Live Markets »News & Advice»Market News»Market News Details
Market News Details
Back

China shies away from revealing if it offered loan to Pak after Imran visit

IANS/Beijing 07 Nov 18 | 04:04 PM

File photo of Pakistani Prime Minister Imran Khan. Photo: Reuters 

China on Wednesday didn't reveal if it offered any financial aid to Pakistan after its Prime Minister Imran Khan wrapped up his visit, meant to seek fresh Chinese loans to tide over the country's economic crisis.  

Related Stories

    No Related Stories Found
Widgets Magazine

A day after Khan's four-day China visit ended, Pakistan's Finance Minister Asad Umar said that Beijing has offered $6 billion loans Islamabad to resolve country's economic crisis.

"We had told you about the $12 billion financing gap, of which $6 billion have come from Saudi Arabia, and the rest has come from China. So the immediate balance of payments crisis of Pakistan has ended. I want to make that clear in unequivocal terms that we do not have any balance of payments crisis now," said Umar, who accompanied Khan to China.

The Chinese Foreign Ministry did not give a clear answer when asked about it.

ALSO READ: More talks required to fix details on aid to Pakistan, says China

"Pakistan is China's all-weather partners. We enjoy a very good relationship. A relationship that has been operating at a high level and we have been offering our assistance to Pakistan in the best of our capacity." Ministry spokesperson Hua Chunying said.

"In the light of Pakistan's need in future as per the mutual agreement, we will continue to help economically and in other sectors," Hua added. 

ALSO READ: China assures 'necessary support' to Pakistan to overcome economic crisis

During Khan's visit, China said it would do its best to help its ally Pakistan "tide over" financial difficulties.

Pakistan's is in a deep economic mess with ever increasing foreign debt. Khan had made the visit to seek fresh Chinese loans after he secured $6 billion from Saudi Arabia. 

ALSO READ: China to provide $6 bn in aid to Pakistan as PM Khan meets President Xi 

Hua said that China was satisfied with Khan's visit during which the two countries agreed to deepen their ties and to complete the China Pakistan Economic Corridor (CPEC) with a stronger commitment. 

Widgets Magazine

Sensex

Company Price Gain (%)
Bharti Airtel333.609.81
Reliance Inds.1,127.502.79
H D F C1,887.551.91
St Bk of India290.301.75
Hero Motocorp2,954.551.28

Poll

Currently No Poll Available.

Online Portfolio

You can create Online Portfolio here using the below button.

Widgets Magazine