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China’s financial package for Pakistan, manifestation of all-weather friendship : Envoy


ISLAMABAD: China’s financial package for Pakistan is a ‘reflection’ all-weather and ever-strengthening bilateral ties, Deputy Chief of Mission (DCM) Chinese Embassy in Pakistan, Lijian Zhao said on Thursday.

He said “Chinese government will not disclose the amount of the financial assistance as presently both countries’ experts are working out its modalities.”
“China has been extending fiscal help to Pakistan in difficult times in past as well , and we will continue with the same spirit in future too,” he added.
The Deputy Chief of Mission said Pakistan and China are enjoying
all-weather and time-tested friendship and hinted at China’s eagerness
for providing financial assistance through various channels to steer Pakistan
out prevailing economic crisis.
He pointed out that China’s central and commercial banks had kept billions
of dollars in the State Bank of Pakistan’s (SBP) reserves for economic stability
in the past. “Anyone can check from the SBP record”, he added.
About the China Pakistan Economic Corridor (CPEC), he said it will be
a win-win situation for both the countries, adding “Pakistan will be more beneficiary
from the CPEC and Chinese companies working here will also get reasonable
profit from it.”
“China invested $19 billion in Pakistan. Out of the total 200,000 jobs created
across the BRI countries, Pakistan got the biggest share as 75,000 jobs were created
only in Pakistan, thus making Pakistan the biggest destination overseas for the
Chinese investment,” he added.
He said, “If we consider the CPEC an airplane, Pakistan is its pilot”. He said China
has no objection to include any other country in the CPEC, as some countries have also
their shares in some projects being carried out under the CPEC. “We want participation
of other countries in the CPEC,” he added.
He said China had made foreign direct investment in projects under the CPEC while
Chinese companies had given loan at very low rates to Pakistan.

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