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Pakistani Prime Minister Imran Khan met his Chinese counterpart Li Keqiang on Saturday in Beijing, as he sought help and investment from the world's second largest economy in the hope of Avoid a financial crisis.
Before traveling to China – one of Pakistan's firmest allies -, Mr Khan said he was striving to obtain financial aid from two unnamed countries after Pakistan had secured $ 6 billion in funding from Saudi Arabia.
His government has also begun talks with the International Monetary Fund about a possible bailout plan while facing a balance of payments crisis and a current account deficit.
China is already a major investor in Pakistan, where the two countries are building the Sino-Pakistan Economic Corridor (CPEC), a multi-billion dollar project at the heart of the President and President's Belt and Road Initiative Xi Jinping, an ambitious program covering commercial infrastructure.
The corridor aims to increase energy and transportation links between the Xinjiang region in western China and the Arabian Sea via Pakistan.
However, given the deterioration of Pakistan's finances, fears have been expressed in recent months as to the need to reduce parts of the agreement.
During his meeting with Li, Mr. Khan invited the Chinese Prime Minister to visit Pakistan and see for himself the difference that the megaproject brought to the country.
"The CPEC in 2013 was only an idea, now it is on the ground and it has drawn the imagination of the people of Pakistan," he said.
"We believe that it is an excellent opportunity for our country to move forward and attract investment, which also allows us to improve our standard of living and our rate of return. growth. "
Li praised the relationship and said "China and Pakistan are all-weather partners".
"Pakistan has always been considered a priority of foreign policy by China."
The meeting follows talks with President Xi Jinping on Friday, during which the former cricket star lamented his country's financial difficulties, saying the economy was "at a low point".
Since taking office in August, Khan has been demanding loans to "friend" countries like Saudi Arabia, pledged to recover funds stolen by corrupt officials, and embarked on a series of measures. of populist austerity aimed at raising funds.
Pakistan has visited the IMF several times since the late 1980s.
The last time it was in 2013, when Islamabad got a $ 6.6 billion loan to deal with a similar crisis.
Pakistani Prime Minister Imran Khan and Chinese Premier Li Keqiang attend a signing ceremony at the Great Hall of the People in Beijing
