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Latest IMF bailout wasn’t possible sans China’s support: PM

Latest Imf Bailout Wasnt Possible Sans Chinas Support Pm
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300 graduates to get 3-month training in first phase in China; Urges graduates to bring techniques to boost per acre yield

Prime Minister Shehbaz Sharif said on Wednesday that Pakistan’s recent agreement with the International Monetary Fund would not have been possible without the financial and diplomatic support extended by China.

Addressing a ceremony in Islamabad for agriculture graduates selected for training in China, PM Shehbaz Sharif described Beijing as Pakistan’s “most sincere friend” and credited the country with playing a decisive role in stabilising Pakistan’s struggling economy.

The prime minister acknowledged China’s continued economic partnership, particularly noting the one-year extension of a $2 billion loan repayment last month, which provided much-needed relief for Pakistan’s foreign exchange reserves.

Pakistan secured a $7 billion bailout package from the IMF in September 2024 to avert a balance of payments crisis.

A staff-level agreement was reached in March 2025 after a successful review of the programme’s first tranche, with China’s backing seen as critical to the deal’s completion.

PM Shehbaz said China had consistently supported Pakistan’s economy through investments in infrastructure, energy and industrial projects under the China-Pakistan Economic Corridor, which he once again described as a “lifeline” for the country.

The prime minister reaffirmed his government’s commitment to overhauling the agriculture sector, calling it essential for ensuring national food security, boosting export potential, and improving livelihoods in rural areas.

During the event, Sharif congratulated the outgoing students and expressed hope that their training would directly contribute to agricultural innovation and productivity once they return.

Reiterating his commitment to transform the agriculture sector, Prime Minister Shehbaz termed it essential for achieving sustainable economic growth and emphasised that strengthening the agricultural backbone of the country would help ensure food security, boost exports and improve livelihoods for millions of farmers.

“We must focus on meaningful farming practices, digitalised crop management, and the development of climate-resilient seeds,” the premier said while highlighting the urgent need to revive and modernise the country’s agricultural research institutions.

It is pertinent to know that under the initiative, 300 selected graduates are being sent to China for a three-month training programme during the first phase.

 

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