PM Shehbaz to visit China on Nov 1

Prime Minister Shehbaz Sharif will visit China on November 1 at the invitation of Li Keqiang, Premier of the State Council of the People’s Republic of China.

Foreign Minister Bilawal Bhutto Zardari will also accompany him.

In a statement on Wednesday, the Foreign Office (FO) said that this would be the PM’s first visit to China since assuming office in April 2022 and follows his meeting with President Xi Jinping in Uzbekistan earlier this year in September.

“The PM will be among the first leaders to visit China following the historic 20th National Congress of the Communist Party of China,” the FO said.

He will meet with President Xi Jinping and hold delegation-level talks with Premier Li Keqiang and will also review the All-Weather Strategic Cooperation Partnership and exchange views on regional and global developments.

“The visit is also expected to advance the wide ranging bilateral cooperation agenda with the conclusion of a number of MoUs/Agreements in diverse areas, and consolidate the momentum of CPEC cooperation in the wake of the 11th meeting of the CPEC Joint Cooperation Committee (JCC) on 27th October 2022,” the ministry said.

$10bn may be sought from China during PM’s visit

Earlier, well-informed sources told Business Recorder that Pakistan is likely to seek $ 10 billion financial support from China as additional Balance of Payment (BoP) support, draw China’s unutilized IMF SDRs and refinancing/rollover of commercial loans.

Sources also said the Pakistan government is reportedly finalising drafts of over a dozen pacts including rescheduling of Chinese loans, opening of accounting in RMB and cyber security, to be signed during the PM’s visit.