China ready to roll over Pakistan's debt to Beijing amid political turmoil in Islamabad

Pakistan Foreign Minister Shah Mahmood Qureshi, on Wednesday, March 30, met with his Chinese counterpart Wang Yi on the sidelines of the 3rd round of talks of the Foreign Ministers of Neighbouring Countries of Afghanistan at Hefei, China. The meeting comes amid the mounting tensions in Islamabad over Pakistan Prime Minister Imran Khan's trust vote. Speaking to Qureshi, Yi cautioned him against the "bloc confrontation" in Asia and warned him to be "vigilant against" the negative spillover effect of the Ukraine crisis.

"We must not allow the cold war mentality to resurface in Asia. We must not allow bloc confrontation to repeat in Asia and must keep away small and medium-sized countries in the region to become tools or even victims of major country rivalry," Chinese FM Yi told his Pakistani counterpart Qureshi, as quoted by Xinhua.

Yi also affirmed China's support to Pakistan in order to play a "constructive role in regional and world peace." He also noted Islamabad and Beijing's growing all-weather strategic cooperation that withstood the test of time and exhibited strong vitality. He added, regardless of the international situation, Beijing will promote Pakistan's national sovereignty and territorial integrity.

China to roll over Pakistan's $4.2bn debt to Beijing

In his meeting, Wang announced that Beijing is ready to roll over Pakistan's debt of $4.2 billion (Rs 31,844.61 crore) to Beijing in a bid to help Islamabad stay afloat in the current economic crisis.

"I am immensely happy to share that Chinese FM has nodded on the rollover of commercial loan" which was maturing this week, Dawn quoted Qureshi as saying. The procedural formalities are being completed by relevant authorities currently.

Meanwhile, both the ministers also agreed to ensure "quality development" of the China-Pakistan Economic Corridor (CPEC), which is a flagship project of Beijing's Belt and Road Initiative (BRI). They also deliberated on bolstering bilateral cooperation and multidimensional partnership in areas such as information technology, agriculture and industry. Pakistan also reiterated its firm adherence to China's One China Policy, under which Beijing claims Taiwan to be a breakaway region.

Pakistan highlights need for 'equal respect for rights of men & women' in meeting with Afghan acting FM

On the sidelines of the actual summit, Qureshi also met with Afghanistan's interim Foreign Minister Amir Khan Mottaqi. Noting the repressive decision of the Taliban to deprive teenage girls of secondary education, Qureshi highlighted the "importance of equal respect for the rights of men & women." He also called for the interim Govt to take more steps toward inclusivity, Qureshi informed through a Twitter post.

Separately, both the leaders also engaged in a trilateral meeting with Yi, where the top diplomats acknowledged the mandate of a "peaceful and prosperous Afghanistan." Qureshi added that the leaders agreed to work jointly in pursuit of the shared objectives. 

(Image: AP)