PM’s China visit being closely watched
PM Shehbaz Sharif at the welcoming reception by UN Secretary General for Heads of State/Government participating in the 77th session of UNGA. New York September 20, 2022. PHOTO: Twitter/ PML-N
Prime Minister Shehbaz Sharif’s expected visit to China next month could create problems for Pakistan on the economic front as the international monetary institutions would closely watch it in view of the world undergoing rapid realignment, political and economic experts discussed on Saturday.
The experts, Shahbaz Rana and Kamran Yousaf, who hosts The Express News talk show, The Review, said that the world was witnessing realignment of big powers like China, Russia and the US, and it was obvious who has influence over the global monetary institutions like the IMF and the World Bank, among others.
On Pakistan exiting the FATF’s grey list, they said, Pakistan got relief because it worked really hard.
The hosts said that Pakistan has prepared a new wish list of 18 high-priority projects for the PM’s maiden visit to China scheduled for November 1, saying the economic assistance tops the list.
They said that Pakistan may seek a multibillion-dollar financing window from China to fund 10,000 megawatts solar-powered electricity generation projects, as it is also set to make a new pitch for further expansion of the China-Pakistan Economic Corridor (CPEC) during the visit.
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On Friday, the hosts revealed that PM Shehbaz chaired a meeting to review and finalise the agenda for his maiden visit to Beijing this week, saying Pakistan has a long list of projects, including billions of dollars’ worth new schemes that it wants China to finance.
These include a tripartite agreement between China, Pakistan and Saudi Arabia to set up an oil refinery in Gwadar, they said.
While commenting on Finance Minister Ishaq Dar’s recent visit to Washington, the hosts noted that that Pakistan was hopeful that it would receive some concessions from the IMF and the World Bank after the devastating floods but that didn’t materialise.
Rana revealed that during Pakistani authorities’ recent interaction with the IMF and the WB, the principal lenders have advised Pakistan to stay on course and stick to the programme targets. He said that the finance minister was denied meetings with key officials during his visit on different pretexts.