China provides multiple forms of financial bailout package to Pakistan: Top Chinese official

China provides multiple forms of financial bailout package to Pakistan: Top Chinese official
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ISLAMABAD - China is providing multiple forms of bailout package to Pakistan instead of direct cash or loans, senior Chinese official in Pakistan has revealed.

China is investing in multiple sectors and launching business ventures instead of providing loans, Chinese Consul General Long Dingbin said in an interview link .

Dingbin said that during Prime Minister Imran Khan's recent trip to China , the two neighbours had signed 15 new agreements which will lead to increased cooperation in politics and the financial sector and will also improve cultural ties.

"Instead of hard cash, China plans to eventually provide multiple forms of bailout packages [to Pakistan] in the shape of phenomenal investments in fresh projects," he said, adding that the investments will help Pakistan "overcome its financial crunch".

He further said that the new ventures that were being launched would broaden the scope of the China-Pakistan Economic Corridor (CPEC).

The Chinese consul general claimed that China would "never leave Pakistan in a lurch" and will provide "maximum resources" to ensure that the latter can strengthen its wavering economy.

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