TOKYO, July 5 (Xinhua) — Pakistan shouldn’t be in a “Chinese debt trap”, Pakistani Foreign Minister Bilawal Bhutto Zardari stated, allaying considerations of speedy default on debt regardless of the continued financial disaster, native media reported.
Bilawal made the remarks in a written interview with Nikkei Asia printed on Tuesday throughout his go to to Japan.
“It is incorrect to claim that Pakistan is in China’s debt trap,” he stated, noting “most of the Chinese assistance to Pakistan is in the shape of investments or soft loans.”
He additionally rejected fears that Pakistan could possibly be compelled handy over management of key infrastructure as a consequence of debt, in keeping with Nikkei Asia.
While Pakistan’s financial system has taken a heavy blow from widespread flooding in 2022 and the rise in meals and vitality costs attributable to the Ukraine disaster, the minister acknowledged that “there is no imminent danger of a default.”
He additionally urged different nations to extend commerce with Pakistan and to soak up extra migrant staff from the South Asian nation.