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ISLAMABAD: Chinese Ambassador Jiang Zaidong called on Finance Minister Muhammad Aurangzeb to discuss key matters pertaining to economic cooperation and bilateral relations between Pakistan and China, at the Finance Division, Tuesday, said a press release.

The ambassador of China extended felicitations to Aurangzeb upon his appointment as federal minister for finance and revenue and expressed confidence towards further strengthening of economic ties between the two countries.

The Minister for Finance expressed gratitude towards the Chinese leadership for their invaluable support to Pakistan in various sectors, particularly highlighting the roll-over of SAFE deposits and the refinancing of commercial loans, which have significantly contributed to Pakistan’s economic stability.

Muhammad Aurangzeb takes over as finance minister as speculation ends

He further emphasized the paramount importance of the China-Pakistan Economic Corridor (CPEC) in Pakistan’s growth strategy and overall economic recovery.

Both sides agreed to advance their collaboration in various sectors, including industrial zones, agriculture, mineral and mining, as well as renewable energy. It was discussed that the next phase of CPEC would focus on monetisation of gains made during the first phase.

Concluding the meeting, both sides reiterated the desire to collaborate closely to further deepen and enhance the economic relationship between the two countries, reflecting the strong bonds of friendship and cooperation that exist between Pakistan and China.

Copyright Business Recorder, 2024

Comments

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kashif Mar 20, 2024 09:09am
cpec has just drowned pakistan in debt with no revenue . Cpec power plants running on IMPORTED fuel are the worst projects
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ADBux Mar 20, 2024 10:16am
What a foreign banker can do?
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Tariq Qurashi Mar 20, 2024 10:45am
If CPEC is managed wisely, then both China and Pakistan can benefit from this immensely. It should be ensured that the funds generated by Pakistan from CPEC match and exceed any debt servicing needs.
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Az_Iz Mar 20, 2024 04:52pm
@Tariq Qurashi, that is so correct.
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Az_Iz Mar 20, 2024 04:55pm
So far CPEC has laid the groundwork.It's success depends on the successful implementation of the next phase,in the areas of agriculture and industry.
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Aan Mar 21, 2024 09:08am
As of now CPEC is not a win win situation only benefiting to Chinese companies particularly energy sector. Safe investment exempted from all types of duties even no tax on income still tariff RS 50.
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