Imran Khan meets with Chinese Premier Xi Jinping and business leaders as Pakistan seeks additional loans

In the midst of Islamabad's fight to address financial issues, Pakistan Prime Minister Imran Khan met with Chinese Premier Li Keqiang and senior leadership of state-owned and private firms in China on Saturday.

According to Pakistan's Prime Minister's Office, Imran Khan has told Chinese businesses that he will continue to support them as they extend their footprints in the country. Khan was accompanied to the sessions by members of his cabinet and senior officials.

In a tweet, the Prime Minister said, "Appreciating the interests of Chinese companies in enhancing business ties with Pakistan, the Prime Minister highlighted that the government of Pakistan had offered many incentives to foreign enterprises, particularly from China, for investment in Pakistan Special Economic Zones."

Khan is in China for a four-day visit to attend the Beijing Winter Olympics opening ceremony and meet with Chinese government and business leaders. On Friday, he signed a new agreement with China to begin the second phase of the China-Pakistan Economic Corridor (CPEC), a contentious project that runs through Pakistan-controlled Kashmir (PoK).

Pakistan's Prime Minister met with executives from China Energy Engineering Corporation (CEEC), China State Construction Engineering Corporation (CSCEC), Power China, East Sea Group, China Railway Group Limited (CREC), China Metallurgical Group Corporation (MCC), Beijing Century Industrial Development Co. Ltd (CENTINCO), and the CHINAMEX Group on Saturday.

He was briefed on the status of ongoing Chinese projects and future investment plans in the domains of energy, refining, petrochemicals, infrastructure development, water management, ICT, and housing.

Pakistan is attempting to alleviate its financial strain by obtaining additional loans from Beijing in order to stabilise its declining foreign exchange reserves. According to The Express Tribune, the Imran Khan government is considering seeking that China authorize $3 billion in SAFE deposits with China's State Administration of Foreign Exchange.