The maiden visit of Prime Minister Imran Khan to China will yield positive durable impact towards strengthening trade relations between the two countries. China has always supported Pakistan in its crucial times. A message has been conveyed to the regional countries that Pakistan and China are time tested friends and there are no misunderstandings between the two countries as far as China Pakistan Economic Corridor is concerned.
Pakistan has sought to amend the CPEC to put greater emphasis on projects that focus on social development, rather than purely on infrastructure. The visit of Prime Minister Imran Khan is expected to provide further impetus to enhancing the existing strategic ties between Pakistan and China. Certain Memoranda of Understanding and agreements are expected to be signed during this visit including 9 agreements in general and 5 agreements partially.
Prime Minister Imran Khan is continuously making efforts to retrieve the economy of the country. The government was under extreme pressure to go to IMF for a bailout package. Prime Minister visited Saudi Arabia and managed to get a bailout package and is now on a visit to China with some expectations.
We are hopeful that China will also support Pakistan in its economic revival. Unfortunately, Pakistan is facing a shortfall of about 10 million dollars this year. Pakistan will still be needed more amount to meet the economic challenge so will have to go to IMF but this time for a less amount of loan. Our foreign exchange reserves are at four-year lows, pressuring the local rupee and triggering worries that Islamabad may soon be unable to finance monthly import bills.
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The visit of Prime Minister Imran Khan to China is vital and will be a milestone. PM is interested in to get the experience of Chinese role model for elimination of white collar crime, corruption and poverty alleviation. China has lifted over 700 million people over poverty line in last 30 years. China hanged over 400 officials who were involved in corruption.
China is emerging as an economic power in the world and its growth rate is highest than any other country. The exports of Pakistan are on decline and China could support Pakistan to improve exports to a great extent. Pakistan can do much more to balance bilateral trade and China should import more from Pakistan to settle the prevailing imbalance in trade positively. Pakistan should sign treaties with China as India has signed with different countries to avoid destabilizing the balance in regional power.
