Pakistan and China inked a deal to develop Sindh and Hubei as sister provinces in an attempt to encourage cooperation in diverse fields, at a time when the former’s loan portfolio is about 95 percent of its GDP, reported local media
The agreement was signed in Wuhan during a meeting between Moin-ul-Haque, Pakistan’s Ambassador to China and Wang Zhonglin, Governor of Hubei Provincial People’s Government, reported ARY News.
The deal aims to encourage cooperation in education, science and technology, as well as technical and vocational training.
Moin appreciated the Hubei governor for his assistance in Beijing-Islamabad ties.
Governor Wang said that Beijing and Islamabad are “all-weather strategic cooperative” partners
The deal comes at a time when Pakistan is facing the brunt of high prices of oil and everyday commodities and rising food inflation, triggering opposition parties and people to protest against the Imran government, said Geo News.
Currently, Pakistan’s trade deficit is a serious danger that will directly and adversely affect the current account deficit. And the International Monetary Fund (IMF) programme’s uncertainty poses another serious threat.
The loan portfolio of Pakistan is another sensitive area as the country’s borrowings are about 95 per cent of the GDP, according to Geo News. (ANI)