Pledges of cooperation

Pakistan seeks a $7 billion IMF deal while strengthening ties with China and Turkey for economic revival.

As Pakistan inches towards a forma deal with the IMF, hoping to grab a lifeline tranche of $7 billion to stay afloat, it has also proactively engaged with friendly states to put the house in order. A reaffirmation from China to work closely with Pakistan and to see CPEC come full circle is another promising development. In a letter of felicitation, Chinese President Xi Jinping vowed to work for a shared future, irrespective of the ensuing upheavals in the region and changing international scenarios. A similar sentiment was echoed as Turkish President Recep Tayyip Erdogan, while meeting Prime Minister Shehbaz Sharif on the sidelines of 79th UN General Assembly session, agreed to further strengthen mutually beneficial cooperation between their countries in various areas, including trade and security.

Such gestures simply go on to establish the indispensable geo-strategic importance of Pakistan. That also underscores the appreciation that Pakistan's strategic friends have for the efforts that are being done to pull the country out of economic stagnation. It is hoped that China and Turkey, along with Saudi Arabia and the UAE, will go an extra mile to rejuvenate Pakistan's economy and repose their trust for investing in the country. The optimism with which preparations are underway for the upcoming 7th session of the Pakistan-Turkiye High-Level Strategic Cooperation Council to be held in Islamabad soon is a case in point, in addition to fresh assurances from Riyadh to explore the potential of minerals in Balochistan and to set up an oil refinery in Gwadar.

Pakistan is in need of a new deal from the world at large to help it come out of the woods, and continue to play its positive role for regional peace and security. It has been Islamabad's endeavour to usher in peace in Afghanistan so that the bounties of geo-economics are shared by all and sundry. Striking a working relationship with India too is part of its stated policy, and is in need of prompt reciprocation from Delhi. One hopes the upcoming SCO Summit in Islamabad, and the renewed pledges of cooperation will help it broker new vistas of amalgamation in the region and beyond.