HONG KONG: China and Pakistan will upgrade and reconstruct Pakistan’s railway network and further develop its Gwadar port, while Chinese companies can invest in the South Asian nation’s offshore oil and gas developments, the official Xinhua news agency reported on Thursday.
The comments came as Pakistan’s President Asif Ali Zardari visits China from February 4-8, where he will also attend the opening ceremony of the Asian Winter Games.
Chinese investment and financial support for Pakistan since 2013 have been a boon for the South Asian nation’s struggling economy.
The two countries have had close ties underpinned by long-standing wariness of their common neighbor, India, and a desire to hedge against US influence across the region.
Pakistan and China recognized the importance of Pakistan’s “Gwadar Port and agreed to fully unleash its potential as a key node for connectivity and trade,” Xinhua said quoting a joint statement from the two countries.
Chinese-funded enterprises would be encouraged to “carry out mining investment cooperation in Pakistan” and cooperate in terrestrial and marine geological resources.
“Pakistan welcomes Chinese companies to participate in the development of offshore oil and gas resources in Pakistan.”
Longtime Pakistan ally China has thousands of nationals working on projects grouped under the China-Pakistan Economic Corridor (CPEC).
The $65-billion investment is part of President Xi Jinping’s Belt and Road Initiative, designed to Beijing’s global reach by road, rail and sea.
China, Pakistan pledge to boost cooperation on infrastructure, mining projects
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China, Pakistan pledge to boost cooperation on infrastructure, mining projects
- President Asif Ali Zardari is visiting China from Feb. 4-8, where he will also attend the opening ceremony of Asian Winter Games
- Chinese investment and financial support for Pakistan since 2013 have been a boon for South Asian nation’s struggling economy
Islamabad says surge in aircraft orders after India standoff could end IMF reliance
- Pakistani jets came into the limelight after Islamabad claimed to have shot down six Indian aircraft during a standoff in May last year
- Many countries have since stepped up engagement with Pakistan, while others have proposed learning from PAF’s multi-domain capabilities
ISLAMABAD: Defense Minister Khawaja Asif on Tuesday said Pakistan has witnessed a surge in aircraft orders after a four-day military standoff with India last year and, if materialized, they could end the country’s reliance on the International Monetary Fund (IMF).
The statement came hours after a high-level Bangladeshi defense delegation met Pakistan’s Air Chief Marshal Zaheer Ahmed Baber Sidhu to discuss a potential sale of JF-17 Thunder aircraft, a multi-role fighter jointly developed by China and Pakistan that has become the backbone of the Pakistan Air Force (PAF) over the past decade.
Fighter jets used by Pakistan came into the limelight after Islamabad claimed to have shot down six Indian aircraft, including French-made Rafale jets, during the military conflict with India in May last year. India acknowledged losses in the aerial combat but did not specify a number.
Many countries have since stepped up defense engagement with Pakistan, while delegations from multiple other nations have proposed learning from Pakistan Air Force’s multi-domain air warfare capabilities that successfully advanced Chinese military technology performs against Western hardware.
“Right now, the number of orders we are receiving after reaching this point is significant because our aircraft have been tested,” Defense Minister Asif told a Pakistan’s Geo News channel.
“We are receiving those orders, and it is possible that after six months we may not even need the IMF.”
Pakistan markets the Chinese co-developed JF-17 as a lower-cost multi-role fighter and has positioned itself as a supplier able to offer aircraft, training and maintenance outside Western supply chains.
“I am saying this to you with full confidence,” Asif continued. “If, after six months, all these orders materialize, we will not need the IMF.”
Pakistan has repeatedly turned to the IMF for financial assistance to stabilize its economy. These loans come with strict conditions including fiscal reforms, subsidy cuts and measures to increase revenue that Pakistan must implement to secure disbursements.
In Sept. 2024, the IMF approved a $7 billion bailout for Pakistan under its Extended Fund Facility (EFF) program and a separate $1.4 billion loan under its climate resilience fund in May 2025, aimed at strengthening the country’s economic and climate resilience.
Pakistan has long been striving to expand defense exports by leveraging its decades of counter-insurgency experience and a domestic industry that produces aircraft, armored vehicles, munitions and other equipment.
The South Asian country reached a deal worth over $4 billion to sell military equipment to the Libyan National Army, Reuters report last month, citing Pakistani officials. The deal, one of Pakistan’s largest-ever weapons sales, included the sale of 16 JF-17 fighter jets and 12 Super Mushak trainer aircraft for basic pilot training.
