No hard cash for Pakistan but multiple bailout packages from China
Economic Issues: China says it will support Pakistanís economy with investment in multiple sectors and joint business ventures instead of direct loans to Islamabad.
These remarks come from Long Dingbin, the Chinese Consul-General (CCG) in Lahore, a month after Prime Minister Imran Khan made his maiden visit to China seeking assistance amid the prevailing financial crunches.
Following Khanís visit, it was reported that Pakistan managed to secure $6 billion in economic aid to avoid unwanted pressure of the International Monetary Fund (IMF) for a new bailout package for the country.
On Nov 3, Finance Minister Asad Umar while briefing the media about the prime ministerís visit to Beijing had categorically stated that Pakistanís balance of payment had crisis resolved as China had agreed in principle to extend an economic relief package.
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