China reaffirms support to Pakistan’s economic growth

China has reassuring continued support to Pakistan's economic development. The assurance was given by China's Minister of Finance Lan Fo'an during his meeting with Finance Minister Senator Muhammad Aurangzeb and Minister for Energy Sardar Awais Ahmad Khan Laghari in Beijing. Finance Minister Muhammad Aurangzeb underscored the special significance of China-Pakistan financial and banking cooperation in the all-weather and iron-clad strategic cooperative partnership between the two countries. He thanked the Chinese side for its invaluable economic and financial support to Pakistan in time tested way. The Minister informed the Chinese side about the Government's economic reform agenda, including the efforts to strengthen tax revenue generation, energy and SOE reforms and achieve sustainable growth. The Minister for Energy outlined the ongoing reforms in the energy sector. He emphasized the government's resolve to successfully overcome the operational and organizational challenges. The Minister of Finance o f China appreciated Pakistan's resolve for a strong economic recovery. He explained the Chinese experience of structural reforms over the last thirty years and suggested that this could be a good example for Pakistan to emulate. He emphasized that both countries have a longstanding partnership. Later, Senator Muhammad Aurangzeb and Sardar Awais Ahmad Khan Laghari also held a useful meeting with the President of China Export and Credit Insurance Corp at its Headquarters and discussed the latest reform agenda of the government of Pakistan. During the meeting, both ministers lauded SINOSURE's role in the development of Pakistan, particularly during the first phase of CPEC. They showed confidence that SINOSURE will continue its full support for completing ongoing and new projects under the second phase of CPEC especially now led by the private sector. Source: Radio Pakistan