Pakistani Prime Minister Imran Khan will travel to China next month in a bid to strengthen strategic ties and promote bilateral economic and trade relations. The Pakistan Foreign Ministry Spokesperson Asim Iftikhar during a press conference announced that PM Khan will visit China from February 3 to February 5. This visit to China, which comes after nearly two years, will give both sides the chance to assess the level of bilateral relations and discuss new initiatives, according to Asim Iftikhar.
Imran Khan to seek financial help from China during his tour
Imran Khan is also scheduled to attend the Beijing Winter Olympics’ opening ceremony and meet with Chinese authorities, the foreign ministry spokesperson informed at the media briefing. Aside from these events, media reports indicate that Imran Khan will be enlisted to seek a USD 10 billion loan from China, request payments for trade, and revive the Pak-China Investment Company Ltd. The Pakistani Prime Minister will use his tour to seek financing for social and industrial development in order to demonstrate his accomplishments at home ahead of the country’s forthcoming elections.
Imran Khan’s visit comes at a time when Pakistan’s economy is in the midst of a serious financial crisis. Inflation, currency depreciation, and diminishing foreign exchange reserves are causing Pakistanis to lose faith in the current Pakistan Tehreek-e-Insaf (PTI) government. Furthermore, the PTI is experiencing a credibility crisis as a result of Chinese help in CPEC failing to produce the country’s economic and social transformation as expected. Despite these enormous hurdles, experts predict that even if China guarantees USD 10 billion in further loans, Pakistan’s debt stock and servicing responsibilities will only increase.
