PM Imran arrives in China on four-day visit

Prime Minister Imran Khan on Thursday reached China for a four-day visit to attend the opening ceremony of the Winter Olympic Games at the special invitation of the Chinese leadership.

PM Imran was received by Assistant Foreign Minister of China H.E Mr Wu Jianghao upon reaching Beijing, the Prime Minister's Office (PMO) said in a Twitter post.

The prime minister had left for China with Foreign Minister Shah Mahmood Qureshi, Finance Minister Shaukat Tarin, and Minister for Planning and Development Asad Umar, Minister for Information and Broadcasting Fawad Chaudhry, National Security Advisor Dr Moeed Yusuf, Advisor on Commerce Abdul Razzaq Dawood, and Special Assistant on China-Pakistan Economic Corridor Khalid Mansoor.

PM fine-tunes his China visit agenda

During the visit, the PM will hold bilateral meetings with Chinese President Xi Jinping and Chinese Premier Li Keqiang and will review the entire gamut of bilateral relations, with a particular focus on stronger trade and economic cooperation including the China-Pakistan Economic Corridor (CPEC).

While in Beijing, the PM would also meet prominent business leaders of China and representatives of leading Chinese think-tanks, academia and the media. He will also have other bilateral interactions on the sidelines.

During the prime minister's visit, Pakistan is set to float proposals to the Chinese government for renegotiation on contracts of power projects established under CPEC on the pattern of other IPPs or to purchase 1200-MW electricity from Pakistan for onward supply to Afghanistan, well-informed sources in CPEC Authority told Business Recorder.

Special Assistant to Prime Minister on CPEC Khalid Mansoor has finalised all the proposals with respect to issues of CPEC projects, their resolution mechanism, and future cooperation in different sectors.

CPEC-IPPs contracts: Pakistan seeks renegotiation with China

According to CPEC Authority, over-dues/receivables of CPEC IPPs are now Rs 200 billion, and IPPs may default because of rising prices of coal in the international market. IPPs may also suspend the operations of power plants as per suspension clauses of the signed Power Purchase Agreements (PPAs).

“Prime Minister will draw the attention of Chinese top brass to the exceptional rise in capacity payments because of near-simultaneous arrival of new capacity from projects undertaken under CPEC,” the sources added.

Prior to departure, the premier held consultations with industrialists and businessmen to discuss the visit. The prime minister during the meeting said on Wednesday that the government was pursuing a long-term policy to promote industries and to increase exports and it was important to consult with the business community before visiting China.

Earlier, Foreign Minister Shah Mahmood Qureshi said the Prime Minister's visit to China will help promote high-level exchanges and expand bilateral relations in diverse sectors.