Cash-strapped Pakistan at 'low point', PM tells China

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He said: "My party has only been in power for two months". He said his party had been in power for only two months and had inherited a hard economic situation.

The minister went on to say that the prime minister's China visit would rid the country out of economic crisis.

"Unfortunately our country is going through a low point at the moment with two very big deficits, a fiscal deficit and a current account deficit", he said. However, there was no immediate official comment from Beijing on the report.

But while neither leader mentioned economic aid in front of reporters, China's top diplomat guaranteed support from Beijing in a separate meeting with his Pakistani counterpart.

He also said the two sides should boost people-to-people exchanges, strengthen anti-terrorism cooperation and increase coordination and communication on multilateral platforms such as the United Nations and the Shanghai Cooperation Organization.

The two countries also signed MoUs for cooperation in forestry, earth sciences and transfer of electronics.

He noted the assistance agreed to by Saudi Arabia, and said that China's support would allow Pakistan to avoid a large International Monetary Fund loan that may attract tough conditionalities which ultimately lead to inflation, squeeze the economy and put additional burden on the people. The Chinese delegation was led by Prime Minister Li Keqiang. The two leaders discussed regional and global issues of mutual interest and agreed to work closely towards overcoming growing political-economic uncertainties.

India has consistently opposed the 1963 "China-Pakistan Boundary Agreement" that recognises PoK as under "actual Pakistani control" without prejudicing a final dispute resolution with India, and India has protested the Karakoram Highway on which traffic has been plying regularly, as well as subsequent infrastructure projects built by China in the disputed area.

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He said the goodwill among the peoples of Pakistan and China provided a firm basis for the Pakistan-China all-weather strategic cooperative partnership for a shared future.

President Xi congratulated Prime Minister Khan on his election and assumption of the office.

Mr Khan's trip to China comes amid unrest at home over the acquittal of a Pakistani Christian woman on death row for blasphemy.

During a trip to China today, Mr Khan acknowledged his country has hit a "low point".

The so-called "CPEC" involves a host of projects with an aim to connect China's Xinjiang province with Balochistan's Gwadar port. They reaffirmed their complete common understanding on early realisation of CPEC projects.

PM Khan extended an invitation to President Xi Jinping to visit Pakistan.

Prime Minister Imran Khan arrived in China on his first visit as the premier late Thursday, with a special focus on learning how to eliminate corruption and weed out poverty.

Khan lauded President Xi and other Chinese leadership for bringing down poverty in China and bringing out 700 million people from poverty in 30 years.

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