Islamabad: In a significant development, China has pledged support for Pakistan’s bid to secure approval from the International Monetary Fund (IMF) board, according to Finance Minister Senator Muhammad Aurangzeb.
Addressing a press conference, Senator Aurangzeb revealed that his recent visit to China, accompanied by Energy Minister Sardar Awais Ahmad Khan Leghari, yielded constructive meetings with top Chinese officials, including the Finance Minister and President of the Bank of China.
The minister disclosed that discussions focused on bilateral trade, economic cooperation, and local energy requirements. Re-profiling of energy sector loans and conversion of energy plants to coal were also on the agenda.
China, a key player in global capital markets, has assured Pakistan of its support in diversifying funding sources and bolstering foreign exchange reserves through the issuance of Panda bonds.
Senator Aurangzeb emphasized that China, along with Saudi Arabia and the United Arab Emirates, has consistently backed Pakistan’s economic growth and development.
On the domestic front, the government is implementing measures to revitalize the economy, including taxation reforms and simplification of tax returns. The Tajir Dost Scheme, aimed at voluntary tax compliance, has been launched, with plans to extend similar facilities to other sectors.
The minister warned against artificial price hikes and directed provincial governments to ensure fair prices of essential commodities.
With China’s support and domestic reforms, Pakistan is poised to overcome economic challenges and achieve sustainable growth.
