Sharif to discuss economy issues

PAKISTAN’S prime minister Shehbaz Sharif (above) arrived in Beijing on Tuesday (1) to meet Chinese leaders and discuss plans for the China Pakistan Economic Corridor (CPEC), a $65 billion (£56.58bn) investment in the south Asian nation.

The major investment in development and energy projects in Pakistan is part of president Xi Jinping’s Belt and Road Initiative (BRI) to improve China’s road, rail and sea routes with the rest of the world.

Islamabad and Beijing are considered longtime close allies, and Sharif is also expected to discuss security issues while on his visit.

On his two-day maiden visit to Beijing since taking office in April, Sharif will also seek some debt relief from China, in particular the rolling over of bilateral debt, an aide travelling with the prime minister said.

Chinese loans – around $23bn (£20bn) – make up the largest chunk of Pakistan’s $27bn (£23.5bn) of bilateral debt.

Sharif will be one of the first leaders to meet president Xi since he secured a third term in power.

“My discussions with the Chinese leadership will focus on revitalisation of CPEC among many other things,” Sharif said, adding that he would be meeting president Xi and other Chinese executives while there.