Pakistani PM Imran Khan to visit China as cash-strapped government seeks funds on top of US$6 billion Saudi bailout
- Prime Minister Imran Khan struck a 12-month deal for a balance of payments lifeline during a visit to Saudi Arabia
- Khan has sought loans from friendly countries such as China and embarked on a series of high-profile populist austerity measures
Pakistan’s Prime Minister Imran Khan will visit China next week, authorities said Thursday, as the former cricketer mounts a desperate search for funds to prop up the nation’s dire finances.
The confirmation of Khan’s first visit to China as premier comes days after Pakistan secured US$6 billion dollars in funding from Saudi Arabia to help stave off a widening balance of payment crisis.
Khan said in a televised address on Wednesday that he was working to nail down Saudi-style financing packages from two additional, unnamed countries to reduce the size of a potential loan from the International Monetary Fund.
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The foreign affairs ministry said Khan would meet Chinese President Xi Jinping and Premier Li Keqiang on the November 2-5 trip which will take in Beijing and the commercial hub of Shanghai.
“The visit will provide an opportunity for the two countries to review the entire spectrum of bilateral relations with special reference to CPEC,” foreign ministry spokesman Muhammad Faisal said, referring to the China-Pakistan Economic Corridor.
CPEC is a multibillion-dollar infrastructure project aimed at building energy and transport links connecting the western Chinese region of Xinjiang with the Arabian Sea via Pakistan.
However, given Pakistan’s deteriorating finances, in recent months there have been concerns that portions of the ambitious agreement may have to be scaled down.
Analysts said Khan will be pushing for financial assistance from Beijing during the visit.