China Pledges Continued Economic Support to Pakistan Amid Reforms

Islamabad: In a reaffirmation of bilateral ties, China has pledged ongoing support for Pakistan’s economic development, as discussed in a recent meeting in Beijing between China’s Finance Minister Lan Fo’an and Pakistani counterparts, Finance Minister Senator Muhammad Aurangzeb and Minister for Energy Sardar Awais Ahmad Khan Laghari.

According to Ministry of Information and Broadcasting, the discussions emphasized the crucial role of financial and banking cooperation within the longstanding strategic partnership between the two nations. Minister Aurangzeb expressed gratitude for China’s steadfast economic support, which has been instrumental in Pakistan’s developmental initiatives.

The meeting also addressed Pakistan’s comprehensive economic reform agenda aimed at enhancing tax revenue, reforming energy sectors and state-owned enterprises, and ensuring sustainable growth. Minister Lan commended Pakistan’s commitment to economic recovery and shared insights from China’s thirty years of structural reforms, suggesting these experiences could serve as a model for Pakistan.

Additionally, the Pakistani delegation met with the President of China Export and Credit Insurance Corp (SINOSURE), where they discussed the impactful role of SINOSURE in Pakistan’s development, particularly through the China-Pakistan Economic Corridor (CPEC). The ministers expressed confidence in SINOSURE’s continued support for both ongoing and new projects under CPEC’s second phase, now increasingly driven by the private sector.

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