Federal Minister for Power Khurram Dastgir Khan has said that the failure to sign a staff-level agreement between the International Monetary Fund (IMF) and Pakistan could lead to the country’s increased reliance on China, which the US and other Western powers “must take into account”..
When questioned about the government’s approach to the budget in the event of a failure to reach a deal with the IMF, the minister said that the US and other Western powers should bear in mind that Pakistan’s dependence on China would intensify.
The minister also noted that there is a trend of gradually shifting international oil transactions from the US Dollar to other currencies, particularly the Chinese Yuan.
