China will save Pakistan from default: Shehbaz

Karachi: Pakistani Prime Minister Shehbaz Sharif said no deal is being reached with the International Monetary Fund (IMF), but stressed that China’s support will play a crucial role in preventing the country from facing a possible default.

During his address to industrialists and businessmen in Karachi, Prime Minister Sharif said that Pakistan has successfully met all the strict conditions imposed by the International Monetary Fund (IMF), emphasizing the government’s commitment to completing the IMF programme, Samaa TV reported. .

Sharif said China has shown support by refinancing its trade debt, highlighting the goodwill of friendly countries towards Pakistan’s development.

He further said that Pakistan enjoys positive sentiments from its friendly nations, reflecting the collective desire to see the country’s progress, Samaa TV reported.

The prime minister pointed out that the previous government had violated the agreement with the IMF.

The country has experienced political instability for a year, which continues to persist. This prevailing instability has further contributed to the rise in prices, exacerbating the problem of inflation.

Sharif stressed the importance of investors who voluntarily take risks and invest in Pakistan, considering them ambassadors of the country.