*ISLAMABAD – Pakistan’s financial woes have dragged the country down to a“low point”, Prime Minister Imran Khan told Chinese President Xi JinpingFriday, as he seeks funds from Beijing to stave off a fiscal crisis.*
Before travelling to China, PM Khan said that he was striving to obtainfinancial aid from two unnamed countries after Pakistan secured $6 billionin funding from Saudi Arabia.
His government has also entered talks with the International Monetary Fundover a potential bailout as it grapples with a balance of payment crisisand current account deficit.
Pakistan has gone to the IMF repeatedly since the late 1980s.
The last time was in 2013, when Islamabad got a $6.6 billion loan to tacklea similar crisis.
Greeted by Xi at the Great Hall of the People in Beijing, Khan said he hadcome to “learn” from China’s experiences in combatting poverty andcorruption.
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“Unfortunately we have inherited a very difficult economic situation,” Khansaid.
“Countries go in cycles. They have their high points, they have their lowpoints. Unfortunately our country is going through a low point at themoment,” he said.
Xi said he attached “great importance to China-Pakistan relations” and was“willing to work together with the prime minister to strengthenChina-Pakistan’s all-weather strategic partnership and build a new era ofChina-Pakistan destiny.”
But neither leader announced any deals. Khan will meet with Chinese PremierLi Keqiang on Saturday and will attend a massive import expo hosted by Xiin Shanghai next week. – APP/AFP
