China set to give $6b to Pakistan as PM Khan meets President Xi Jinping

China on Friday reportedly agreed to provide $6 billion in aid to Pakistan, which is going through a “low point”, to minimise the cash-strapped country’s dependence on an IMF bailout package as Prime Minister Imran Khan held talks with Chinese President Xi Jinping.

The meeting between the heads of the states took place at the Great Hall of the People in Beijing’s Tiananmen Square. High-level delegations from both the sides were also in attendance.

The two sides discussed strengthening of bilateral relations and matters of mutual regional and international interests, including the China-Pakistan Economic Corridor (CPEC) project. They also reviewed all the aspects of Pakistan-China strategic partnership.

Prime Minister Imran Khan thanked President Xi Jinping for extending warm hospitality to him upon arrival.

Praising Chinese progress, PM Imran said President Xi’s vision and leadership are exemplary and China’s phenomenal achievements are worth emulating. He further said he had come to China to learn.

“My party has only been in power for two months. Unfortunately we have inherited a very difficult economic situation,” PM Imran said, as quoted by Reuters.

“Countries go in cycles. They have their high points, they have their low points. Unfortunately, our country is going through a low point at the moment with two very big deficits, a fiscal deficit and a current account deficit. And so we, as I’ve said, have come to learn.”

President Xi told the Pakistani premier that he highly valued the two countries’ relations, reaffirming they were “all-weather” friends.

“I attach great importance to Sino-Pakistan relations and am willing to work together with the prime minister to strengthen the China-Pakistan all-weather strategic partnership and build a new era of China-Pakistan destiny,” Xi said.

During the meeting, PM Imran extended an invitation to President Xi to visit Pakistan.

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