China, Pakistan making efforts in ‘positive direction’: Chinese embassy


ISLAMABAD: China and Pakistan have maintained friendly consultations on the renewal of the 15 billion RMB yuan loan and are “making efforts in a positive direction”, the Chinese embassy in Islamabad said.

“The two sides have maintained close and friendly consultations on the renewal of the 15 billion RMB yuan loan and are making efforts in the positive direction,” the embassy spokesperson told APP when asked to comment on the development as China rolled over the commercial loan for Pakistan.

Foreign Minister Shah Mahmood Qureshi, who held a meeting with China’s State Councilor and Foreign Minister Wang Yi in Huangshan on Wednesday, said Beijing had reaffirmed that “it was and would always stay a close ally of Pakistan”.

In a video message after the one-on-one meeting with his Chinese counterpart, Qureshi announced that China had promised to strengthen Pakistan’s regional and strategic importance. “I am immensely happy to share that the Chinese FM has given a nod of approval on the rollover of commercial loan as well,” he said.

The debt, which was due to mature this week, has been rolled over providing a major financial relief to Pakistan. The foreign minister said the procedural formalities were being completed by relevant authorities, adding that an announcement in this regard would be made soon.