China rejects reports of Pakistan asking for financial assistance

By APP
Published: July 11, 2018
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Foreign ministry spokesperson says Islamabad will devise strategy to get out of difficult situation. PHOTO: REUTERS

Foreign ministry spokesperson says Islamabad will devise strategy to get out of difficult situation. PHOTO: REUTERS

BEIJING: A spokesperson of the Chinese foreign ministry has rejected media reports that Pakistan had asked Beijing for financial assistance amid its shortage of foreign currency reserves and increasing debt.

The official said she believed that the Pakistani government would devise a strategy to come out of the situation.

“Reports by the western media in this regard are totally false,” said spokesperson Hua Chunying during her regular press briefing on Wednesday.

“We believe Pakistan will try to evolve an economic strategy against all odds,” she said, when asked to comment if Pakistan could ask for help from the International Monetary Fund (IMF) if it was not able to receive assistance from China.

China lends $1 billion to Pakistan

Responding to a question on whether the current financial situation could affect the completion of projects under the China-Pakistan Economic Corridor (CPEC), Hua said, in fact, Caretaker Finance Minister Dr Shamshad Akhtar has already clarified the matter, stressing Pakistan will continue the construction work.

The spokesperson said in recent years, CPEC has played a positive role in helping Pakistan achieve high economic growth and development. Hua said the CPEC framework is supported by the people and government of Pakistan. “We believe this will not be interrupted by other factors.”

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