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China to open its markets for Pakistan, says ambassador

April 22, 2019
 

File photo: AFP

The Chinese government has decided to open its markets for Pakistan, Chinese envoy to Pakistan Yao Jing said Monday.

“The Chinese government has decided to share 90 percent of its markets,” Jing said in Islamabad.

Prime Minister Imran Khan will leave for China on April 25 for a three-day official visit. The governments of the two countries will sign a Free Trade Agreement during the visit.

The ambassador said that Karachi needs a circular railway and China is ready to help Pakistan.“We need more time to finalise a proper financial package,” he added.

The US and IMF officials have expressed concerns that the bailout package that Pakistan is seeking from the monetary fund may be used to pay Chinese debt.

The Chinese ambassador, however, clarified that Pakistan will not have to pay back its loan in the next three to five years.

He said that Pakistan can pay back the loan in 25 to 30 years.

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