AVN 67.75 Decreased By ▼ -0.73 (-1.07%)
BAFL 30.82 Decreased By ▼ -0.18 (-0.58%)
BOP 4.84 Decreased By ▼ -0.07 (-1.43%)
CNERGY 3.75 No Change ▼ 0.00 (0%)
DFML 14.05 Decreased By ▼ -0.18 (-1.26%)
DGKC 41.04 Decreased By ▼ -0.60 (-1.44%)
EPCL 47.21 Increased By ▲ 1.84 (4.06%)
FCCL 11.58 Decreased By ▼ -0.13 (-1.11%)
FFL 5.11 Increased By ▲ 0.01 (0.2%)
FLYNG 5.95 Increased By ▲ 0.10 (1.71%)
GGL 11.17 Increased By ▲ 0.76 (7.3%)
HUBC 67.68 Decreased By ▼ -0.82 (-1.2%)
HUMNL 5.71 Decreased By ▼ -0.04 (-0.7%)
KAPCO 28.03 Decreased By ▼ -0.19 (-0.67%)
KEL 2.28 Increased By ▲ 0.02 (0.88%)
LOTCHEM 26.25 Increased By ▲ 1.15 (4.58%)
MLCF 21.58 No Change ▼ 0.00 (0%)
NETSOL 86.53 Decreased By ▼ -1.82 (-2.06%)
OGDC 99.78 Increased By ▲ 0.48 (0.48%)
PAEL 11.08 Decreased By ▼ -0.03 (-0.27%)
PIBTL 4.23 No Change ▼ 0.00 (0%)
PPL 80.05 Decreased By ▼ -2.40 (-2.91%)
PRL 13.26 Decreased By ▼ -0.08 (-0.6%)
SILK 0.90 No Change ▼ 0.00 (0%)
SNGP 43.75 Decreased By ▼ -0.63 (-1.42%)
TELE 6.08 Decreased By ▼ -0.10 (-1.62%)
TPLP 15.88 Increased By ▲ 0.07 (0.44%)
TRG 121.33 Increased By ▲ 1.58 (1.32%)
UNITY 14.04 Decreased By ▼ -0.06 (-0.43%)
WTL 1.31 Increased By ▲ 0.05 (3.97%)
BR100 4,181 Increased By 9.7 (0.23%)
BR30 15,270 Increased By 16.5 (0.11%)
KSE100 41,723 Increased By 200.6 (0.48%)
KSE30 15,746 Increased By 83 (0.53%)
Follow us

BEIJING: Chinese Ambassador to Pakistan Nong Rong has asserted that China has so far pledged over $90 million in assistance to Pakistan after the devastating floods triggered by heavy monsoon rains.

In a videotaped address released on Twitter, the Chinese ambassador reaffirmed his government’s continued support to Islamabad to help flood-affected people.

“China is the most reliable iron brother of Pakistan. Since the devastating floods occurred in Pakistan, among all countries, China has announced the biggest amount of assistance to Pakistan,” Nong Rong said.

The envoy noted, “The total amount of assistance has exceeded RMB 644 million (around $90 million)”, adding that the assistance comes from the Chinese government, the Communist Party of China, the Chinese army, and the Red Cross. Society of China and sister provinces and cities, Chinese enterprises and individuals.

“Instead of finger-pointing against China-Pakistan cooperation, some country better do real and beneficial things for the people of Pakistan,” he added.

Meanwhile, Chinese Foreign Ministry spokesperson Wang Wenbin, while responding to the debt relief appeal by the US Secretary of State said that the Chinese government has provided RMB 400 million worth of humanitarian assistance and China’s civil society has also lent a helping hand.

Chinese firm donates $250,000 for flood-hit people of Balochistan

The spokesman noted, “China and Pakistan have had fruitful economic and financial cooperation. The Pakistani people know it best,” adding: “Instead of passing unwarranted criticism against Beijing-Islamabad cooperation, the US might as well do something real and beneficial for the people of Pakistan.”

A day earlier, Washington rolled over an agreement to suspend service payments on $132 million of Islamabad’s debt, the US embassy said, as the country faces an economic crisis exacerbated by devastating floods.

Pakistan’s economy is facing a balance of payments crisis, a widening current account deficit, a slide in its currency to historic lows, and inflation crossing 27 percent.

Devastating floods meanwhile engulfed large swathes of the country in late August, killing more than 1,500 people and causing damage estimated at $30 billion, fanning fears that Pakistan would not meet its debt obligations.

It is pertinent to mention here that US Secretary of State Antony Blinken urged Pakistan to seek debt relief and restructuring from China, its single-largest creditor after the country has seen widespread flood-induced devastation.

Comments

Comments are closed.

China pledges over $90m for flood-hit Pakistan

Rupee up 1.08%, settles at 273.33 against US dollar

OGRA calls for action against hoarders of petrol, diesel in Punjab

Fed's Waller sees no sign of 'quick' decline in inflation

KSE-100 increases 0.48% owing to hopes of breakthrough in talks with IMF

ECP should announce election schedule for KP, Punjab: President Alvi

Holding polls in Punjab can be difficult as operation against militants underway, IG tells ECP

Amir Dogar among 12 PTI workers arrested in Multan

Turkish bourse shut for 5 days after quake, Wed trades cancelled

More survivors found as Turkiye-Syria quake toll tops 11,200

Google to soon add generative AI features in search results