Islamabad: A high-level Pakistani delegation left for China on Thursday to finalise the quantum of a potential financial aid package for the cash-strapped country, even as a team of officials from the IMF is here for talks on a bailout plan.
The government of Prime Minister Imran Khan is facing grave economic challenges as it struggles to avoid a financial crisis and keep the economy afloat.
Last month, Saudi Arabia said it would provide Pakistan with a USD 6 billion rescue package, but officials have said it is not enough, and the country still plans to seek a bailout from the International Monetary Fund (IMF).
On Saturday, China said it will provide the "necessary support" to Pakistan to tide over the present financial crisis after talks between Prime Minister Khan and his Chinese counterpart Li Keqiang in Beijing.
China has not yet revealed how much it would dole out to its all-weather ally Pakistan to address its financial woes.
The Pakistani delegation that left for Beijing includes secretaries of finance, trade and planning, as well as the governor of the State Bank of Pakistan, Geo News reported. The delegation will hold talks with Chinese officials to finalise a possible economic package, in a follow-up to Prime Minister Khan's maiden visit to China, it said. Discussions will also be held pertaining to Pakistan-made products' access to the Chinese markets, the report quoted sources as saying.