BEIJING: Prime Minister Shehbaz Sharif on Thursday said the reform measures taken by his government had already started yielding results in the form of successfully tapered food inflation, reduced current account deficit and public debt down to a more sustainable level.
The prime minister, talking to Chairman of China Export-Import Bank (EXIM) Dr Wu Fulin here, highlighted his government’s reform agenda focused on governance, taxation, and ease of doing business to attract Foreign Direct Investment (FDI).
He appreciated the EXIM Bank’s continued support for the modernization of industries, agriculture and IT sectors of Pakistan.
Five-day China visit: PM vows security to investments, individuals
He also discussed the possible role of the China EXIM Bank in financing Pakistan-China joint venture projects and trade financing as part of efforts to boost Pakistan’s exports to international markets.
The EXIM Bank chairman underscored the critical role of economic and financial cooperation under CPEC phase II and China EXIM Bank’s strategic partnership with Pakistan and support to advance sustainable development under the concept of ‘shared prosperity’.
Meanwhile, Prime Minister Shehbaz Sharif met the Chairman of China International Cooperation Agency (CIDCA) Ambassador Luo Zhaohui wherein they exchanged views on the unique and enduring China-Pakistan friendship and the promotion of pragmatic cooperation driven by common development, strategic trust, and mutual benefit.
The PM, who arrived here Wednesday on the second leg of his five-day China visit, appreciated the robust support of CIDCA for CPEC projects and Pakistan’s socioeconomic development, particularly the establishment of Pakistan-China Friendship Hospital, the Desalination Plant in Gwadar, and the New Gwadar International Airport.
Terming the China-Pakistan Economic Corridor (CPEC) as the hallmark of ironclad friendship between Pakistan and China, they noted that the Joint Working Group on Socioeconomic Development under the CPEC had yielded positive results.
They also expressed confidence that the momentum would continue in the CPEC phase II to improve the lives and livelihoods of the people.
PM Shehbaz underlined that the governments and the peoples of both countries had always stood in solidarity with each other during times of natural disasters and calamities.
He commended CIDCA’s pivotal role in supporting developing countries particularly Pakistan during the Covid-19 pandemic, the post-2022 flood reconstruction, and the grant of polio vaccines.
The CIDCA chairman expressed commitment to further deepening China-Pakistan cooperation across diverse fields.
He also underlined the need to expand the bilateral partnership in infrastructure development, climate change response, and human resource development, including under the ambit of the Belt and Road Initiative (BRI) and the Global Development Initiative (GDI).