Upcoming visit of PM Shahbaz Sharif to China will be a great success: Chinese Ambassador

Islamabad: Ambassador of China to Pakistan Nong Rong has said that the upcoming visit of Pakistani Prime Minister Shahbaz Sharif to China will be a great success.

In a meeting with Federal minister for power Engineer Khurram Dastgir Khan here, the Ambassador appreciated the present government for their commitment towards the China-Pakistan Economic Corridor (CPEC).

He remarked that the Chinese government was looking forward to Prime Minister Shahbaz Sharif’s visit to China which “will be a great success.”

During the meeting, Khurram Dastgir Khan appreciated the continuous engagement of China in energy sector with Pakistan.

He maintained that the Chinese projects under CPEC had given the much needed boast to power sector back in 2014 and also now when Pakistan’s energy needs have been very high.

“Pakistan government is committed to honor the agreements and speed up CPEC projects,” he added.

The minister remarked that Pakistan’s future energy landscape will revolve around indigenous and renewable sources.

“Thar coal project is of tremendous importance for Pakistan’s future energy needs. In this regard, Pakistan is thankful for Chinese friends,” he mentioned.

PM Shehbaz Sharif is preparing for a visit to China in the coming days. The PM is expected to seek relaxation in the payment of Chinese debt after the decision that the country would not go to the Paris Club for rescheduling its US $ 27 billion debt.

The Paris Club is a group of officials from major creditor nations whose role is to find coordinated and sustainable solutions to the payment difficulties experienced by debtor countries. Pakistan owes Paris Club countries a combined sum of around US $ 10.7 billion.

According to the International Monetary Fund (IMF), Pakistan’s total non-Paris Club bilateral debt currently stands at about US $ 27 billion, of which Chinese debt is about US $ 23 billion.

Finance Minister Ishaq Dar said that Pakistan needed around US $ 34 billion during the current year to pay off debts and meet the current account deficit.

China has historically come to Pakistan’s rescue with economic, political, and military assistance and the leadership of the two countries has often described their ties as “all-weather.”