- China is expected to receive Prime Minister Shehbaz Sharif in November.
- Ishaq Dar requested assistance from the Chinese ambassador in arranging the rollover of $2 billion in SAFE deposits due in March 2023.
- To achieve the IMF’s condition, Pakistan must assure a rollover of $2 billion in SAFE deposits for the current fiscal year.
Prime Minister Shehbaz Sharif will travel to China on business during the first week of November, according to credible sources.
Meanwhile, inside the Pakistani Embassy in Beijing, a seminar on Pakistan’s floods was organised. We are pleased to welcome academics, a Chinese think tank, and foreign organisations to the embassy.
Discussed with them Pakistan’s recent floods as well as the country’s vulnerability to climate change The Pakistani ambassador, Moinul Haque, congratulated them for their commitment to give back.
Moin was a candidate for foreign secretary in the past, but his current term expires next year.
According to a press release, officials from international organizations, a Chinese think tank, non-governmental organizations (NGOs), the Global Young Leaders Dialogue (GYLD), and the Pakistani community attended the event in Beijing.
During his address, Moin briefed the audience on the breadth and features of Pakistan’s recent and devastating floods. He praised the international community for its aid, notably China and the United Nations, and emphasized the need for international collaboration and proactive climate action in order to mitigate the effects of climate change.
Dar emphasized that Pakistan was one of the nations most vulnerable to climate change despite having low carbon emissions. He asked wealthier nations to aid impoverished countries affected by climate change. He expressed optimism that the international community will continue to help Pakistan during the recovery and reconstruction process.
CCG President Henry Huaiyao Wang emphasized the importance of increased worldwide collaboration in tackling climate change. He highlighted China’s expertise in battling climate change, expressed support for Pakistan, and welcomed the diverse lineup of speakers and participants to the event.
Mabel Lu Miao, secretary general of CCG and originator of the Global Young Leaders Dialogue, witnessed the devastating loss of life and essential infrastructure in Pakistan as a result of the floods (GYLD).
She emphasized the importance of group action in the aftermath of Pakistan’s climate disaster, as well as global solidarity in this regard.
In his keynote lecture, UN Resident Coordinator in China Siddharth Chatterjee emphasized how altering climate patterns affect a range of things, including floods, food security, and increasing sea levels. He emphasized the need for collaborative efforts to address climate problems, citing Pakistan’s vulnerability to climate change and the devastation caused by recent floods.
Zhou Jinfeng, Professor Shahbaz Khan, Vano Noupech, Ali Mchumo, the director general of the International Organization of Bamboo and Rattan, Ambassador Sohail Khan, the SCO’s deputy secretary-general, Professor Shahbaz Khan, the resident coordinator of Unesco in China, and the International Organization of Bamboo and Rattan were among the other keynote speakers.
Pakistan Wants China To Renew Its SAFE Deposits
On September 30, Finance Minister Ishaq Dar requested the aid of the Chinese ambassador in arranging the rollover of $2 billion in State Administration of Foreign Exchange (SAFE) deposits due in March 2023 in order to fulfill the financial conditions for the IMF programme.
To achieve the IMF’s condition, Pakistan must assure a rollover of $2 billion in SAFE deposits for the current fiscal year.
The shift came when US Secretary of State Antony Blinken pushed Pakistan to seek debt forgiveness from its close partner China in light of the disastrous floods that ravaged the whole country.
Blinken made the remarks after meeting with Foreign Minister Bilawal Bhutto Zardari in Washington on September 16.
According to an official statement issued by the Ministry of Finance, Chinese Ambassador Nong Rong met with Finance Minister Ishaq Dar on Friday at the Finance Division.
Dar briefed the ambassador of the devastation caused by Pakistan’s unprecedented floods, including the costs to the country’s economy, infrastructure, crops, lives, and property.
He also expressed gratitude to the Chinese leadership for its assistance in refinancing the syndicate credit for RMB 15 billion ($2.24 billion) extended to Pakistan. He also asked for the ambassador’s help in organizing the rollover of $2 billion in SAFE China deposits in March 2023.