Pakistan praises China's support for safe deposits roll-over, loan refinancing

March 20, 2024 (MLN): The Federal Minister for Finance Muhammad Aurangzeb on Tuesday praised the Chinese leadership for invaluable support to Pakistan, especially citing the rollover of SAFE deposits and loan refinancing that was crucial for economic stability.

According to a press release issued yesterday, Ambassador of China Jiang Zaidong called on the finance minister to discuss key matters pertaining to economic cooperation and bilateral relations between Pakistan and China.

Muhammad Aurangzeb emphasized the paramount importance of the China-Pakistan Economic Corridor (CPEC) in Pakistan's growth strategy and overall economic recovery.

Both sides agreed to advance their collaboration in various sectors, including industrial zones, agriculture, mineral and mining, as well as renewable energy.

It was discussed that the next phase of CPEC would focus on the monetization of gains made during the first phase.

Concluding the meeting, both sides reiterated the desire to collaborate closely to further deepen and enhance the economic relationship between the two countries, reflecting the strong bonds of friendship and cooperation that exist between Pakistan and China.

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