• Download the Constitution of Pakistan
  • Advertise
WRITE FOR US
Economy.pk
No Result
View All Result
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
No Result
View All Result
Economy.pk
No Result
View All Result
Home Business

China pledges over $90m for flood-hit Pakistan

by Suneela Zulfiqar
October 1, 2022
in Business, World
Reading Time: 2 mins read
China pledges over $90m for flood-hit Pakistan
Share on FacebookShare on Twitter

According to Nong Rong, the Chinese ambassador to Pakistan, China has so far committed more than $90 million in aid to Pakistan in response to the terrible floods brought on by the monsoon rains.

The Chinese ambassador reaffirmed his government’s ongoing assistance to Islamabad in a speech that was recorded and then posted on Twitter.

Since the devastating floods occurred in Pakistan, among all countries, China has announced over 644 million RMB (around 90 million dollars), the biggest amount of assistance to Pakistan. #ChinaStandsWithPakistan pic.twitter.com/uUMPBzIj79

— Nong Rong (@AmbNong) September 30, 2022

“China is Pakistan’s most dependable iron brother. China has announced the largest amount of assistance to Pakistan since the terrible floods there, according to Nong Rong.

The ambassador stated, “The entire amount of support has exceeded RMB 644 million (about $90 million),” and added that the Chinese government, the Communist Party of China, the Chinese army, and the Red Cross are all contributing to the effort. Chinese society, along with its sister provinces, cities, and businesses.

He continued, “Some country better provide actual and useful things for the people of Pakistan, instead of pointing fingers against China-Pakistan collaboration.

In response to the US Secretary of State’s call for debt relief, Chinese Foreign Ministry spokesman Wang Wenbin stated that in addition to the Chinese government’s RMB 400 million in humanitarian aid, China’s civil society has also contributed.

“China and Pakistan have had successful economic and financial cooperation,” the official said. “The Pakistani people know it best,” it said, adding that “the US could as well do something practical and useful for the people of Pakistan instead of passing unfounded criticism on Beijing-Islamabad cooperation.”

In light of the nation’s economic situation, which has been made worse by severe floods, Washington rolled over an agreement to suspend service payments on $132 million of Islamabad’s debt, according to the US embassy.

The economy of Pakistan is struggling with its balance of payments, a growing current account deficit, a decline in its currency to historic lows, and inflation that has reached 27%.

Meanwhile, devastating floods devastated huge portions of the nation in late August, killing more than 1,500 people and causing $30 billion in damages, fueling worries that Pakistan would not be able to pay its debts.

It is important to note that after the nation suffered extensive flood-related devastation, US Secretary of State Antony Blinken advised Pakistan to request debt relief and restructuring from China, its single-largest creditor.

Tags: AidChinaFlood-hit PakistanlatestNong RongPakistanthe Chinese ambassador to Pakistan
Suneela Zulfiqar

Suneela Zulfiqar

Related Posts

Cotton production surges to over 5 million bales

Cotton production surges to over 5 million bales

Pakistan's cotton production has significantly increased in comparison to the previous season, reaching an all-time high at the end of...

Expected Signing of Over 2 dozen Agreements at the 3rd Belt and Road Forum

Expected Signing of Over 2 dozen Agreements at the 3rd Belt and Road Forum

The third BRF (Belt and Road Forum) to be held in Beijing from October 17 to 18, 2023, is expected...

Significant Drop in Gold Prices in Pakistan

Significant Drop in Gold Prices in Pakistan

There has been a noticeable decline in gold prices in Pakistan, On Wednesday. The rate for 24-karat gold is currently...

Intraday Update: Rupee Maintains Its Winning Streak Against the US Dollar

Rupee sees 20th consecutive gain, settling at 284.68 against US dollar

The Pakistani Rupee continued to gain strength against the US Dollar on Wednesday, rising by Rs.04 to Rs. 284.68 in...

Ideal Bank Statement for a Canada Visit Visa Application from Pakistan

Ideal Bank Statement for a Canada Visit Visa Application from Pakistan

Prospective travelers from Pakistan, aiming to secure a visitor visa for Canada, now have a clearer understanding of the financial...

SBP's Interbank Closing Currency Exchange Rates in Pakistan, October 3, 2023

SBP’s Interbank Closing Currency Exchange Rates in Pakistan, October 3, 2023

Pakistani Currency Exchange Rates for Various Currencies on October 3, 2023, as per State Bank of Pakistan (SBP). USD to...

Next Post
Punjab govt approves construction, upgradation of 10 roads

Punjab govt approves construction, upgradation of 10 roads

Recent Posts

  • What Material Is the Cricket World Cup Trophy Made of, and What Is Its Value?
  • What is Nipah Virus
  • Chahat Fateh Ali Khan drops ICC World Cup 2023 song ‘Jeeteingay bai jeeteingay’
  • Pakistan launches health card mobile app
  • Cotton production surges to over 5 million bales

Advertisement

Twitter

Economy.pk

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Categories

  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos

Privacy & Legal

  • Privacy Policy
  • Cookies

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • About
  • Advertise
  • Contact

© 2023 Economy.pk

No Result
View All Result
  • VIDEOS
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2023 Economy.pk