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Pakistani delegation leaves for China to finalize relief package
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IANS | 08 Nov, 2018
A high-level delegation from Pakistan left for China on Thursday to
finalize a potential economic package to inject into the cash-strapped
country, in a follow-up to Prime Minister Imran Khan's five-day visit to
Beijing, the media reported.
The delegation included the
Secretaries of finance, trade and planning as well as the Governor of
the State Bank of Pakistan, according to Geo News.
The delegation
will hold talks with Chinese officials to finalize the relief package
following Khan's visit to China last week to seek loans to tide over
Pakistan's economic crisis.
Discussions will also be held pertaining to Pakistan-made products' access to the Chinese markets, Geo cited sources as saying.
Finance
Minister Asad Umar earlier this week confirmed that talks were held
with China for a relief package during the Prime Minister's visit and
that the two sides agreed on continuing discussions in this regard.
He
said that the talks were not limited to a financial package, but also
encompassed long-term partnership and investment with China.
Umar
said that national security will not be compromised in any deal with
the International Monetary Fund (IMF) despite the country's economic
crisis.
The body had earlier said that a bailout deal with
Pakistan would require "absolute transparency" of its debts, many of
which come from China's landmark Belt and Road Initiative.
An IMF delegation is currently in Pakistan for two weeks and Umar said a bailout of at least $5-6 billion would be negotiated.
The
Minister said that Pakistan was going to friendly countries including
Saudi Arabia and China for financial assistance to ensure "that if the
IMF presents terms of agreement for a bailout package that are not
amenable to us, the country will not have to compromise".
Calling the IMF a "lender of the last resort", he added that going to the IMF was not a desirable option.
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