AGL 5.77 Increased By ▲ 0.02 (0.35%)
ANL 9.00 Increased By ▲ 0.15 (1.69%)
AVN 79.78 Increased By ▲ 0.28 (0.35%)
BOP 5.22 Increased By ▲ 0.05 (0.97%)
CNERGY 4.75 Increased By ▲ 0.06 (1.28%)
EFERT 81.70 Increased By ▲ 0.60 (0.74%)
EPCL 51.00 Increased By ▲ 0.01 (0.02%)
FCCL 13.40 Decreased By ▼ -0.09 (-0.67%)
FFL 5.82 Increased By ▲ 0.01 (0.17%)
FLYNG 7.22 Increased By ▲ 0.01 (0.14%)
FNEL 4.75 Decreased By ▼ -0.05 (-1.04%)
GGGL 8.92 Increased By ▲ 0.22 (2.53%)
GGL 16.15 Increased By ▲ 0.40 (2.54%)
HUMNL 5.89 Increased By ▲ 0.04 (0.68%)
KEL 2.61 Increased By ▲ 0.03 (1.16%)
LOTCHEM 29.50 No Change ▼ 0.00 (0%)
MLCF 25.40 Increased By ▲ 0.10 (0.4%)
OGDC 73.01 Increased By ▲ 0.56 (0.77%)
PAEL 15.50 Increased By ▲ 0.10 (0.65%)
PIBTL 5.15 No Change ▼ 0.00 (0%)
PRL 16.52 Increased By ▲ 0.27 (1.66%)
SILK 1.07 No Change ▼ 0.00 (0%)
TELE 9.60 Increased By ▲ 0.30 (3.23%)
TPL 7.41 Increased By ▲ 0.06 (0.82%)
TPLP 19.32 Increased By ▲ 0.16 (0.84%)
TREET 22.10 Increased By ▲ 0.25 (1.14%)
TRG 143.90 Increased By ▲ 1.10 (0.77%)
UNITY 17.24 Increased By ▲ 0.04 (0.23%)
WAVES 10.15 Increased By ▲ 0.12 (1.2%)
WTL 1.43 Increased By ▲ 0.05 (3.62%)
BR100 4,288 Increased By 40.7 (0.96%)
BR30 15,871 Increased By 109.9 (0.7%)
KSE100 42,644 Increased By 295.1 (0.7%)
KSE30 15,774 Increased By 141.9 (0.91%)
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

Ban on GMO soyabean: govt, importers take divergent positions

Finance Bill 2023: SEZs: FBR to withdraw turnover tax exemption

Country has ‘sufficient’ wheat, cabinet told

Rates of kerosene oil, light diesel dip

FCA for Oct 2022: Nepra to allow KE negative adjustment of Rs2.15/unit

Encashment of SBLC: Resolve Hubco-CPHGC dispute, PM asks authorities concerned

Delay in import of spare parts: Haveli Bahadur Shah power plant faces closure

Media campaigns: ECC approves Rs2bn TSG against Rs5bn demand

Four killed as suicide bomber attacks police guarding polio vaccination team

East Timor opens new port in largest ever foreign investment