Islamabad: Prime Minister Shehbaz Sharif lauded role of China, saying that neighbouring ally came to Pakistan's rescue during current economic situation, as ongoing International Monetary Fund (IMF) bailout programme remains delayed.

Remarks were made during memorandum of understanding signing ceremony of 1,200MW Chashma 5 (C5) nuclear power project. MoU was inked between China National Nuclear Cooperation and Pakistan Atomic Energy Commission (PAEC).

"Of late, Pakistan is faced with economic challenges and we are engaged with IMF in trying to finalise ninth review. Country has already met all terms and conditions required by IMF.

"We thought this (resumption of programme) would have been done two months ago, three months ago but there has been an inordinate delay. However, China once again came to our help and our rescue," said PM.

"Other than China, we have our great friends like Saudi Arabia, UAE and Qatar, who have been helping and supporting Pakistan. But at this juncture, Chinese financial support has been outstanding.

"We are deeply obliged to President Xi and Chinese leadership," he said.

Shehbaz praised his economic team including Finance Minister Ishaq Dar for striking agreements with Chinese counterparts. On C5 project, he said that MoU signing is "Great step forward of economic cooperation between China and Pakistan". "Hopefully, we will kick start it without further delay," he said. Shehbaz lauded Chinese financing to tune of $ 4.8 billion in Pakistan in current economic situation.

Published in The Daily National Courier, June, 20 2023

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