China to help Pakistan maintain financial stability

Will continue to support improvement in people’s livelihood

BEIJING:

China will continue to support Pakistan in developing its economy, improving people’s livelihood and maintaining financial stability, said Chinese Foreign Ministry spokesperson
Zhao Lijian.

“China and Pakistan are all-weather strategic partners. China always supports Pakistan in developing its economy, improving people’s livelihood and maintaining financial stability,” Zhao said on Wednesday during his regular briefing at the International Press
Centre (IPC).

Federal Minister for Finance and Revenue Miftah Ismail announced on Friday last week that a Chinese consortium loan of RMB 15 billion ($2.3 billion) had been credited into the State Bank of Pakistan’s
(SBP) account.

The Chinese loan would help increase Pakistan’s foreign exchange reserves,
he said.

Zhao said that the Chinese side was willing to continue to work with Pakistan in the wake of the consensus reached by their leaders, deepen practical cooperation in various fields including finance, address risks and challenges and build a closer China-Pakistan community with shared future in
the new era.

Responding to a question about the safety of Chinese citizens and assets, the spokesperson said that the relevant functional departments of China and Pakistan, Pakistani government, Chinese embassy and consulate in Pakistan had been maintaining close communication and coordination on the protection of Chinese institutions and personnel
in Pakistan.

“We have noticed that the Pakistani government has set up a special security force to protect the Chinese personnel participating in the China-Pakistan Economic Corridor and inter-governmental cooperation projects,” he said.

Published in The Express Tribune, June 30^th, 2022.

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