks, the two leaders oversaw the signing of CPEC, while ensuring the smooth operation of completed projects, and advising the ongoing projects. "

Officials provided only a general list of the agreements, which appeared to be political, rather than economic.

Asked about future cooperation on infrastructure, Kong said "there's no change in the number of CPEC projects," adding that "if there were any change, it would be an increase going forward."

"CPEC wants to introduce more areas of Pakistan and wants to tilt in favor of people's lives."

Xi Jinping on Friday, where the former cricket star bemoaned his country's financial woes, saying the economy was at a "low point".

Since taking power in August, Khan has promised $ 6 billion in funding.

His Government has also entered into talks with the International Monetary Fund on a potential bailout as it grapples with a balance of payment crisis and current account deficit.

Pakistan has gone to the IMF since the late 1980s.

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

Pakistani Prime Minister Imran Khan and Chinese Premier Li Keqiang attend a signing ceremony at the Great Hall of the People in Beijing

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