China stands with Pakistan in overcoming debt challenges: Zhao Shiren, Chinese CG

Chinese Assistance to Pakistan:

• Chinese debt constitutes only 13 percent of Pakistan’s total foreign payable debt.
• Objective: Help Pakistan overcome financial constraints and avoid a debt trap.
• Recent Actions: China rolled over a $2bn loan and refrains from pressuring Pakistan for loan repayment.
• Chinese aid aims to extend necessary financial assistance, not impose burdens.

Visa Policy and Trade Relations:

• Limited issuance of multiple visas based on financial status and trade volume.
• Proposal under consideration to expand visa issuance to Lahore.
• 13 Punjab chambers authorized to issue support letters for visa applications.
• Both governments considering agreements for payment in local currencies.

Efforts for Gender Equity and Trade Deficit:

• Consul General proposes enhanced cooperation for gender mainstreaming.
• Encourages Pakistan to bridge trade deficit by increasing exports to China, Saudi Arabia, and the UAE.
• Emphasizes opportunities under Pak-China Free Trade Agreement2 for Punjab’s agriculture and industrial sectors.

Chinese Support in Various Sectors:

• Chinese assistance includes technology transfer for agriculture and infrastructure development.
• Highlighted projects include Gwadar port inauguration, CPEC2 initiatives, and completion of projects in KPK and AJK with Chinese collaboration.
• Anticipated visit of Chinese ambassador to Lahore and Faisalabad to engage with local business community.

FCCI’s Perspective and Support:

• FCCI acknowledges China’s potential to help Pakistan progress.
• Commitment to supporting industrial establishment in Faisalabad with Chinese assistance.

Conclusion:

• Emphasizes mutual benefits and collaboration between Pakistan and China for progress and prosperity.