Food Inflation Down, Public Debt Now At Sustainable Level, PM Shehbaz Tells China

Prime Minister Muhammad Shehbaz Sharif met Dr. Wu Fulin, Chairman of China’s Export-Import Bank (CEXIM) in Beijing today. Prime Minister highlighted the reform agenda of the Government of Pakistan, with its focus on governance, taxation, and ease of doing business to attract Foreign Direct Investment (FDI). He said that the reform measures had already started to yield results as food inflation had been successfully tapered, current account deficit reduced and public debt brought down to a more sustainable level. The Prime Minister appreciated the EXIM bank’s continued support for the modernization of the industries, agriculture, and IT sectors of Pakistan. He also discussed the possible role of the CEXIM bank in financing Pakistan-China joint venture projects and trade financing as part of efforts to boost Pakistan’s exports to international markets. Chairman of EXIM Bank underscored the critical role of economic and financial cooperation under CPEC phase II and CEXIM bank’s strategic partnership with Pakistan and support to advance sustainable development under the concept of ‘shared prosperity’.