Chinese President Xi Jinping is arriving here on Monday on a two-day (April 20-21) state visit with a massive economic package. Both Pakistan and China are expected to sign $45 billion energy, communication and infrastructure projects during the Chinese President's visit to Pakistan.
Foreign Office spokesperson Tasnim Aslam said that the Chinese President will be accompanied by a large delegation, including First Lady Madam Peng Liyuan, senior ministers, high-level functionaries of the Communist Party, and senior government officials. The CEOs from a wide spectrum of Chinese business houses would also be part of the delegation.
During the visit, President Xi Jinping will meet President Mamnoon Hussain, who will also host a luncheon in honour of the visiting dignitary. The Chinese President will hold official talks with Prime Minister Nawaz Sharif and later both the countries will conclude a number of important agreements/MoUs relating to key development projects in infrastructure, energy, and communication sectors under the ambit of the China-Pakistan Economic Corridor (CPEC). Important agreements relating to other areas would also be signed on this occasion, she added.
The spokesperson further said that President Xi Jinping will be conferred the country's highest civil award, the 'Nishan-e-Pakistan' at a special investiture ceremony to be held at the Aiwan-e-Sadr. Chairman Joint Chiefs of Staff Committee and the three services chiefs would also call on the Chinese President.
She said that President Xi Jinping's visit would further consolidate the existing 'all weather relations' between Pakistan and China, in all areas of importance, especially political, economic and strategic. The visit would be the most important highlight of the 'Pakistan-China Year of Friendly Exchanges', she added. This would be the Chinese President's first foreign visit this year. He will also address a joint session of Parliament on Tuesday. Former Chinese President Jiang Zemin had also addressed a special session of the Senate on December 2, 1996.
The much-awaited visit of President Xi Jinping was earlier scheduled for September 14-16, 2014, but it was postponed due to protest demonstrations in Islamabad by Pakistan Tehreek-e-Insaf and Pakistan Awami Tehreek.
"Pakistan and China attach the highest priority to the strategic co-operative partnership between the two countries. Exchanges at the highest level are the hallmark of their unique friendship and wide-ranging co-operation", Tasnim Aslam said, adding the two sides will review all aspects of their bilateral relations and also exchange views on regional issues and international developments during the visit.
Minister for Planning, Development and Reforms Ahsan Iqbal said that of the total $45 billion investment, the China intends to invest up to $37bn in various energy projects, whereas $8bn would be a concessional loan to be invested on infrastructure projects of PCEC.
The minister, however, did not divulge into the details of exact markup rate, saying the markup of the concessional loan will be considerably lower than the market rate with an amortization period of 15 to 20 years. According to EAD data released on March 26, 2015, the country received $21.5m from China in February and a total of $564.9m has, so far, been received from China in the current fiscal year. China is expected to be the largest single donor to Pakistan with a budgeted inflow of $1365.49m.
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