Thursday, 15 November, 2018

Pakistani delegation leaves for China to finalise relief package

Pakistan's Imran Khan caught in 'begging' broadcast error in China MD PTV Sacked over 20 Seconds Mistake
Faye Gross | 09 November, 2018, 18:51

The cash-strapped Pakistani government is facing grave economic challenges as it struggles to avoid a financial crisis and keep the economy afloat.

"We decided that our strategic dialogue must be upgraded and its level be raised to the FM level", he said.

Addressing a joint press conference with Foreign Minister Shah Mehmood Qureshi, he said, "Pakistan had a $12 billion deficit in the balance of payment and Saudi Arabia pledged $6 billion while some assistance came from China".

The Pakistan Tehreek-e-Insaf government has ordered for immediate removal of Arshad Khan from the post of Managing Director (MD) of Pakistan Television Corporation (PTV) after the state-run news channel was involved in a major goof-up during Prime Minister Imran Khan's recent visit to China.

"Pakistan is China's all weather partner".

"I want to make that clear in unequivocal terms".

Discussions will also be held pertaining to Pakistan-made products' access to the Chinese markets, the sources said.

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Prime Minister Imran Khan will leave for Malaysia on a three-day visit in the third week of November, sources told ARY News on Thursday.

Officials said that Pakistan may still seek a financial package from IMF to back up the reserves and enter the worldwide bond market. "This perception has been proven wrong because our relationship with China has improved a lot", he said, adding that PM Khan's visit helped transform the relationship into an economic friendship.

Umar's comments of China's assistance came in the backdrop of criticism in the Pakistan media that Khan has returned home empty handed without securing firm commitment from Beijing as it remained circumspect due his past criticism of projects of China Pakistan Economic Corridor (CPEC), an ambitious project of President Xi.

Now, with the PM going from one country to another negotiating bailout packages and even having to contend with the International Monetary Fund, the mistake by the state-run television has become all the more conspicuous. "In the future, in the light of Pakistan's need and as per our mutual agreement, we will continue to offer help economically and for betterment of people's livelihoods", she said.

Khan added that peace in Yemen is vital for regional stability.

Before his visit to China, Umar had said that at present Pakistan faced a total of $27 billion deficit which included $9 billion debt repayment this year.

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