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Imran Khan will visit China next month in midst of Pakistan’s financial difficulties

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Imran Khan
Photo Credit: The Express Tribune

Pakistan is currently facing financial difficulties, with the opposition focusing on the government’s mini-budget.

According to local media, Pakistan Prime Minister Imran Khan is expected to visit China next month as the incumbent government faces economic issues and widespread criticism from the opposition over the country’s mini-budget, mounting trade imbalance, and inflation. The Express Tribune quoted Special Assistant to Pakistan’s Prime Minister on China-Pakistan Economic Corridor (CPEC) Khalid Mansoor as saying on Wednesday that Prime Minister Imran Khan had ordered the removal of red tape hindering Chinese investment in Pakistan as he prepared to visit Beijing next month to further cement bilateral ties.

Imran Khan also ordered the repeal of 37 restrictions, according to Mansoor, to ensure that international investors had a single point of contact. According to The Express Tribune, he also stated that every 15 days, the prime minister would receive a personal report on the status of the CPEC projects. It comes as Pakistan’s trade imbalance grew to USD 24.79 billion in the first half of this fiscal year, owing mostly to a 63 percent increase in imports year over year. A significant increase in exports caused the trade deficit to skyrocket.

Imports increased to USD 39.91 billion from USD 24.47 billion a year ago, according to data from July through December. Exports, on the other hand, increased by 25% to USD 15.13 billion from July to December last year, according to Dawn. Pakistan is currently facing financial difficulties, with the opposition focusing on the government’s mini-budget. PML-N Chief Shahbaz Sharif and PPP Chief Bilawal Bhutto have both criticized the incumbent administration for the country’s rising inflation and have requested Prime Minister Imran Khan’s resignation over the government’s failure to address the issues.

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