Beijing, Islamabad pledge to promote exchanges, learning of Chinese and Islamic civilizations

In this handout photo, taken and released by the Chinese Embassy in Pakistan on October 25, 2024, China’s Ambassador to Pakistan Jiang Zaidong speaks during a meeting with a group of Pakistani journalists at the Chinese Embassy in Islamabad. (Photo courtesy: Chinese embassy/File)
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Updated 24 March 2025
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Beijing, Islamabad pledge to promote exchanges, learning of Chinese and Islamic civilizations

  • Chinese envoy launches Esthetic Bridges exhibition aimed at artistic collaboration between China and Pakistan
  • Pakistan was first Islamic country to recognize People’s Republic of China, with diplomatic relations established in 1951

ISLAMABAD: Chinese Ambassador to Pakistan, Jiang Zaidong, on Sunday inaugurated the ‘Esthetic Bridges’ project and said Beijing would work with Islamabad to promote mutual exchanges between, and learning of, Chinese and Islamic civilizations, state media reported on Sunday. 

The Esthetic Bridges exhibition celebrates artistic collaboration between China and Pakistan and aims to foster deeper artistic and cultural dialogue. 

Chinese investment and financial support for longtime ally Pakistan since 2013 under the China-Pakistan Economic Corridor (CPEC) of infrastructure and energy projects, among others, has 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.

“We are ready to work with Pakistan to implement this important initiative, appreciating the beauty of each other and sharing it together, to promote the exchange and mutual learning of Chinese and Islamic civilizations,” Pakistani state news agency APP quoted Jiang as saying as he addressed the inauguration ceremony for the Esthetic Bridges exhibition at the Silk Road Culture Center, a space dedicated to the promotion of art and culture in Pakistan and cultural exchanges with China. 

“President Xi Jinping attaches great importance and actively advocates for exchanges and mutual learning among different civilizations, proposing the Global Civilization Initiative to make the world’s garden of civilizations flourish with color and vitality, reflecting a profound sense of care and responsibility for the whole world,” Jiang added. 

Pakistan was the first Islamic country to recognize the People’s Republic of China, with the two establishing diplomatic relations in 1951. 

“This ironclad friendship has taken root, flourished, and will surely be passed down through generations and remain steady and enduring,” Jiang added.


Pakistan says repaid over $13.06 billion domestic debt early in last 14 months

Updated 29 January 2026
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Pakistan says repaid over $13.06 billion domestic debt early in last 14 months

  • Finance adviser says repayment shows “decisive shift” toward fiscal discipline, responsible economic management
  • Says Pakistan’s total public debt has declined from over $286.6 billion in June 2025 to $284.7 billion in November 2025

KARACHI: Pakistan has repaid Rs3,650 billion [$13.06 billion] in domestic debt before time during the last 14 months, Adviser to the Finance Minister Khurram Schehzad said on Thursday, adding that the achievement reflected a shift in the country’s approach toward fiscal discipline. 

Schehzad said Pakistan has been repaying its debt before maturity, owed to the market as well as the State Bank of Pakistan (SBP), since December 2024. He said the government had repaid the central bank Rs300 billion [$1.08 billion] in its latest repayment on Thursday. 

“This landmark achievement reflects a decisive shift toward fiscal discipline, credibility, and responsible economic management,” Schehzad wrote on social media platform X. 

Giving a breakdown of what he said was Pakistan’s “early debt retirement journey,” the finance official said Pakistan retired Rs1,000 billion [$3.576 billion] in December 2024, Rs500 billion [$1.78 billion] in June 2025, Rs1,160 billion [$4.150 billion] in August 2025, Rs200 billion [$715 million] in October 2025, Rs494 billion [$1.76 billion] in December 2025 and $1.08 billion in January 2026. 

He said with the latest debt repaid today, the July to January period of fiscal year 2026 alone recorded Rs2,150 billion [$7.69 billion] in early retirement, which was 44 percent higher than the debt retired in FY25.

He said of the total early repayments, the government has repaid 65 percent of the central bank’s debt, 30 percent of the treasury bills debt and five percent of the Pakistan Investment Bonds (PIBs) debt. 

The official said Pakistan’s total public debt has declined from over Rs 80.5 trillion [$286.6 billion] in June 2025 to Rs80 trillion [$284.7 billion] in November 2025. 

“Crucially, Pakistan’s debt-to-GDP ratio, around 74 percent in FY22, has declined to around 70 percent, reflecting a broader strengthening of fiscal fundamentals alongside disciplined debt management,” Schehzad wrote. 

Pakistan’s government has said the country’s fragile economy is on an upward trajectory. The South Asian country has been trying to navigate a tricky path to economic recovery under a $7 billion loan from the International Monetary Fund.